Several Sacramento-area Native American tribes, long known for their success in casino gaming, are making significant moves in downtown real estate. Their latest investments mark a shift beyond gaming, positioning them as key players in urban development.
“It’s not just about casinos anymore,” said Michael Ault, executive director of the Downtown Sacramento Partnership, as quoted by Sacramento Business Journal. “They see an opportunity to be part of the city’s growth.”
Major Acquisitions Signal a Changing Landscape
The United Auburn Indian Community (UAIC), which operates Thunder Valley Casino Resort, has been one of the most active tribes in downtown Sacramento’s property market. In 2019, UAIC purchased 300 Capitol Mall (Emerald Tower) for $127 million. At the time, the high-rise boasted a 92% occupancy rate, but as remote work gained traction, it has since fallen to 69%.
Not stopping there, UAIC acquired 2700 J St. for $4 million last year, setting it aside for a cultural center. The tribe further strengthened its presence with a $17 million purchase of 301 Capitol Mall, a full city block in downtown. Development plans for the site are expected to be unveiled in early 2025.
Wilton Rancheria, Sacramento’s newest tribal gaming player, is making perhaps the boldest real estate move yet. The tribe is in the final stages of securing 31 acres in the city’s massive Railyards redevelopment project. Their vision? A 12,000-seat soccer stadium and mixed-use development that will make Wilton Rancheria the majority owner of Sacramento Republic FC.
“It made a lot of sense for us,” said Chris Franklin, Wilton Rancheria’s chief operating officer. “Gaming and entertainment go hand in hand, and we see this as an extension of what we’re already doing.”
Expanding Beyond Downtown
Tribal investments aren’t just limited to the urban core. Several tribes have been quietly expanding their land holdings across the region:
- United Auburn Indian Community purchased 120 acres near Thunder Valley Casino in 2023.
- Shingle Springs Band added land near Highway 50, developing a gas station and convenience store.
- Wilton Rancheria is finalizing a deal to acquire 100 acres near Sky River Casino.
For many tribes, these acquisitions are about more than business. They also serve as a way to reclaim ancestral land and ensure long-term economic sustainability.
More Than Just a Real Estate Play
While casinos have been economic engines for these tribes, diversification has become a priority.
“As tribes grow their economy, the natural thing to do is diversify,” said Kristi Jackson of TFA Capital Partners, an advisory firm specializing in tribal finance. “Real estate provides stability, long-term revenue, and a different kind of return than gaming.”
For some, that return comes through direct development—new buildings, businesses, and attractions. Others benefit from leasing agreements or tax revenue streams. Either way, the moves align with Sacramento’s broader transition from a government-dominated employment hub to a mixed-use district featuring housing, retail, hospitality, and entertainment.
“Downtowns are changing,” said Ault. “This is a reflection of that shift.”
What Comes Next?
Wilton Rancheria’s Franklin hinted that these investments are just the beginning.
“As we expand Sky River Casino and look at other opportunities, I think we’ll be talking again,” he said.
With the pace of acquisitions and development accelerating, it’s clear that Sacramento’s tribal communities are thinking big—and downtown is at the center of it all.