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twitterCasinos seek lower taxes, expansion of gambling
Wednesday, Jan. 22, 2003 | 9:53 a.m.
CHICAGO -- A group representing Illinois casino owners outlined a proposal Tuesday that they claim could help plug the budget hole by raising an additional $317 million in tax revenue.
Tom Swoik, executive director of the Illinois Casino Gaming Association, told Illinois Gaming Board officials a recent tax increase on casino profits and restrictions on the number of gamblers allowed into riverboats are hurting the industry and, subsequently, reducing the amount of tax money generated.
An estimated $317 million in tax revenue could be raised through cutting the maximum tax on casino profits from 50 percent to 35 percent, eliminating the restrictions on riverboat capacity and issuing a 10th riverboat casino license, Swoik said.
"We could generate more money for the state then what is currently being generated," he said.
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