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Gold/Mining/Energy : Int'l Thunderbird Gaming (INB)
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To: Ciao who wrote (488)11/4/1998 5:56:00 AM
From: kfdkfd  Read Replies (1) of 603
 
California Indian gambling measure passing
SAN FRANCISCO, Nov 3 (Reuters) - California's Indian tribes appeared to be winning their high-stakes bet over a controversial ballot measure that would expand their right to run casino-style gambling operations, according to early election returns Tuesday.

With a third of the state's precincts reporting, Proposition 5 had been approved by 60.9 percent of voters, according to election returns posted on the California secretary of state's website.

The fight over Prop. 5 became the most expensive measure ever placed on a ballot as Indian tribes raised more than $60 million and blanketed the state's airwaves with advertising in support of the measure.

The tribes' advertising blitz was countered by Nevada casinos, which raised at least $26 million in an attempt to fend off a possible loss of revenue to the Indian tribal casinos.
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