Evansville expects riverboat operating revenue fund to continue to drop

By Jimmy Nesbitt, Evansville Courier & Press

As the city budget hearings continue this week, one thing has been made clear: income from Evansville's riverboat operating revenue fund will continue to drop.

The fund dropped from $13.5 million in 2006 to $9.8 million in 2007. The city has received $4.5 million in riverboat operating revenue from Casino Aztar through June and expects to receive $9.6 million for the year. The city projects that figure to drop to $9.3 million in 2009.

Part of the reason for the dip is increased competition from French Lick Casino, which opened in October 2006.

Riverboat funds are used to pay for a variety of capital projects. One project that caught the attention of several City Council members was $1.6 million for a new fire station in 2010.