California Governor Arnold Schwarzenegger and Shingle Springs Band of Miwok Indians signed an amended compact to make it possible for the Class III gaming to be offered at the Red Hawk Casino that soon will be opened in Shingle Springs, California. It’s the Lake Entertainment who will manage the future casino, which is under construction now.
This compact lasts until 2029 and it allows maximum 5,000 Class III electronic gaming devices, like for example slot machines, at one gaming facility. Besides, the casino will share its incomes with the state, ranging from 20 to 25% from the operation of the slot machines and the Shingle Springs Tribe will also contribute every year to the Revenue Sharing Trust Fund.
Lakes’ President and Chief Financial Officer Tim Cope is very happy about the agreement signed by the governor and the Tribe. He claimed that he is very pleased about the fact that the amended compact is beneficial for both sides, the state of California and the Tribe. Now the amended compact has to be still approved by the Bureau of Indian Affairs.
For Tribe, this move means a lot, because it’s another step forward toward its economic independence. After the last approval, the Red Hawk Casino will open and it plans to have about 2,000 Class III slot machines, 75 table games, a high stakes gaming room, food and beverages corners a and big parking place. The casino will have about 2,000 employees.
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