A Few Clouds
70°FA Few CloudsFull Forecast

Drop in casino revenue hits Elgin’s city budget

Published: Thursday, June 26, 2014 10:00 p.m. CDT

ELGIN – City leaders said Elgin’s budgeting was off this year because of a shortfall in projected revenue from the Grand Victoria Casino.

Assistant City Manager Rick Kozal said riverboat fund proceeds through May were $4.2 million, about $835,000 below budget. Mayor David Kaptain said casino officials told him they “anticipate this is going to get worse.” City Councilman John Steffen said if the trend continues the shortfall at the end of the year will be $1.8 million.

Elgin receives 5 percent of the casino’s gambling revenue and $1 admission tax a patron. It also receives proceeds from leasing land to the casino.

Local media reports said that Elgin uses riverboat funds to supplement the city’s general fund, purchase equipment and pay for projects like street resurfacing.

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Northwest Herald.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

More News

Reader Poll

Do you trust cloud computing storage services?
Yes
No