SEARCH NEWS:

 

California Tribes, Governor Near Deal

CALIFORNIA – As reported by Reuters: "Five casino-operating California Indian tribes are near a deal with Governor Arnold Schwarzenegger to back an approximately US$1 billion bond with slot machine revenue to help fund the state's upcoming budget, a tribal spokeswoman said last Friday.

"The governor has included US$500 million from tribes for the state budget starting in July and wants to use the funds for roads and transportation spending. A lawyer for three of the tribes said that a deal could be ready in a few weeks.

"…Viejas tribe spokeswoman Nikki Symington confirmed accounts from other sources knowledgeable about the talks that the five tribes had been discussing a deal that would allow California to launch an 18-year, US$1 billion bond funded by payments on existing slot machines in exchange for a continued monopoly for tribes on slot machine gambling in the state…"

< Gaming News