Players Casino in Ventura, CA, to Get a New Home
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Players Casino in Ventura, CA, filed for bankruptcy and shut down permanently last December. The city council has given preliminary approval for Players Casino to reopen at a new location.
Players Casino in Ventura, CA, has been approved to temporarily open at the Derby Club at Venture County Fairgrounds. The relocation was approved by the Ventura City Council last week in a 6-0 vote. Ventura had expected to earn around $2 million in tax revenue from the casino for its 2021-22 fiscal year. However, the relocation is only temporary and the city won't be able to count on the 15% tax revenues it might have received.
Players Casino in Ventura, CA, will pay the city a reduced rate every year until 2025. Casino will give up 10% of its operations and defer 5% until 2027. City council will receive around $1.3 million a year. If the casino fails again, Ventura can cut off the arrangement and suspend Players’ license.
