Oregon Tribe Offers Casino Revenue Deal - Friday 3rd of February 2006

VANCOUVER, Oregon – As reported by the Oregonian: "The Cowlitz Indian Tribe would pay La Center as much as $3 million annually for 10 years to recoup lost revenue from cardrooms under a proposal to be presented tonight to the City Council.

"The proposed 'memorandum of understanding' also calls for cooperation between the tribe and city on several projects, such as developing sewage services to the La Center-Interstate 5 junction and the tribe's support for the city's desire to extend its urban growth boundary to the junction.

"But the biggest unknown until now has been how much money the tribe proposes to pay for lost revenue from the four cardrooms in the city, which are anticipated to lose money if the casino is built.

"'This addresses their biggest concern,' the potential loss of cardroom revenue, said David Barnett, a tribe member and part of a partnership with the Mohegan Tribal Gaming Authority that is developing the proposed casino-resort next to the junction

"…Without a financial arrangement, the casino development could have a devastating impact on the city's finances.

"…The tribe proposes building an 877,000-square-foot complex with a hotel, shops, meeting space and tribal headquarters on the 152-acre site. The project has been valued at $510.3 million…"

Other news from around the same time

Blackpool Bingo Launches in UK - Friday 3rd of February 2006

UNITED KINGDOM – Blackpool Bingo just launched in the UK.The ever present feeling of excitement....


Gaming Stocks Carry Momentum of 2005 into New Year - Monday 6th of February 2006

Wall Street gave gaming stocks rave reviews in January, with the Dow Jones U.S. gambling index climb....


e-Lottery Offers Chance at EuroMillions Record Jackpot - Friday 3rd of February 2006

Europe's EuroMillions Lottery has 'rolled over' 11 times with no winner and so has amassed a gian....


Kentucky Derby Signs First Sponsor - Thursday 2nd of February 2006

LOUISVILLE, Kentucky Churchill Downs racetrack today announced that Yum! Brands Inc., the world'....


Litigation Initiated Against Monarch Casino - Thursday 2nd of February 2006

RENO, Nevada – Monarch Casino & Resort, Inc. (Nasdaq: MCRI), owner of the Atlantis Casino Resor....


Stars Come Out for Poker Awards - Thursday 2nd of February 2006

LAS VEGAS – Card Player magazine, "The PokerAuthority", is rolling out the red carpet on Februa....


Grants Awarded to Fight Under-Aged Gambling - Thursday 2nd of February 2006

MISSOURI As reported by the Kansas City Star: "Three Missouri nonprofits this year will share $160....


Poll: Rhode Islanders Want Vote on Casino Proposal - Thursday 2nd of February 2006

PROVIDENCE, Rhode Island – As reported by the Providence Journal: "A majority of Rhode Islanders ....


St. Lucia to Open First Casino, Hoping to Boost Island's Tourism Industry - Thursday 2nd of February 2006

CASTRIES, St. Lucia As reported by the Associated Press: "St. Lucian authorities have approved pla....


Seattle Favored in Super Bowl XL - Thursday 2nd of February 2006

DETROIT, Michigan – The countdown to Super Bowl XL is onand betting is hotter than ever. A tota....