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Denton trustees ask attorney to redraft keno contract, propose cutting village share from 7% to 5%
Summary
With the current keno agreement expiring July 2025, trustees voted to request the village attorney re-draft the keno contract to lower the village gross-proceeds payout from 7% to 5% and the operator payout from 13% to 11%.
The board discussed an amendment to the keno contract, which is set to expire in July 2025. On a motion by Amanda Fangmeier, seconded by Doug Rosekrans, trustees directed the village attorney to re-draft the contract to reduce the village’s gross-proceeds payout from 7% to 5% and the operator payout from 13% to 11%.
The minutes record the direction to the village attorney but do not include a revised contract text or projected revenue impact. The existing keno report for October 2024 lists gross proceeds of $557,992.38 and the village share for that month as $39,416.86, figures the board may use in later negotiations or financial modeling.
