Lakes Entertainment Inc. released that California Governor Arnold Schwarzenegger signed a bill, which ratify a compact between the State of California and the Shingle Springs Band of Miwok Indians. This bill allows the Red Hawk Casino in Shingle Springs, California to offer the Class III gaming. Currently the Lakes Entertainment manages the casino which is under construction at this time.
Lakes’ President and Financial Officer, Tim Cope, said that they were very happy about the fact that the governor signed that bill. Now the ratification complete will have to be approved by the Bureau of Indian Affairs.
The Red Hawk Casino is scheduled to be open at the end of this year and Tim Cope hopes that until that day the Bureau of Indian Affairs will send them its approval.
The compact allows at one gaming facility a maximum of 5000 Class III electronic gaming devices (slot machines).
Besides the Shingle Springs Band will share its revenues with the State, it would be a 20-25%.
The Red Hawk Casino plans to order about 2000 Class III slot machines, 75 table games and a high stake gaming room. Besides, there will be food and beverage outlets and an enclosed parking. The casino should offer about 2000 new job possibilities.
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