Casinos and consulting? Pandemic spurs tribes to diversify

Hit hard by COVID-19 shutdowns, Native American tribes with casinos are taking a closer look at diversifying their portfolios to help keep their sovereign nations economically strong for future generations. The Mashantucket Pequots own the Foxwood Resort Casino complex in southeastern Connecticut. The tribe announced last summer that its investment arm acquired a Florida-based management consulting firm that works with various federal agencies. The acquisition marked the tribe’s latest foray into federal government contracting. Other Native American tribes also are looking beyond the casino business after the coronavirus crisis. Some are involved in a wide range of non-gambling businesses, such as trucking, construction, health care and marketing.