The long-awaited casino project by the North Fork Rancheria of Mono Indians has taken a major leap forward with the finalization of nearly $725 million in financing. The funding will go toward building the expansive North Fork Mono Casino & Resort near Madera, California—a project more than two decades in the making.

Announced this week, the North Fork Rancheria Economic Development Authority (NFR EDAB), the economic branch of the tribe, has entered into a loan agreement totaling $725 million with VICI Properties Inc. Based in New York, VICI is a real estate investment trust (REIT) known for owning prominent casino properties like Caesars Palace, MGM Grand, and the Venetian in Las Vegas.

VICI will contribute up to $510 million through a delayed draw term loan facility as part of a broader financing package, according to the company’s Q1 earnings report released April 30. The agreement includes two term loans: Loan A, worth $340 million—with VICI so far committing $125 million—and Loan B, totaling $385 million, which has already received VICI’s full backing. The respective terms of these loans are five and six years.

This marks VICI’s second foray into funding tribal land projects and represents its first partnership with Station Casinos, a Las Vegas-based casino operator affiliated with Red Rock Resorts, Inc.

“We value both of these partnerships and take pride in our ability to build deep relationships with dynamic growth-minded operators that will help to contribute to our long-term growth goals and objectives,” said Edward Pitoniak, CEO of VICI Properties, according to The Business Journal.

Project Scope: A Vision Two Decades in the Making

The casino resort has been a long-held dream for the North Fork Rancheria, with formal plans dating back over 20 years. Construction on the 305-acre site began in September 2024, and the facility is expected to open its doors in the summer of 2026.

Once complete, the North Fork Mono Casino & Resort will span approximately 260,000 square feet. It will offer 2,400 slot machines, 40 table games, two full-service restaurants, three bars, a food hall, and retail shops. Plans also include a parking garage as well as outdoor parking spaces designated for RVs and oversized vehicles. A 200-room hotel is also in the works, although its construction timeline has not yet been disclosed.

The casino’s design is being handled by JIVE Architecture, a Las Vegas firm known for its expertise in casino architecture. General contractor W.E. O’Neill Construction hosted a topping-out ceremony in March 2025 to celebrate a key milestone in the building process.

Tribal Leadership Reflects on Milestone Achievement

The successful financing deal is being hailed as a major victory for the tribe, one that solidifies years of effort and collaboration with development and operational partner Station Casinos.

“Red Rock Resorts and its affiliate Station Casino have been constant, dedicated partners of the tribe for over 20 years,” said Tribal Chairman Fred Beihn. “This financing package expands and enhances that partnership further.”

North Fork leaders emphasized the importance of the deal in bringing tangible economic benefits to their community. “We appreciate the vision and hard work of the financing team to make this deal a reality,” said Elaine Bethel Fink, President of the NFR EDAB.

Tribal Treasurer Maryann McGovran also expressed gratitude for the support received throughout the project’s lengthy timeline. “We appreciate everything Station and the lenders have contributed to our two decade-long dream of bringing jobs and economic development to our Tribe and community,” she said.

Tribal Secretary Christina McDonald added, “Today our dream is closer than ever with the financing in place.”

The site for the North Fork Mono Casino & Resort is located just off Highway 99, between the Avenue 17 and Avenue 18-1/2 exits, at 17770 Golden State Blvd. in Madera. With its proximity to major transportation routes, the casino is expected to attract a broad visitor base from across California’s Central Valley and beyond.