California Gov. Arnold Schwarzenegger (R) signed new gaming compacts with five tribes on Monday.

The deal requires the tribes to finance $1 billion bond that will go to the state. The tribes will share 10 percent of net slot machine revenues with the state or $100 million, whichever is larger, and pay the state $12,000 to to $25,000 a year for any new slot machines above the current limit of 2,000. The fee is based on the number of slot machines at a casino.

Schwarzenegger will oppose two gaming initiatives on the November ballot, including one that would authorize non-Indian card clubs and racetracks to operate slot machines. The compacts become null and void if the initiative is approved. Schwarzenegger will also oppose an initiative sponsored by the Agua Caliente Band of Cahuilla Indians.

The tribes that signed are the Pala Band of Mission Indians, the Pauma Band of Luiseo Indians, the Rumsey Band of Wintun Indians, the Viejas Band of Kumeyaay Indians and the United Auburn Indian Community. Other tribes are expected to join the deal.

Copies of the compacts can be found at www.governor.ca.gov/state/govsite/gov_htmldisplay.jsp?sCatTitle=%20&sFilePath=/govsite/spotlight/2004compacts.html

Get the Story:
Slot deal gives state cash (The Riverside Press-Enterprise 6/21)
5 Tribes, Gov. Sign Gaming Compacts (The Los Angeles Times 6/22)
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Local tribes part of $1 billion deal with state (The North County Times 6/22)
Governor Signs Gambling Agreement (ABC News 30 6/22)
Thunder Valley, Cache Creek can have more slots (AP 6/22)
Effects of local tribes' gaming pacts to ripple across county (The San Diego Union-Tribune 6/22)
Governor, five tribes sign deals on casinos (Copley News Service 6/22)
Indian casinos allowed to grow (The Marysville-Yuba City Appeal-Democrat 6/22)
More Slot Machines for Tribes, and $1 Billion for California (The New York Times 6/22)
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