California Gov. Arnold Schwarzenegger (R) says tribes should renegotiate their gaming compacts while the because the deal "will not be on the table forever."

Last month, Schwarzenegger signed compacts with five tribes. The deals require the tribes to finance a $1 billion bond package for the state and share a portion of slot machines revenues with the state. In exchange, the tribes get to operate more than 2,000 slot machines.

Other tribes tried to enter into new deals but say their offer wasn't considered by the Schwarzenegger administration. Many are now backing a ballot initiative, Proposition 70, that would allow them to break the slot machine limit while sharing 8.84 percent of net revenues with the state.

A Schwarzenegger spokesperson said tribes would be better off signing new deals "rather than hedging their bets and going to the ballot box."

Get the Story:
State steps up call to tribes on new gambling terms (AP 7/23)
Tribes, private casinos prep for initiative fight (The North County Times 7/26)