During a preliminary discussion with town officials this week, Foxwoods representatives outlined a plan to invest $1 billion in the casino they and a Colorado developer are proposing for Milford.

Foxwoods signed on last month with Colorado-developer David Nunes’ proposal to seek one of the state’s three licenses for a resort-style casino. Their casino, which has been submitted to the state gaming commission under Crossroads Massachusetts, would be placed at the intersection of I-495 and Rte. 16.

“They expect to have a substantial casino facility with a 350-room hotel, three or four name restaurants, 125 gaming tables, 4,200 slots and 50 poker tables, just as a broad concept right now,” wrote Town Counsel Gerry Moody in a letter to the Board of Selectmen following a conference call on Wednesday. The total investment was estimated at $1 billion.