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California Could Become Largest Statewide Casino Gambling Market19 October 2000LAS VEGAS – Oct. 19, 2000 – As reported by The Mississippi Sun Herald: "California eventually may become the largest statewide casino gambling market in the country, exceeding even Nevada, according to a panel of American Indian gambling industry experts. "Citing reports by casino industry experts and Wall Street investment bankers, the panel predicted that tribal government casinos in the Golden State will generate from $4.7 billion to $10 billion a year by 2004. "…Estimates on the growth of tribal gambling in California vary widely because industry observers do not know how many machines will be allowed on the reservations under compacts signed by Gov. Gray Davis and about 60 tribal governments. Depending on how the agreements are interpreted, there can be anywhere from 45,000 to more than 100,000 machines. "If there are, indeed, more than 100,000 devices, Bill Eadington, director of the Institute for Gambling and Commercial Gaming at the University of Nevada, Reno, said the tribal casinos could generate more than $10 billion a year. "…Katherine Spilde, a researcher for the National Indian Gaming Association, said the approximately 300 tribal casinos nationwide won about $9.6 billion in 1999, meaning California casinos will increase the U.S. tribal casino industry by 50 to 100 percent…" |