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The Chip Board Archive 08

WI Casinos to offer Roulette and Craps?

OK Chippers, here's the new wave and a reason for a "road trip" to get everything new. grin I cut out most of the article, except chip and gambling related.

you can find the complete article at http://www.jsonline.com The Milwaukee Journal

The liberal new gambling deal the state has cut with the Oneida tribe swaps huge additional payments to the state in exchange for an open-ended compact that adds craps, roulette and 24/7 casino hours.

The tentative pact could become a model for the state's other 10 tribes, strengthening what is already a $1 billion industry in Wisconsin. The move was hailed by state and tribal officials, but criticized by tavern operators and others who say the casinos have crippled their businesses. (taverns and Dog tracks have been pushing for legalized video poker and slot machines at their locations)

The new conditions would take effect as soon as the compact is finalized, which Danforth expects in April.

Wisconsin now gets about $24 million a year in tribal casino payments.

Under the deal announced Wednesday, the Oneida tribe would pay the state roughly four times the $4.85 million annual payment it now pays for exclusive casino rights for the next three years.

Payment levels after that would be pegged to a percentage of net casino revenue... Net casino revenue is all casino cash wagered, minus winnings.

In exchange, the Oneida would get:

* A perpetual gambling compact, something all the tribes have desired. The five-year limit on current compacts has made it difficult for tribes to obtain long-term financing for community and casino improvements, Danforth said.

* Betting limits lifted on blackjack games.

* Permission to offer craps and roulette.

* No limit on the hours its Oneida Bingo & Casino in Ashwaubenon (Green Bay) can be open.

Ho-Chunk tribal spokesman Mark Butterfield said that tribe appeared to be close to reaching a new long-term agreement with the state. One key detail in Ho-Chunk negotiations: the tribe's desire for a fourth casino site. (Ho-Chunk runs the casino by that name, Majestic Pines and Rainbow)

Though the state and tribes don't refer to the payments as a tax, that's what they amount to.

Under the 1988 federal law that ushered in the era of tribal casinos, states may not tax casino revenue. (now who voted for that stupid idea?)

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WI Casinos to offer Roulette and Craps?
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