Illinois Riverboat Casinos Required To Pay Base Amount In Taxes

A compromise legislation was signed this week by Illinois Gov. Rod Blagojevich, changing the tax rate paid by the states riverboat casinos. Existing law provided for the maximum tax rate to drop from 70 to 50 percent, starting in July, but the senate bill calls for riverboat casinos to pay a base amount to the state over the next two years.

Gov. Blagojevich's originally proposed budget for this year kept a 70 percent tax rate, however, officials in the industry said that this would mean that casinos would have to operate fewer hours, and would be unable to provide benefits such as free parking and gambling chips. This would in turn cause gamblers to drive to casinos in bordering states, rather then riverboat casinos in Illinois.

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