March 26, 2008 in Business

In brief: Tribe to pay $9.5 million for 600 gambling machines

The Spokesman-Review
 

The Spokane Tribe of Indians plans to buy 600 slot-style electronic gambling machines and accessories, worth an estimated $9.5 million, an Austin-based game manufacturer announced.

Multimedia Games Inc. will deliver the machines this spring, receiving revenue over a four-year contract, according to a company news release. The tribe early last year inked a landmark gambling agreement with the state, allowing it to have as many as 1,500 slot-style machines for three years at its casinos in Chewelah and Davenport.

With 700 slot machines as of February 2007, the Spokanes had been the sole remaining tribe to offer gambling without a state compact.

The deal is the first for Multimedia Games with the Spokanes, said company spokesman Rich Land.

Parker Howell

BIG CREEK, Idaho

Otter, Andrus will speak at mine reopening today

Gov. Butch Otter and former Gov. Cecil Andrus will speak today at a 4 p.m. ribbon-cutting to celebrate the reopening of the Sunshine Mine.

Sterling Mining Co. reopened the underground mine in late December. About 125 people work at the historic silver mine; employment could expand in coming years.

A former operator closed the mine in 2001. Rising silver prices have brightened the mine’s outlook. Silver was trading at nearly $18 an ounce Tuesday.

The ceremony will take place at the mine, in Big Creek, Idaho.

– Becky Kramer

BOISE

Deadline is July 1 to claim $2 million in property

Time is running out to claim nearly $2 million in unclaimed property held by the Idaho State Tax Commission.

Officials say residents have until July 1 to prove ownership to more than $1.8 million of the state’s total $48 million in unclaimed cash, stocks, bonds and other assets.

Any portion of the $1.8 million available after the deadline will go into the general fund.

Tax Commission spokeswoman Melanie Wade said the state’s goal is to return as much of the money as possible to its rightful owners.

Residents can check the “unclaimed property list” on the agency’s Web site – http://tax.idaho.gov/unclaimed.htm – to see if they or relatives qualify.

Idaho takes ownership of property that goes unclaimed for more than 10 years.

– Associated Press

NEW YORK

Yahoo says it’s joining OpenSocial project

Yahoo Inc. said Tuesday that it was joining rival Google Inc.’s initiative for creating photo-sharing and other social tools that work across the Web.

News Corp.’s MySpace earlier pledged support, and the three companies announced Tuesday that they were forming a nonprofit organization, the OpenSocial Foundation, to ensure that the platform remains neutral and viable.

The idea behind the Google-initiated OpenSocial platform is to create a common coding standard for the applications so they work on hundreds of Web sites. The applications could permit chats, games, media sharing and more.

By contrast, sites that haven’t joined OpenSocial typically rely on unique coding that has prevented widgets developed for its sites from working at other places on the Web.

– Associated Press


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