Harrah's Releases Casino Deal Summary With Indian Tribe
A local indian tribe and Harrah's casino released a summary of the casino deal set for West Warwick, Rhode Island. The 2-page sheet represents the tribe's most detailed disclosure of the deal so far.
Critics say it leaves many questions unanswered. Barring legal challenges, Rhode Islanders will vote next November on whether they want to amend the state constitution so the tribe can build a gambling casino. The tribe and Harrah's have refused so far to release the full contract.
According to the information sheet, the Narragansetts' tribal government will receive 5% of the casino's adjusted gross revenue. A tribe attorney defines adjusted gross revenue as the casino's gambling and non-gambling income minus state gaming taxes and West Warwick local taxes.
If that revenue exceeds 800 million dollars in a year, the tribe could receive up to five-point-five percent. Harrah's will make other payments to tribal health and education funds.
July 11, 2006
Posted By Bob Hartman
Staff Editor, CasinoGamblingWeb.com
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