Latest Gun Lake casino payment nearly $8M
The last payment six months ago totaled slightly more than $8.7 million.
The tribe that owns the Gun Lake Casino in Wayland Township has announced its latest six-month revenue-sharing payment covering October through March, which yielded $6,316,920 to the state government of Michigan and $1,597,230 to the local governments’ revenue-sharing board.
The revenue-sharing payments are in lieu of taxes and are part of the terms of the Gun Lake Tribe’s gaming compact with the state.
The revenue is based on the casino’s net take on its slot machines. The local share is 2 percent of the slot net win, and the state payment is calculated on a sliding scale between 8 and 12 percent.
The state revenue-sharing payments are dependent on the continued preservation of the tribe’s exclusive right to operate casinos in its market area. The market area, as defined by the compact, includes the cities of Grand Rapids, Kalamazoo and Lansing, and the counties in which they are located.
The six-month payment made last fall totaled $7.1 million for the state and $1.68 million for the local governments.
“This revenue-sharing distribution marks a very significant milestone. Today, we have given over $50 million to state and local governments in support of many worthwhile causes,” said D.K. Sprague, chairman of the Gun Lake Tribe. “The tribe is proud to continue making meaningful contributions to the community.”
Gun Lake Casino opened in February 2011 and employs more than 800. The Gun Lake Tribe has now shared $52,235,219 with state and local governments over seven payments.
The Gun Lake Tribe is formally known as the Match-E-Be-Nash-She-Wish Band of Pottawatomi Indians. The Bradley Indian Mission, which is within three miles of the casino site, is the historic residential and cultural center point of the tribal community.
The casino is operated for the tribe by MPM Enterprises, an affiliate of Station Casinos Inc. of Las Vegas.