Gov. Mary Fallin and the Chickasaw Nation announced plans this afternoon for 50 acres of waterfront development at Lake Texoma.
The effort will attempt to revive a local economy that saw Lake Texoma Lodge close in 2006 at the site, which was sold to private investors whose development stalled. Pointe Vista Development sold 50 acres of the property back to the Oklahoma Commissioners of the Land Office in an agreement to settle lawsuits surrounding the defunct development.
The new Chickasaw development will occur on much of those same 50 acres, with officials saying the land deal closed at a price tag of $4.2 million.
The development will feature up to 300 electronic casino games and 10 fishing/boating cottages, according to a press release.
“This project will create jobs and revenue for southern Oklahoma while at the same time maintaining the beauty of the site,” Fallin said in the release.
The governor chairs the Oklahoma Commissioners of the Land Office (CLO), which obtained 11.5 acres of the land from the Oklahoma Department of Tourism and Recreation. The property will need to be placed into trust before building of the planned casino can begin.
From the release:
The project is the result of a settlement negotiated by the CLO, which worked to bring a resolution to the property that was once home to the popular Lake Texoma Lodge and Resort. A private developer bought the property in 2006 and the lodge was demolished in 2009, but plans did not come to fruition. Developers blamed the economic downturn of 2008.
“We believe this project will help launch a transformation of this area into a major tourism and recreation attraction,” said (Chickasaw Nation Gov. Bill) Anoatubby. “We look forward to working with the state on a project we expect to have a positive impact on jobs and our economy for decades to come.”
The development will occur in Marshall County, which boasts a population of about 16,000 people.
For years after the state park shut down and the Pointe Vista development languished, area residents bemoaned a down economy.