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May 17, 2013
The Sacramento area based tribe, Shingle Springs Band of Miwok Indians, have
been given approval to change their compact.
The Red Hawk casino and Resort, owned by the tribe opened in 2008. This was also the same time when
the country faced the start of a recession. The original gaming compact was
renegotiated last year. However, since that time the casino has faced financial
difficulties.
A new compact was given approval by the state's senate. In the compact, the debt
owed by the tribe will be able to be refinance. Also the tribe's business
organization will be allowed to restructure. Payments towards the debt would be
made over several years. later on, the casino will also pay 15% of gaming
revenue to the state. The new compact would also allow for the casino to
continue the employment of its 1,400 people.
The next step is for the state's Assembly to give approval.
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