Monday, December 23, 2013

Times Reports Casinos' Decline Remain a Winning Hand for Local Governments

From the Northwest Indiana Times:

Lake County government bodies have walked away from the tables with $1.1 billion since the county's four casinos opened 17 years ago.

That is the total of admissions and wagering taxes along with other revenues the riverboats have paid local government based on each customer who enters their glittering doors.

The dollars have purchased a lot of brick and mortar, including Gary's $45 million Steel Yard baseball stadium, tens of millions for the total rebuilding of about 60 percent of Hammond's roads and $12 million for new windows and other upgrades to make county government buildings more energy-efficient.

The casino revenues also have put a fleet of government vehicles on the street and fuel in their tanks, have sustained an army of consultants and paid for local government employees' health benefits.

Gary, Hammond and East Chicago, which respectively host Majestic Star, Horseshoe and Ameristar Casinos, have pocketed about three quarters of this jackpot.

Lake County, municipal governments and the South Shore Convention & Visitors Authority have received the rest.

The American Gaming Association's website states Indiana's casinos raked in at least $2.6 billion last year from its customers and paid out state and local taxes totaling more than $806 million.

All of Indiana's riverboats generate the fourth-largest source of state government funds, behind sales, income and gasoline taxes, according to state records.

Lake County officials say the share has improved the quality of life of all region residents from promoting job-creating economic development to repairing crumbling sewers. They also have showered gaming funds on churches, sports organizations and even a college tuition program in Hammond.
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http://www.nwitimes.com/news/local/lake/casinos-decline-remain-a-winning-hand-for-local-governments/article_5966f5d7-e810-5620-a0f4-01a2b9357fc1.html