Gun Lake Tribe reveals $7.2 million spring revenue payment

312
Bob Peters Courtesy Gun Lake Tribe

The Gun Lake Tribe has distributed a total of $7,289,991 in its spring revenue sharing payments to state and local governments, which was calculated from electronic gaming revenues reported from Oct. 1, 2020 to March 31, 2021.

“As we begin to return to a new normal, we’re pleased to be able to make a difference in the local community with this distribution,” said Bob Peters, Gun Lake Tribe chairman. “With the hardships and struggles of the past 16 months, it’s more important than ever that we be good stewards in the community.”

The State of Michigan received $4,049,995, which was given to the Michigan Economic Development Corporation that in turn awards grants to businesses and creates jobs. Since 2011, the tribe has shared more than $102 million with the State of Michigan.

The Tribe’s state revenue sharing payments are dependent on the continued preservation of exclusive gaming rights within its competitive market area, as defined by the tribal-state gaming compact, which also includes statewide expansion of certain lottery games. 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 Local Revenue Sharing Board received $2,024,997, which funds local municipalities for costs incurred due to the operation of the casino; public safety services; and replacement of tax revenue. The local payments are made under terms of the gaming compact independent of gaming exclusivity. So far, the Gun Lake Tribe’s local payments have totaled nearly $38 million.

GLIMI, an economic development entity, received $1,214,998.

The Gun Lake Tribe has now shared $157,337,776 with state and local governments over 21 distributions.

Facebook Comments