Under the new compact, the tribe would pay the state 15 percent of Red Hawk's slot-machine winnings. Currently, the state collects up to 25 percent of the slot winnings.
The compact allows the Tribe, which owns and operates Red Hawk Casino, to restructure and refinance its debt to ensure financial viability of its gaming enterprise and its continued operation as an economic engine for El Dorado County.
Tribal Chairman Nicholas H. Fonseca said, "This amended compact is crucial to Red Hawk Casino's financial sustainability and was agreed upon in the spirit of the Indian Gaming Regulatory Act to finally allow the Tribe to benefit from its tribal gaming. This compact will enable our gaming enterprise to be in a position to continue to benefit our tribal members, our employees, the state and our local community."
The Shingle Springs Tribe has a long history of positive partnership with the state and El Dorado County. The Tribe has made, and will continue to make, significant contributions to El Dorado County to mitigate the impacts of its gaming facility. The Tribe funds public safety and road improvement projects, and operates a health clinic. All of these projects serve the broader community and these benefits were achieved with funds generated from Red Hawk Casino.
MONEY QUOTE from the bill:
SEC. 3. The amount of the revenue sharing payments made by the Shingle Springs Band of Miwok Indians to the state pursuant to Section 4.3.1 of the amended tribal-state gaming compact between the tribe and the state ratified pursuant to Section 12012.53 of the Government Code, during the period between July 1, 2012, and the date the amended tribal-state gaming compact between the tribe and the state ratified pursuant to Section 12012.58 of the Government Code becomes effective, inclusive, is transferred from the General Fund to the Shingle Springs Band of Miwok Indians Trust Fund, established pursuant to Section 12012.585 of the Government Code, as an initial deposit pursuant to the terms of the amended tribal-state gaming compact ratified pursuant to Section 12012.58 of the Government Code and any trust fund agreement executed by the state and the tribe pursuant to that tribal-state gaming compact.