Tutor Perini Building Corp. Awarded $285 Million Pechanga Resort and Casino Expansion
February 25, 2016
SYLMAR, Calif.--(BUSINESS WIRE)-- Tutor Perini Corporation (NYSE: TPC), a leading civil and building construction company, announced today that its subsidiary, Tutor Perini Building Corp., has been awarded a contract valued at $285 million by the Pechanga Development Corporation and has commenced work on the expansion of the Pechanga Resort and Casino in Temecula, California. The contract value will be included in the Company’s reported first quarter backlog.
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The resort expansion project involves adding a new, AAA Four Diamond, 568-room and suite hotel wing; a stand-alone luxury two-story spa and salon with 17 treatment rooms, a fitness center and hydrotherapy pool terrace; a resort-style pool complex with eight pool areas; two new restaurants; and an additional 67,000 square feet of event space.
Tutor Perini has enjoyed a successful, long-term partnership with the Pechanga Development Corporation, the economic development branch of the Pechanga Band of Luiseño Indians, and previously completed multiple phases of the Pechanga Resort and Casino over the past 13 years.
“We are very pleased and excited to partner with Tutor Perini Building Corp. to build the $285 million expansion of the award-winning Pechanga Resort & Casino,” said Patrick Murphy, President of the Pechanga Development Corporation. Murphy continued, “Perini was the general contractor for the original Pechanga resort that opened in 2002. This development will complement our current offerings, enhance the resort experience for guests, and cement Pechanga Resort & Casino as the preeminent luxury gaming destination in California.”
The project is expected to be substantially completed by the end of 2017.