City Council

8. CONSIDERATION AND APPROVAL OF A RESOLUTION APPROVING AN AMENDMENT\nTO THE GROSS REVENUE LICENSE FEE IMPOSED ON PARKWEST BICYCLE\nCASINO\nBeginning as of August 2022, Parkwest Bicycle Casino has invested post tax revenue to\nincentivize additional gaming by implementing Bonus Chip Promotion and Player Reward Points\n(“Incentives Program”). The Incentives Program has been mutually beneficial to the City and\n4\nParkwest Bicycle Casino because it has increased gross revenues from gaming operations, which\nhas the effect of increasing license fee revenues for the City. The City and Parkwest Bicycle Casino\ndesire to amend the gross revenue license fee prescribed in BGMC Section 5.25.120.A for a limited time\nperiod by reducing from monthly gross revenues the post-tax amount invested by Parkwest Bicycle\nCasino in the Incentives Program.\nRecommendation:\nIt is staff's recommendation that the City Council adopt the attached Resolution approving an\namendment to the gross revenue license fee imposed on Parkwest Bicycle Casino for the period\ncommencing August 1, 2022, and ending December 31, 2023.