Gun Lake Casino Benefits Local Community
BRADLEY, MICHIGAN – On Wednesday, the Gun Lake Tribe announced details of its fall revenue sharing payments to the state and local governments. The State of Michigan received $7,105,664 while the local revenues haring board received $1,684,347.
The revenue sharing payments are distributed semi-annually under terms of the tribal-state gaming compact. The figures are calculated from electronic gaming revenues reported from April 1, 2013 to September 30, 2013.
Gun Lake Casino opened in February 2011 and now employs more than 800 team members. The Gun Lake Tribe has now shared $44,321,069 with state and local governments over six distributions.
“We are proud to announce the Gun Lake Tribe has shared over forty-four million dollars with state and local governments, schools, law enforcement and civic groups,” said D.K. Sprague, Chairman of the Gun Lake Tribe. “February will mark our third anniversary and the future is bright.”
Under the compact agreement with the State of Michigan, the Tribe agreed to share a percentage of electronic gaming revenues with the state and local governments. The local revenue share is based on two percent of net win from electronic gaming devices, while the state payment is calculated on a sliding scale between 8 and 12 percent.
The state revenue sharing payments are dependent on the continued preservation of exclusive gaming rights within the Tribe’s competitive market area, as defined by the gaming compact. The market area includes the cities of Grand Rapids, Kalamazoo, and Lansing, as well as the entire counties of Kent, Kalamazoo and Ingham, among others.
“The Tribe has been a great neighbor. Local municipalities, schools, public safety, and civic groups have received immeasurable benefits through revenue sharing funds, and an increase in the local tax base,” said Bob Genetski (R-Saugatuck), Allegan County State Representative.
The Local Revenue Sharing Board receives and administers the semi-annual payments. The gaming compact prescribes mandatory funding to local municipalities for: costs incurred due to the operation of the casino; public safety services; and replacement of tax revenue. The Board established by-laws to govern the distribution process.