OUT OF STATE CORPORATIONS WIN –
CALIFORNIA AND ITS TRIBES LOSE
Only Benefits Wall Street, Not Main Street
The out-of-state corporations pushing Prop 27 don’t plan to open businesses or put down roots. They want to make as much money as they can to take back to their Wall Street investors. The jobs created and profits made from expanded California gaming will be outsourced to other states where they’re headquartered – they care only about profiting from California, not investing in it.
THREATENS STATE AND LOCAL REVENUES THAT BENEFIT CALIFORNIA
Tribal casinos generate $23 billion of economic activity in California, including nearly 200,000 jobs for Californians and $80 million per year for infrastructure and local communities. If passed, Prop 27 could reduce the amount of revenue tribal gaming brings to our state and local governments.
California Native American Tribes currently operate 76 casinos in 27 counties, and any impacts to these tribes would impact the surrounding communities. These casinos serve as an economic catalyst for surrounding local businesses. Tribal compacts also require tribes to negotiate agreements with local governments to mitigate the impacts from tribal gaming, including through funding of local services. And, tribes make philanthropic and charitable donations which help local non-profits and community organizations.
WHEN PROMISED REVENUES DON’T MATERIALIZE, BUSINESSES COULD BE LEFT WITH THE BILL
The corporate proponents of Prop 27 have a track record in other states of promising big money and then using loopholes to under deliver on those promises. When the promised revenues fail to materialize, the state and local governments may look at new taxes and fees on businesses to bridge the shortfall.