Shingle Springs Band wins state approval for new compact

The Shingle Springs Band of Miwok Indians in California has won state approval for its new Class III gaming compact.

The tribe signed the deal with Gov. Jerry Brown (D) last November. It lowers the revenue sharing rate at the Red Hawk Casino, which has not been performing as well as expected.

The tribe will share 15 percent of slot machine revenues with the state, down from the current 25 percent. The lower rate, however, depend on the tribe's successful renegotiation of about $500 million in debt.

California lawmakers passed a bill to ratify the compact and Brown signed the bill into law on Thursday. It can now be sent to the Bureau of Indian Affairs for review.

Business has been improving at the casino, Lakes Entertainment, the tribe's partner, reported earlier this month.

A copy of the compact can be found on the governor's web site.

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