The state Senate has approved a revised agreement with a Sacramento-area Indian tribe that owns a struggling casino east of the state capital. Gov. Jerry Brown negotiated the new compact last fall with the Shingle Springs Band of Miwok Indians. The tribe owns the Red Hawk Casino, which officially opened in December 2008 just as a national recession began. Sen. Ted Gaines, a Republican from Rocklin, said his bill will let the tribe restructure and refinance its debt while retaining about 1,400 jobs in El Dorado County. AB1267 would let the tribe reduce its payments for several years before requiring that it eventually pay the state 15 percent of the casino's net winnings.
Posted May 17th, 2013 @ 4:35pm by KFBK News