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Michigan City jackpot from casino hits $113M



Printer Friendly VersionPost a CommentTell a Friend about this Article12 June 2006
As reported by: Post Tribune
A vast majority of the more than $100 million casino boat dollars collected the past decade have been used to extend municipal services and other investments in the city’s infrastructure.

It appears the future will be no different, with millions of dollars more in bricks-and-mortar projects to be paid for with gambling proceeds, said Michigan City Mayor Chuck Oberlie.

'’I think by and large we’ve done a good job with the boat monies,’’ said Oberlie, who succeeded Mayor Sheila Brillson in 2003.

Since 1997, the city itself has collected $113,423,105 in casino boat proceeds, according to statistics provided by Michigan City Deputy Controller Yvonne Hoffmaster.

The funds are derived from a wagering tax, admission tax and a separate agreement the city negotiated with Boyd Gaming, which shares another pool of money based on financial performance.

Oberlie said revenue provided under the agreement is not a tax.

Instead, it’s calculated based on how well the casino does financially so the amounts can vary from year to year.

For example, in 2003 the performance-based revenue for Michigan City amounted to $2.5 million, Oberlie said.

How Michigan City’s share of the jackpot is applied has stayed the course established by the Brillson administration when the Blue Chip Casino first opened in August 1997.

Oberlie said about 80 percent of the city’s gaming funds are applied to infrastructure with roughly a third of those monies going directly to water- and sewer-related projects.

For example, among the current projects funded with casino revenue is the ongoing replacement of cracked intake pipes that draw water from Lake Michigan into the city’s treatment plant. When completed in two years, the total cost will be $8 million.
Article By: Post Tribune

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