Kenosha
Casino Would Drain Potawatomi Bingo Casino
As reported by the Milwaukee
Journal-Sentinel: "A casino in Kenosha
would drain an estimated $162 million a year
in revenue from an expanded Potawatomi Bingo
Casino in Milwaukee, according to a new study.
"The
report, commissioned by the Forest County Potawatomi
Tribe and released Wednesday by the tribe, says
profits for the tribe - amounting to about 55%
of revenue - would take an $89 million-a-year
hit, or $1.8 billion over 20 years, if the Menominee
tribe's plan for a Kenosha casino is approved.
"The
figures were contained in a lengthy submission
by the Potawatomi tribe this week to the U.S.
Bureau of Indian Affairs in opposition to the
Kenosha casino. The bureau is considering the
Menominee bid for an off-reservation casino
at the site of Dairyland Greyhound Park, which
would be sold and included in an $808 million
tribal gaming complex to be jointly developed
by the Menominee, the Mohegan tribe of Connecticut
and Kenosha businessman Dennis Troha.
"…The
drain in gambling money from Milwaukee that
the new study predicts represents a reduction
in a much larger potential casino take, not
a drop from current revenue. The Potawatomi
casino in Milwaukee will take in about $300
million this year, according to the report by
REH Capital Partners, a Florida investment firm…"
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