North Carolina Closes In On Las Vegas Style GamblingGovernor Hopes To Sign Compact With Cherokee Indian Tribe |
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A new gambling compact with the Cherokee Indian tribe in North Carolina could bring poker and other Las Vegas-style gaming to the state’s only casino.
Under the proposed 30-year agreement, Harrah’s Cherokee Casino would gain exclusive rights to offer the new table games in exchange for 4 percent of their revenue which would go to the state education department. That percentage will eventually be raised to 8 percent as the years progress.
Gov. Bev Perdue has spent the last two months pushing for the new compact, much to the dismay of the state’s Republican legislative leaders who have said that the proposal may enable problem gambling.
However, the governor’s office has confirmed that the two opposing sides are close to reaching an agreement because of the 400 estimated jobs the compact would create, as well as the $2.5 million in annual revenue that would assist the school districts. Currently, the state receives no revenue from the existing casino.
Though the compact has yet to be finalized, government officials expect to have it ready for lawmaker’s approval during a February session.
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