Commissioners in Vigo County, Indiana recently approved a local development agreement with Churchill Downs Inc. to establish the Queen of Terre Haute casino on Terre Haute’s east side.
The agreement, required under state law, mandates that Churchill Downs will pay 3 percent of its adjusted gross revenue up to $175 million to the nonprofit Queen of Terre Haute Foundation Inc., and 3.25 percent of revenue more than $175 million. Also, Churchill will pay the foundation 3 percent of taxable sports wagering adjusted gross income.
In its proposal to the Indiana Gaming Commission, Churchill Downs officials estimated the Vigo County casino would generate $639.9 million in gross gaming receipts in the first five years, based on 6.7 million visits. A separate economic impact study indicated the casino would have an annual regional economic impact of $190 million, including 1,000 construction jobs and 500 permanent jobs.
The Queen of Terre Haute Foundation will focus on economic development; health and wellness; infrastructure; quality of life; talent attraction/retention; and tourism. It will be governed by an 8-member board.
The state also will collect a supplemental wagering tax, formerly known as an admissions tax, on each individual who enters the Terre Haute casino. In 2019, that tax was projected to bring in more than $2.6 million. Revenue collected will be distributed among the city of Terre Haute, Vigo County, the Vigo County School Corp. and a Chamber of Commerce initiative.
