Legalized Gambling.

LEGALIZED GAMBLING. INITIATIVE CONSTITUTIONAL AMENDMENT. Legalizes Las Vegas and Atlantic City type gambling for a period of 28 years at two locations only, California City in Kern County and an Indian reservation to be selected by majority vote of all California tribes recognized by the federal government. Permits gambling presently prohibited including slot machines and various other banked games. Creates three-member state commission to supervise gaming activities, including the issuance of permits. Upon expiration of 28 years, Legislature may: further extend experimental program; extend legalized gambling to all counties and Indian tribes; or eliminate gambling in its entirety. Summary of estimate by Legislative Analyst and Director of Finance of fiscal impact on state and local governments: This initiative could result in annual revenues to the state and local governments potentially in the tens of millions of dollars from fees and taxes associated with Las Vegas- and Atlantic City-type operations and related economic activity