Economic Contributions
Each year the Grand Victoria Casino Elgin donates 7.5% of its adjusted net operating income to the Kane County Board and 12.5% to the Grand Victoria Foundation. In 2008, Kane County received about $8 million to use for internal programs, about $1 million of which was available for projects benefiting the county's educational, environmental, and economic needs. Grants for these projects are recommended by Kane County's riverboat committee, but both the executive committee and the county board must approve the funds before they can be distributed.
In addition to the Kane County Board and the Grand Victoria Foundation, The city of Elgin receives its own portion of the Grand Victoria's revenue. Casino profits led to the removal of the $25 vehicle license fee as well as a yearly property tax rebate for senior citizens. Today, the city continues to allocate funds for housing restoration. In 2007 specifically, the city allocated twice as much money as usual for housing rehabilitation. Money is also dedicated to the following causes:
- Toy collecting
- Not-for-profit organizations
The Grand Victoria Foundation sponsors additional community programs, such as film screenings, at Gail Borden Public Library in Elgin.
Read more about this topic: Grand Victoria Casino Elgin
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