One day after new state law assured up to 5,000 slot machines could operate at the coming Red Hawk Casino, a $77 million loan came through for the Shingle Springs Tribal Gaming Authority.

An agreement between the state and casino owner the Shingle Springs Band of Miwok Indians was codfied into law Sept. 29 with signing by Gov. Arnold Schwarzenegger.

The loan deal closed Sept. 30, with Bank of America as lead arranger of the financing by a group of banks.

The money will fund the furnishing and equipping of gaming facilities, restaurants, lounges and other features of the two-story casino near Shingle Springs, set to open in December.

Tribal Chairman Nicholas Fonseca has said furnishings will be high-class while avoiding the “garishness” seen in the furnishing of Lake Tahoe casinos.

“The casino’s architecture will be in harmony with tradition, nature and our surroundings,” the tribe announced in a Web posting.

At opening it will offer 2,000 slots, blackjack, poker and pai gow card games, retail shops and a childcare facility. In addition, it will feature four cocktail lounges and six restaurants – a steakhouse, a rustic grill, a sushi restaurant, a buffet, a café and an Asian restaurant.

“We are very pleased to have closed on this last part of funding for the Red Hawk Casino project given the very volatile and uncertain financial markets,” said Tim Cope, president of Lakes Entertainment, the Red Hawk Casino’s management company. “We believe the strength and progress of the project played a large role in securing this financing in these challenging times.”

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In the Know

Red Hawk Casino to offer 2,000 slots, blackjack, poker, pai gow card games.