Sucking money from poor communities and local Gambling Addicts is just beginning as Illinois steps forward.
Wonder if they'll figure out that each Slot Machine permanently removes + 1 JOB from the local economy?
Antioch officials divided over video gaming
By Diana Kuyper Special to the news-sun
August 17, 2012
ANTIOCH — Village residents have one more opportunity Monday night to voice their opposition or support of video gaming.
The Village Board will make a final decision on an ordinance that would allow up to five video gambling machines per liquor-pouring business, with 5 percent of the proceeds to be allocated to Antioch.
The Village Board is divided on the issue, with trustees Mary Dominiak and George Sakas against legalizing the newest form of gambling sanctioned by the state.
Before the final vote is cast at Monday’s Village Board meeting, Dominiak wanted to clarify the level of gambling revenue it would take to generate a modest return for the village.
“It would take $2 million of betting to generate $20,000 for the village,” said Dominiak, correcting a $400,000 figure that was published earlier this week as the betting needed to generate $20,000.
She said $400,000 would be the net terminal income from that $2 million, or the revenue that would be shared among the municipality, the state, the business and the terminal operator.
“The amount of $400,000 is player losses. Every $1 the village receives results from $20 in gambling losses. I use the example that if the village were to receive $20,000 in tax, that would equal $400,000 in losses.
“I think these are important points that need to be clarified. First, the magnitude of betting required is basically 100 times what the village would receive and secondly, and most importantly, that the tax that the village would receive, no matter what the amount, is based on people who don’t necessarily have money to lose, losing 20 times what we would receive.”
There are 16 Antioch businesses, including the VFW, that qualify for installation of up to five machines, for use by ages 21 and up, that will be regulated by the Illinois Gaming Board.
Village Administrator James Keim said seven establishments have indicated to village staff they will seek a gaming license if the village board approves the ordinance Monday night.
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