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Minnesota Casino Profits Reported in Audit

MINNESOTA – As reported by the St. Paul Pioneer Press: "The Treasure Island casino near Red Wing earned about $46 million in profits in 1997, according to financial statements released Wednesday by the Minnesota Public Safety Department.

"That was the last year in which the Indian tribe that owns the casino supplied audits to the state.

"…Treasure Island audits for 1997 and five previous years were made public after a judge last week approved a negotiated settlement of a three-year lawsuit over public access to financial data held by the state.

"…Frank Ball, director of the state's gambling enforcement unit, said he believed that if his inspectors sought copies of current audits the tribes would refuse to provide them and also might deny inspectors the right to examine them.

"According to the most-recent Treasure Island audit released Wednesday, the casino near Red Wing had $107 million in net revenue in 1997. After operating expenses, the casino transferred $46.5 million in profits to the Prairie Island Dakota Community, the tribe that owns the casino…"

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