Friday, Nov. 21, 2003 | 11:08 a.m.
LOS ANGELES -- California's horse-racing tracks and card rooms are preparing a ballot measure for November that could allow them to operate slot machines, challenging a monopoly held by Indian casinos, the Los Angeles Times reported today.
California Gov. Arnold Schwarzenegger said during the campaign that he would try to raise as much as $2 billion from casino-operating Indian tribes by renegotiation their compacts with the state. Some backers of the initiative have ties to Schwarzenegger, the paper reported.
If approved, the measure would give Schwarzenegger 90 days to renegotiate key details of casino compacts negotiated by former Gov. Gray Davis and would dictate the terms so tribes provide 25 percent of their net revenue to the state, estimated at $1.25 billion, the paper reported. Davis was rebuffed by most tribes when he called for them to renegotiate.
Should the tribes fail to agree, card rooms and race tracks would be allowed to operate as many as 30,000 slot machines, with 35 percent of their net winnings going to cities and counties, the paper reported.
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