VEGAS CREST CASINO
September 30, 2008
SHINGLE SPRINGS, CA - Governor Arnold Schwarzenegger has signed the bill that ratifies the gaming compact between the Shingle Springs Band of Miwok Indians and the State of California. The amended compact allows 5,000 slot machines through 2029. The tribe will pay the state 20%-25% of all earnings from the slots plus it will contribute $4.6 million per year to the Revenue Sharing Trust Fund for non-gaming tribes in California.
Red Hawk Casino is under construction and scheduled to open by the end of this year. It will initially operate 2,000 slot machines, 75 table games, 10 food outlets, and a child care center.
The Shingle Springs Band of Miwok hired Lakes Entertainment Inc. to build and manage the casino. Lakes' President and Chief Financial Officer Tim Cope said, "We are pleased that the California legislature has ratified the compact and that Governor Schwarzenegger has signed the bill. With the ratification complete, the amended compact will now be submitted to the Bureau of Indian Affairs for its approval. We expect to receive BIA approval prior to the opening of the Red Hawk Casino, which remains on schedule for the end of this year."
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