ELGIN – City leaders said Elgin’s budgeting was off this year because of a shortfall in projected revenue from the Grand Victoria Casino.
Assistant City Manager Rick Kozal said riverboat fund proceeds through May were $4.2 million, about $835,000 below budget. Mayor David Kaptain said casino officials told him they “anticipate this is going to get worse.” City Councilman John Steffen said if the trend continues the shortfall at the end of the year will be $1.8 million.
Elgin receives 5 percent of the casino’s gambling revenue and $1 admission tax a patron. It also receives proceeds from leasing land to the casino.
Local media reports said that Elgin uses riverboat funds to supplement the city’s general fund, purchase equipment and pay for projects like street resurfacing.
