Michigan City Casino Funds Help Local Infrastructure - Sunday 18th of June 2006

MICHIGAN CITY, Indiana – As reported by the Gary 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.

"…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 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…"

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