Lawrenceburg Gives Breaks To Argosy Casino

The city of Lawrenceburg, Indiana has reached a tax-break agreement with Argosy Gaming Company that will help the gambling company expand. Under the plan announced Monday, the casino will receive a tax reduction of up to five million dollars every year for a decade, but only after it generates $30 million in revenue for the city. Alton, Illinois-based Argosy also must reinvest as much as it receives in tax credits into improvements to its Lawrenceburg property on the Ohio River. The company is working to finalize its expansion plans. Argosy's president says the expansion will add jobs and boost community tax revenues. Argosy says the Deaborn County casino has generated $801 million for local and state governments since opening in late 1996.