New Agreement for Additional Slot Machines is Signed By Thunder Valley Casino
New slot machines have been set up!
Thunder Valley Casino Resort is setting up additional Slot Machines in Lincoln, California, under a new agreement that was signed by the tribe that owns the resort and the state of California. This new contract just may redirect as much as nine million dollars from California to Placer County, leaving the tribe paying less per annum to the state general fund. It is said that the anticipated payment would be condensed by twenty-five million dollars, and enhance the payments to a trust fund that would profit the tribes who do not own casinos. This new contract is set to stop in 2041.
The spokesman for United Auburn Community, which is the tribe that owns the Thunder Valley Resort stated, “The state and tribe negotiated a new long term gaming contract that will help secure the future of the tribe while at the same time benefit the state as well as the local economy of Placer County.
The office of Governor Jerry Brown’s was not available for comment during Friday afternoon. However, they did present a press release stating that United Auburn is going to turn out to be one of the leading contributors to the trust fund that will help the tribes that do not own casinos or have a limited amount of gambling prospects. Under this new agreement the tribe will donate eighteen million to the shared fund; the preceding agreement only had two million going into the fund for the tribes with an elevated fee to the state.
According to a statement that the governor, the contract reflects a continued commitment by the tribe with their sharing of revenue with the non-gaming and limited gaming tribes which will increase the economic benefits of the gaming reach tribal government that have chosen not to operate tribal casinos.
The previous contract was negotiated between Arnold Schwarzenegger and the tribe during 2004, under this agreement it limited the amount of slot machines this was due to the amount the tribe had to compensate to the state for extra machines. The increasing cost of each machine ensured the limitation of new ones.
Currently the casino holds 2,622 slot machines, under this new agreement they will be able to add 3,500 more slot machines without paying more for each machine purchased. Fifteen Million will also be paid by United Auburn to the state general fund with the choice of sending nine million of that to Placer County for infrastructure projects that are not located on Native American lands. $40.4 million was going to the state fund under the old agreement.
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