Compacts signed by Gov. Arnold Schwarzenegger (R) and a handful of tribes have failed to deliver on promises to inject more than $1 billion into the state budget.
Schwarzenegger promised that new slot machines added by the tribes would generate $300 million in revenue. But the state only expects $16 million this year. He also said the tribes would finance a $1 billion bond for the state. State Treasurer Phil Angelides said the amount would only be between $800 million and $900 million, blaming a lawsuit filed by racetracks. Get the Story: