Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Local Finance topic
No spam. Unsubscribe anytime.
Denton trustees move to amend keno contract; review October keno proceeds
Summary
Trustees reviewed Keno October proceeds and asked the village attorney to redraft the keno contract to lower the village payout from 7% to 5% and the operator payout from 13% to 11%; the current contract expires July 2025.
The Denton Board of Trustees reviewed October 2024 keno financials and voted to request a contract amendment that would reduce the village’s contracted payout and the operator’s share.
The treasurer reported Keno October 2024 gross proceeds of $557,992.38, with the village share listed as $39,416.86 and operator share $67,555.01. Trustees discussed a proposed two-year contract amendment (the existing contract expires July 2025). On a motion by Trustee Amanda Fangmeier, seconded by Trustee Doug Rosekrans, the board directed the village attorney to re-draft the keno contract to lower the village’s gross-proceeds payout from 7% to 5% and lower the operator payout from 13% to 11%.
The minutes do not record attorney comments, a projected revenue impact from the change, or whether the operator agreed. The motion instructs staff to pursue a redraft; any final contract would return to the board for approval.
