CEO of Potawatomi Ventures Kip Ritchie speaks on gaming and investing in the tribe's future

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Photo by Tom Jenz

Kip Ritchie, CEO of Potawatomi Ventures

Kip Ritchie, CEO of Potawatomi Ventures

On any night in Milwaukee, thousands of people pass through the doors of the Potawatomi Casino Hotel. The lights flash, cards are shuffled, slot machines ring and restaurants stay busy deep into the evening. Yet, behind the casino’s constant motion is a larger business operation helping drive jobs, investment and economic growth for the Forest County Potawatomi Community.

Potawatomi Ventures is the business, and it’s overseen by Kip Ritchie, the Chief Executive Officer. Headquartered in Milwaukee, Potawatomi Ventures is the economic development wing of the Potawatomi Community. It operates as a holding company with profits from its subsidiary companies reinvested to generate long-term growth. Under Ritchie’s leadership, Potawatomi Ventures has expanded its business reach while remaining connected to the tribal community and the economic power the casino helped create. Potawatomi Ventures is ranked the third largest minority owned business by the Milwaukee Business Journal. 

I met Kip Ritchie in the Potawatomi Ventures conference room.  We sat at a long, polished table that parallels picture windows showing the 32-story Northwestern Mutual building and further on, Lake Michigan in all its blue splendor. An enrolled Forest County Potawatomi tribal member, Ritchie is 60 but he looks 40. He carries himself with a low-key style that feels more Milwaukee than Las Vegas. Thoughtful and confident, he is focused on long-term growth and opportunity. We talked about Potawatomi Ventures and what it means to the Indian community.  

Tell me about your life as a boy. Where you grew up, your parents, neighborhoods and schools. 

I was born and raised in Green Bay. Youngest of four children. My dad was a machinist, and my mother owned a little restaurant and bar. I met my wife in junior high. I went to Bay Port High School.  

What about your Native American background?

My dad, Bob Ritchie, is one half Potawatomi. He was born and raised on the Forest County Potawatomi Indian Reservation in the Crandon area. My grandfather, Harry Ritchie, served on the tribal council and was tribal chairman. My great grandfather, Henry Ritchie, was also a tribal chairman. He was instrumental in getting the tribe recognized by the Federal government back in the 1930s. When I was a kid, I spent a lot of time on the reservation. 

Where did you go to college?

UW Madison. I majored in communications and marketing. I graduated in 1988, then worked at AT&T and at a marketing firm for about eight years.

How did you end up working for the Potawatomi Casino?

Back in the mid 1990s, the only featured game at the Potawatomi was bingo—along with 200 slot machines. Like most tribes in the gaming business, they hired an outside management company to help them learn and operate the facility. Then, eventually the tribe ran the casino on their own. About that time, I started working there as the marketing director. It was a big challenge. Our tribe was the poorest tribe in the state at the time. 

What led to the expansion of games beyond just bingo?

In about 1997, gaming was developing on Indian reservations. The state of Wisconsin required five-year terms, which means we could only get a five-year loan to expand our facility and build our business with more casino games than just bingo. The city of Milwaukee common council and the county board had to approve that change, but they were opposed. We sold the idea through the position that the city needed jobs, tourism, more entertainment options and also a foundation to support nonprofits. At the time, Indian gaming was getting popular in other parts of the country.  

The Potawatomi are a tribe in Forest County, northern Wisconsin. How come the tribe is allowed to operate a casino in Milwaukee, which is not on tribal property, or is it?

Good question. The Milwaukee area sits on ancestral land of the Potawatomi Indians. In the early 1900s, the Potawatomi settled up in Forest County as a reservation. Their land was placed into a federal government trust. All reservations are in trusts held by the federal government. In 1990, the tribe purchased a small parcel of property in the Menominee River Valley, and then the bingo hall was begun. 

How does an Indian gambling casino work? What are some of the games your customers play?

Traditionally, Indian tribes have always had some form of gaming. But Las Vegas and later Atlantic City started casino gaming. In the late 1980s, the Indian Regulatory Act was adopted, which opened the door to Indian gaming on reservations. As far as casino games, Indians have the same games as Las Vegas and are regulated the same way. However, Indian gaming has a tribal gaming commission, a state gaming commission and a federal gaming commission as oversights.    

So what was your job when you worked at the casino?

I was marketing director and later assistant general manager. Great experiences. Then, I left in 2004 to work for Potawatomi Ventures, which is separate from the casino business. The reason the tribe started Potawatomi Ventures was to build business acumen in order to get access to capital. Our goal was to get into economic development, meaning other businesses. Traditional Indian tribes cannot do that because of federal regulation in the form of trusts. We kept Potawatomi Ventures totally separate from the casino business but still 100% owned by the Forest County Indian tribe. We decided to use the Harvard Model.       

The Harvard Model asserts that sustained reservation economic development hinges on four pillars: sovereignty, capable governing institutions, cultural match, and strategic leadership. 

What businesses do Potawatomi Ventures own and operate? From what I’ve read, you oversee a diversified portfolio with a gross revenue of close to $400 million.

If you look at our portfolio through the years, you will see three legs to the stool: One, Federal government contracting with the Department of Defense, Health Services, the VA and Department of Administration. Two, we have a commercial portfolio: technology including Data Holdings, the Greenfire construction management firm, Sagewind Development for real estate and Wgema Property Management. In 2025, we purchased Lyons Electric, and we also own Fireside Markets convenience stores, one in Crandon and another in Carter, and we recently launched the new Fireside Market in Slinger. Three, we have passive investments including real estate, energy, venture capital and hospitality.

Can I, as an outside investor, invest in Potawatomi Ventures?

Everything except our passive investments are 100% owned by the tribe. We have a little over 900 employees. As CEO, I oversee the employees. I also lead the management team, and we report to our board of directors who are appointed by the tribal council. One of our main jobs is to help educate and create jobs for tribal members so they can take over for us in the future. 

How does Potawatomi Ventures decide what to buy or what to invest in?

Very good question. We are quite diversified in our investments. As an example, let’s take our Fireside Market Convenience stores. Many tribes have gaming, but convenience stores are important because they support the Indian community, the families and also tourism. Our convenience store in Slinger is more upscale than other convenience stores such as Kwik Trip. Our real estate firm, Sagewind, acquired the land. Our construction firm, Greenfire, built the store. Our retail group operates the facility. Finally, our internal team here did all the financing and marketing strategies. This is a great example of how vertical integration works together as a native owned firm.

The federal government has a system to keep an eye on Indian gaming. But do the feds oversee Potawatomi Ventures?

Only with our federal government contracting businesses, and we have to comply with their audits.

Potawatomi Ventures is only possible through the tribe’s vision and their support through the years. We have 900 employees but only a handful are tribal members. Job creation is a big deal. We have come so far over a short period of years. There was a time when political leaders stood outside our bingo hall and opposed our expansion. But currently, if we have a groundbreaking, the mayor and the county executive will show up and grab a shovel or cut a ribbon. Economic development is so important to Indian nations. 

You yourself are an enrolled Potawatomi tribal member. What does it mean to be on the roll?

It means I am one quarter Indian blood, which puts me on the roll, meaning I can get certain privileges such as grants for college education. I am also an elder. 

The elders are the guardians of tribal stories, traditions, and customs, and they play a vital role in maintaining the cultural heritage.