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Iowa Schools Guaranteed Gambling Profits

IOWA – As reported by the Des Moines Register: "Des Moines and Polk County's public school districts for the first time would have a guaranteed share of profits from Iowa's most profitable racetrack-casino under a tentative accord that the Des Moines City Council will consider Monday.

"…If Des Moines officials side with the county and Prairie Meadows, they will promise to oppose competing casinos. In exchange, Des Moines would be promised a payment of $13 million spread over the next 21/2 years.

"In addition, Des Moines would get a share of Prairie Meadows' profits, possibly as much as $7 million annually, and the 16 school districts with students in Polk County could share a projected $1.2 million annually…"

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