Here's what I've been able to put together from various sources over the last day. Its all from INB nr's and newspaper articles. Not sure if the Table Mountain info is the T.M. mentioned in the INB nr's..
* While INB is looking towards S.America. and Asia for opportunities,
they still have significant interests in native gaming in California,
Especially with the Table Mountain tribe which signed into the Calif.
pact and with which INB has a rev. sharing agreement. INB has indicated
in previous statements that they are in negotiations with at least 3
other tribes in California.
* There is a possibility of a merger with Imperial Gaming which has a
presence in Colorado native gaming.
Table Mountain: Apparently Table Mountain is in the process of
dumping a 'Casino Consultant' that managed their casinos. This is
generating a 4M$ lawsuit against the tribe.
(Scooped from newspaper article)
Table Mountain Rancheria does not need a consultant to operate
the tribe's Table Mountain Casino near Millerton Lake, a new lawyer for
the rancheria said Friday. Majel Russell of the Elks River Law Office
in Billings, Mont., said the casino, which grossed nearly $32 million
in 1997-98, has not had any problems since it began operating without
a consultant May 7 - the day a new tribal leadership took over.
Russell said it was the consensus of everyone involved in the operation
"that a consultant is not necessary for the successful operation of the
casino" and that there are no plans to hire one.
Russell was responding to a lawsuit filed Thursday in U.S. District Court
in Fresno against Table Mountain Rancheria by a Las Vegas
consulting firm that, until last month, helped run the casino.
American Vantage Companies Inc., which is seeking more than $4 million,
contends that the rancheria last month abruptly ended a
$350,000-a-month contract - which was drawn up in February 1996
and reportedly was scheduled to run until June 30, 2000.
Russell said Thursday that she had not seen a copy of the lawsuit
but confirmed that Table Mountain no longer was doing business with
American Vantage. Russell called the contract, which reportedly earned
American Vantage a total of about $9 million a year in 1996, 1997 and 1998,
"unconscionable." Russell said she was limited to what she could say
because of the pending court action, but that she was confident the tribe's decision to
break its ties with American Vantage would withstand any legal challenge.
She noted that the National Indian Gaming Commission has been conducting an
investigation for months into the casino's finances,
including the contract with American Vantage, and that she has little doubt
the commission's findings will support the tribe's decision to drop
the consultant contract. In February, E. Robert Wright, an assistant U.S.
attorney, reported that an audit by the National Gaming Commission revealed some
apparent irregularities in the tribe's casino finances.
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Colorado gaming: (Scooped from newspaper article)
Late last week the Colorado Limited Gaming Control Commission
approved a revised tax structure and the elimination of the annual
fee paid for each slot machine and table game. The commission,
a five-member body appointed by the governor, is required by law
to establish the tax rates annually. According to projections from the
Colorado Department of Revenue, casinos will pay $77 million in taxes
on $607.4 million in adjusted gross proceeds, the casinos' revenues
minus their jackpot payouts, during the next fiscal year,
July 1999 through June 2000. Casinos would have paid nearly $91.1
million in gaming tax revenues if the tax rate had remained the same.
The loss of device fee revenues will mean about $1.2 million fewer
dollars to the state. The tax reduction will be effective July 1'99.
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