Governor Continues Gambling Expansion In California With Compact

Governor Schwarzenegger is boldly moving the state of California towards the top of the casino gambling industry in the United States. He had already signed a compact with the Shingle Springs band of Indians that allowed them to begin construction on a casino in the state.

On Tuesday, the governor announced that he has amended the original agreement. Shingle Springs will now be allowed to have 5,000 slot machines at their casino. That number is up from the 2,000 originally agreed upon.

In exchange for the extra slot machines, the tribe agreed to pay one of the highest revenue sharing stakes from their casino. They will pay twenty percent of net slot winnings for the first $200 million. Once they pass the $200 million mark, they will be required to pay twenty five percent.

The state of California is watching its casino industry thrive. Once the Shingle Springs casino is opened later in the year, the state will then have 59 Indian casinos. The casino industry in general is growing to massive proportions around the country.

Governor Schwarzenegger had the vision that casino gambling would become mainstream in America when he began negotiating for expanded casinos. The state is using the casino money to try and help balance a budget that has fallen on hard times, much like others in the country.

Casino gambling has been a savior for many states who are having difficulty staying afloat in today's economy. Expanded casino gambling has helped ease the blow of the economy in many states.

July 3, 2008
Posted By Susan Torres
Staff Editor, CasinoGamblingWeb.com
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