Boyd License Could Benefit Town

23 March 2006

LIMERICK, Pennsylvania – As reported by the Mercury News: "Should Boyd Gaming be granted a state license for a slots parlor off the Sanatoga exit of Route 422, the township stands to gain more than twice the amount of money that was originally promised.

"Pennsylvania's gaming law entitles host municipalities to a portion of a casino's revenues. That portion is equal to half of the host municipality's 2003-04 general fund budget; however, the state House passed a bill last week that would up the ante for small municipalities where a casino is proposed.

"An amendment to Senate Bill 862 would essentially remove the cap that limits gaming revenue to 50 percent of smaller municipalities' general fund budget. Under the amendment, those municipalities would receive 2 percent of the casino's gross revenue or $10 million, whichever figure is higher. The 148-page bill must now be sent back to the Senate for reconsideration.

"Limerick's general fund budget for 2004 was $5.4 million, which, under the original bill, would have meant that Limerick would receive about $2.7 million. The amended bill would add an additional $7.3 million to township coffers…"


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