California Gov. Arnold Schwarzenegger (R) said on Tuesday he is "this close" to a new gaming deal with a small group of tribes that would deliver on his campaign promise to bring more revenues to the state.
At a press conference in Sacramento, Schwarzenegger said four tribes are part of the pending agreement, although newspaper reports put the number at five. He hoped that others would join in once the new compacts are signed.
Schwarzenegger declined to say how much he expects out of the compacts. But newspaper reports described a deal that could bring up to $1.2 billion to the state. According to the reports, the tribes will use their superb credit rating to finance a bond package to help the state out of its budget mess.
In addition, the tribes would share a portion of casino profits with the state. Reports put the figure at $275 million annually, or 15 percent of revenues.
In exchange, the tribes would be allowed to expand their operations. Currently, tribes are limited to 2,000 slot machines under 20-year agreements.
The tribes ready to sign a deal, according to news reports, are the Rumsey Band of Wintun Indians, the United Auburn Indian Community, the Pala Band of Mission Indians, the Viejas Band of Kumeyaay Indians and the Pauma Band of Mission Indians. The first three tribes are represented by the same attorney.
At the press conference, Schwarzenegger said he would oppose two gaming initiatives on the November ballot. One would force tribes to share 25 percent of slot machine revenues of allow slot machines at non-Indian facilities. The other, sponsored by the Agua Caliente Band of Cahuilla Indians, would require willing tribes to share 8.84 percent of casino revenues in exchange for unlimited gaming under 99-year compacts.
Get the Story:
Casino Deals Said to Be Near
(The Los Angeles Times 6/16)
pwlat
State, tribes near pact for gaming (The Contra Costa Times 6/16)
State nears five gaming pacts (The Sacramento Bee 6/16)
4 tribes, governor cut deal on casinos (The San Francisco Chronicle 6/16)
State, tribes close in on gaming pact (Copley News Service 6/16)
Governor, tribes close to $1 billion gambling agreement (AP 6/16)
Tribes near deal to share revenue (The San Jose Mercury News 6/15)
pwpwd
California
Schwarzenegger says new gaming deal 'this close'
Wednesday, June 16, 2004 More from this date
Schwarzenegger says new gaming deal 'this close'
Wednesday, June 16, 2004 More from this date
Join the Conversation
Stay Connected
Contact Us
indianz@indianz.com202 630 8439 (THEZ)
Search
Top Indian Gaming Stories
Trending in Gaming
1 Catawba Nation continues work on controversial casino in North Carolina
2 Cheyenne and Arapaho Tribes move forward with casino expansion
3 Poarch Band of Creek Indians said to be on Trump's radar
4 Hopi Tribe officially joins Indian gaming industry with approved compact
5 Seminole Tribe paid just $50M for casino Donald Trump built for $1.2B
2 Cheyenne and Arapaho Tribes move forward with casino expansion
3 Poarch Band of Creek Indians said to be on Trump's radar
4 Hopi Tribe officially joins Indian gaming industry with approved compact
5 Seminole Tribe paid just $50M for casino Donald Trump built for $1.2B
More Stories
Washington tribe suspicious of petition spending Cowlitz Tribe criticizes opponents of casino
Indian Gaming Archive