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Indiana Casino Winnings up on Dockside Gambling9 September 2002INDIANAPOLIS, Indiana – As reported by the Associated Press: "Indiana's riverboat casinos took in nearly $198 million during the first month of dockside gambling in August, an increase of $25 million, or 14.5 percent, over July when more stringent boarding restrictions were in place. "The $198 million in adjusted gross revenue -- the amount of gambling money casinos made after payouts -- was 24 percent higher than the $159 million the 10 casinos took in during August 2001, according to preliminary figures released Friday by the Indiana Gaming Commission. "Total admissions and wagering taxes last month were about $38.2 million, down from the $50 million the casinos paid to state and local governments in July. "That was no big surprise since it was just the first month the casinos were subjected to a new, graduated wagering tax the General Assembly established for dockside gambling. "…Under the new graduated system, the first $25 million in annual revenue is taxed at a lower rate of 15 percent. The next $25 million is taxed at 20 percent, and the scale increases, to a maximum of 35 percent for revenue above $150 million. "…The new rules allow customers to come and go freely rather than take two-hour cruises on Lake Michigan or the Ohio River on established schedules. "…Barry Morris, general manager of the Caesars Indiana casino on the Ohio River in Harrison County, said he was pleased with the first month of dockside. The casino took in $25.8 million in August, up from $21.7 million in July…" |