Business Journal: Casinos Generate Big Money
California’s tribal casinos account for $3 of every $10 in U.S. Indian gaming revenue, easily the largest in the nation – and an increasing revenue source for the state.
Monday, July 16, 2007
California is one of the biggest winners from casino-gaming revenue, with the state collecting $271 million last year – a 133 percent increase from 2004, according to a recent report. Those dollars, collected as part of agreements with Indian tribes during the past two years, easily outpaced the 31 percent growth of casino-gaming revenue statewide compared to 2004. California tribes collected a combined $7.7 billion in gaming revenue in 2006. The compacts allow casinos to expand operations, including adding more slot machines, if the Indian tribes pay the state an annual fee. The two largest casinos in the Sacramento region – Cache Creek Casino Resort and Thunder Valley Casino – each agreed to new compacts in 2004 and pay $11,000 for each new slot machine.