Jackpot: Gun Lake pays revenue sharing

WAYLAND, Mich. (WOOD) - Officials with the Gun Lake casino presented a revenue-sharing check of nearly $1.6 million to the local board for distribution in the community, and another $6.4 million to the state.

Tribal chairman D.K. Sprague presented the $1,598,051.11 to revenue-sharing board representatives. Additionally, a check for $6,392,204.50 was given to Rep. Bob Genetski for the state of Michigan

The local revenue share equals 2% of net earnings from electronic gaming devices, while the state payment is calculated on a sliding scale between 8 and 12%, depending on revenue.

That means the casino, over the last six months, made $79,902,555.50 net earnings (after factoring out payouts) from electonic gaming devices - mostly slot machines.

This is the third payment for the casino.  

The first payment covered the first few months  of operation last year, and was for $514,871. The second payment for the last six months of 2011 was for $1,560,441.

That calculates to net earnings in that time period from electronic gaming devices of $78,029,850, so it appears business is remaining steady.