Shingle Springs Band takes more control of finances at casino

The Shingle Springs Band of Miwok Indians of California is taking more control of its gaming operation.

The tribe negotiated a new Class III gaming compact that lowers the revenue sharing rate at the Red Hawk Casino. That should help address the lower than expected performance at the facility, which opened in 2008 during the national economic recession.

The tribe also plans to end its relationship with Lakes Entertainment by paying $57 million to settle $66 million. The company says business at the casino has been improving.

Finally, the tribe is restructuring about $450 million in gaming-related debt.

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