Editorial: Gambling is not a sure bet for state
Deals that Gov. Arnold Schwarzenegger negotiated with Indian gambling tribes have not produced the huge increases in revenue the governor predicted. Indian gambling will bring $362 million into the state general fund this year, $123 million less than expected.
01/26/2009
- Editorial: Gambling is not a sure bet for state
Op-Ed - The Sacramento Bee
Deals that Gov. Arnold Schwarzenegger negotiated with Indian gambling tribes have not produced the huge increases in revenue the governor predicted. Indian gambling will bring $362 million into the state general fund this year, $123 million less than expected. It will bring an estimated $392 million next year, $192 million less than the governor's rosy forecast.
Like other parts of the economy, gambling is feeling the impact of the economic downturn. As The Bee's recent stories show, the signs of distress can be seen everywhere. In Placer County, the Auburn Indian Community stopped work last month on the $1 billion expansion of its Thunder Valley Casino. A casino spokesman told The Bee that customers are not spending as much as they used to. The general manager for the Cache Creek Indian Casino in Yolo County acknowledged a "noticeable drop in spending" by customers there, as well.