The Horseshoe Hammond is certainly one of four northwest Indiana casinos providing funds that are substantial local governments. (Image: caesars.com)
Northwest Indiana casinos are playing a role that is vital the spot’s overall economy. Since the area’s first of four riverboats exposed in 1996, the commercial gambling enterprises have supplied $1.7 billion in profits to local governments.
Casinos are still viewed by numerous as a sin income tax industry, perhaps not unlike alcohol and cigarettes. But Northwest Indiana wants readers to know the advantage gambling has provided for their towns and cities.
Hammond’s Horseshoe, East Chicago’s Ameristar, the 2 Majestic Star riverboats, and also the Blue Chip Casino have collectively benefited the communities in which they live. The Horseshoe, Ameristar, and Majestic venues have actually produced $1.4 billion for Lake County, while the Blue Chip has delivered $302 million to LaPorte County.
In total, the four casino organizations have taken in some $20 billion on the 20-year period.
The revenue is used by local governments in many different ways infrastructure that is including, social services, and economic revitalization projects. Perhaps most notable is Lake County’s Hammond where in fact the city uses casino capital to fund college scholarships.
‘It’s been wonderful for Hammond,’ Hammond Mayor Thomas McDermott Jr. told the Northwest Indiana instances. ‘ Without gaming revenue, we would never even be able to dream about having a scheduled program like College Bound.’
No Longer for a Boat
Since Indiana legalized casino gambling in 1993, the industry has been restricted to riverboats and racinos. That somewhat changed thanks to your French Lick Resort Casino, a storied property that allowed the tiny moat surrounding its casino to dry out in 2008.
In May 2015, Governor Mike Pence (R) said he’d not sign a bill to legalize land-based casinos, but also wouldn’t stand in the legislation’s means. A State House bill became law without Pence’s signature without any action by the governor.
Home to 10 riverboat casinos throughout the state, Gary’s Majestic Star wasted no time in announcing plans to ashore bring its casino. Majestic is trying to spend upwards of $135 million to construct a brand new casino on its land acreage next to its docks.
With Hammond and Gary both less than 30 miles from downtown Chicago, grander casinos that are land-based bring even more Illinoisans to the Hoosier State.
Trump Ended Up Being Here
Gambling is just a component that is key northwest Indiana, but its initial foray into the market was as rocky as the waters of Lake Michigan. And yes, like most things gambling in the mid-1990s, Donald Trump played a job.
The Majestic Star II originally opened in 1996 as the Trump Casino.
At that time the future Republican Party nominee said, ‘Gary’s had some rough times over the years. That is really the start of the end of those rough times.’
Gary did not majestically become a blossoming economic powerhouse overnight. However, Trump’s forecasts, while perhaps overstated, did to some degree come real.
Nine years after it exposed, Trump sold the riverboat amid financial troubles to Majestic owner Don Barden.
Now no further confined to riverboats and buildings surrounded by almost comical moats, the greater amount of favorable gambling environment should lead to even greater revenues in the coming years for Indiana municipalities.