More Issues Arise With Chicago Casino Plans

For months, lawmakers in Illinois have discussed ways to effectively run a new casino in Chicago. It’s been difficult, as state officials are setting unusually high tax rates on this gambling venue. Recently, even more issues have come up with the Chicago casino plans.

Picture Of Slot Machines

It’s frustrating news for proponents of this new casino. Now is the perfect time to look at why exactly it’s so difficult to open this establishment.

Illinois Continues to Push for Casino Expansion

In the 1990s, lawmakers in Illinois approved plans to allow riverboat casinos. The state’s casino industry continued to grow over the years and officials have looked for new ways to generate revenue. Earlier this year, Governor JB Pritzker approved a new Capital Plan that allows for five new gambling venues to open around the state.

Pritzker believes that more revenue from the gambling industry will help to improve the state’s infrastructure. Several locations are now being considered for these new casinos.

One gambling venue has been approved to open in Chicago. It’s the first time ever that a casino has been officially greenlit to open in this major city. Exactly where in Chicago this casino will open is still unknown.

Gambling fans in this state have been eagerly awaiting the new casino in Chicago to open. Unfortunately, this venue is taking longer to open than initially expected. One of the main problems is the aforementioned tax rates that lawmakers have set on this future gambling venue.

The Chicago casino plans are hitting even more issues this month. Many believe that unless something changes, it will never be constructed.

More Problems With the Chicago Casino Plans

If all goes according to plan, Chicago will become the largest US city with a casino. Unfortunately, lawmakers are making things as difficult as possible. They’ve set an absurd 72% tax rate on this gambling venue.

Such as high tax rate makes it virtually impossible for this casino to generate any profit. As a result, many major US casino operators are choosing to stay away from this city. Several have already told the media they have no intention of operating a gambling venue in Chicago.

Lawmakers here recently had the opportunity to change the Chicago casino plans. Hope was that they would agree to lower the tax rate. This did not happen.

Officials here adjourned the fall session without making any changes. Lori Lightfoot, Chicago’s Mayor, claims she will address the issue again in January.

“With so much potential on the line, our city and state deserve to get this done and get this done right,” she said.

Several Chicago neighborhoods have also voiced their disapproval with these gambling venues. Some believe they will increase crime. Based on the way things are going, it will be years before any concrete Chicago casino plans are officially approved.

Competition Continues to Increase Around Illinois

It’s clear that lawmakers in Illinois want to generate more money from the gambling industry. This isn’t the only state with this idea, though. Many nearby states have also recently introduced legislation to expand their gambling markets.

Indiana is also taking measures to allow more casinos. The state’s governor recently approved plans to allow for two new land-based casinos to open.

Lawmakers in Wisconsin also have similar ideas. They’re currently working on plans to open a $405 million gambling venue in Beloit.

State officials continue to review the Chicago casino plans. Over the next year, the Illinois Gaming Board will review plans and applications.

Make sure to stay tuned for more Illinois casino news over the next few months!

Lawmakers Pass Up Plans to Lower Chicago Casino’s Tax Rates

Back in June, Illinois Governor JB Pritzker officially approved a new $45 billion capital plan that allows for the construction of five new casinos throughout the state. One of the casinos will be constructed in Chicago for the first time ever, yet high tax rates set on this gambling venue are pushing investors away. Recently, lawmakers in the state passed up on plans to lower the Chicago casino’s tax rates.

Chicago City Skyline

It’s disappointing news, particularly for Chicago Mayor Lori Lightfoot, who’s been working hard to make the opening of a casino in her city feasible. Today, we’re going to look at what the state currently has planned for this gambling venue.

Let’s get into it!

Five New Casinos Set to Open in Illinois Over the Next Few Years

Officials in the state of Illinois have recently chosen to embrace the gambling industry. First, they approved plans to allow five new casinos in the state. Not long afterward, politicians here approved a bill to legalize and regulate sports gambling.

The move to increase the number of casinos in Illinois came as part of the new capital plan. Essentially, it’s a way to help improve the state’s infrastructure. Lawmakers want to rebuild roads, schools, bridges, and more. Money from the new casinos is one way to help achieve this.

Legal sports betting will also help to make things easier. Sports betting has been proven to bring in millions of dollars to states every single month. New Jersey, which only legalized this industry in the summer of last year, now has a more lucrative sports betting industry than Nevada’s.

For the first time, a casino will be opened in Chicago. At first, it seemed as if all of the biggest US casino companies would begin pushing to operate this casino. Unfortunately, the Chicago casino’s tax rates are extremely high. Many companies claim that because of this, it would be impossible to make a profit.

Mayor Lori Lightfoot seems to agree. Last week, she met with lawmakers and pitched her idea to lower the tax structure for this casino. Unfortunately, lawmakers didn’t seem interested in making any changes.

Illinois Lawmakers Pass On Plans to Change Chicago Casino’s Tax Rates

The Chicago casino has been trouble from the very start. First, officials needed to find a suitable location for this gambling venue. Several areas of the city were discussed yet many complained that none were suitable. Then, many began voicing their opinion that the Chicago casino’s tax rates were far too high.

The latter complaint certainly had some validity. The tax rates for this casino (of 72%) are some of the highest in the country. Mayor Lightfoot realizes that this is causing most companies to look the other way. She pitched her new tax plan to state officials last week.

Unfortunately, these lawmakers decided to pass on her new plan. They were unable to agree on a plan to change the tax structure. Due to this, no changes can be made until 2020.

Lightfoot claimed that she was “disappointed that a much-needed fix to the gaming bill won’t be made.” She also added that “the Chicago casino is still very much in the sightline.” 

Hopefully, lawmakers can come to a new agreement in January. Until something changes, it’s highly unlikely that any company will invest in a Chicago casino.

What to Expect in the Future

It’s clear that something needs to change with the state’s new casino plans. Lawmakers here are still discussing where the additional four casinos will open. A decision on whether or not to award a south suburban casino license to Calumet City, Homewood, Lynwood or Matteson will be made by October of 2020.

It seems likely that in time, officials here will realize that the Chicago casino’s tax rates are too high. No company will invest in a venue that’s clearly not profitable.

The legalization of sports betting will certainly help things. Soon, both online and in-person sports betting will become available here. Revenue from this industry will shed light on just how profitable the state’s gambling industry really is.

It’s unclear exactly when the tax structure for the casino in Chicago will change. Governor Pritzker claims that he wants to help Lightfoot with her new plan.

Stay tuned for more Illinois gambling news over the next few months!

Lori Lightfoot Wants a Change to Illinois’ New Casino Plans

Lawmakers in Illinois are currently working to expand the state’s casino industry. Part of this plan is to allow a casino in Chicago. This week, Chicago Mayor Lori Lightfoot commented on Illinois’ new casino plans.

Lori Lightfoot At Press Conference

There are questions surrounding tax rates for this Chicago casino. State officials are busy working on ways to attract casino operators while keeping things profitable for the state. Here’s what’s going on right now.

The New Capital Plan in Illinois, Explained

Illinois hasn’t always been thought of as a gambling-friendly state. In recent years, however, lawmakers here have recognized the major revenue potential from this industry. In June, Illinois Governor JB Pritzker signed the state’s new capital plan, calling it “the most comprehensive reconstruction effort in this state’s history.”

This new plan is aimed at improving Illinois’ infrastructure. It allows for five new casinos to be constructed around the state. One of these casinos will open in Chicago. It’s the first legal gambling venue to ever open in the Windy City.

$45 billion is being invested in the state’s capital plan. Hope is that revenue from casinos here can help to reconstruct roads, bridges, and schools. Gambling fans around the state are eagerly awaiting these new casinos to open.

Unfortunately, some of the country’s top gambling companies aren’t interested in operating this Chicago casino. Many claim that the tax rates being set on the gambling venue making it impossible to gain a profit.

Lori Lightfoot has been working to revamp Illinois’ new casino plans. This week, she officially presented her pitch to rewrite legislation for the casino in Chicago.

Chicago Mayor Wants Changes to Illinois’ New Casino Plans

At first, the news of a casino being approved in Chicago was exciting. More than 2.7 million people live in this city, many of whom claim to gamble on a regular basis. Unfortunately, issues have already come up with regard to this new gambling establishment.

This week, Lori Lightfoot made an official pitch to state lawmakers to rewrite legislation surrounding Illinois’ new casino plans. The mayor presented her new ideas for this gaming bill. She claims that the current 72% tax rate set on the Chicago casino would make it impossible to attract investors.

“We feel like things are moving forward in a positive direction but we’ve got to get the language finalized and get it to the respective chambers so that legislators can see what the outlines of the legislation look like,” the mayor said. 

Governor Pritzker seems optimistic that Lightfoot’s plans can be approved before the fall veto session wraps up.

“It’s good for the city, it’s good for the state, so we will be working very hard to try to get something through,” Pritzker said. “There is still some negotiation discussion going on, but I am hopeful that over the next three days we will be able to get it through.”

We’ll need to wait and see how lawmakers feel about the mayor’s new plans. Hopefully, they can come to an agreement and US casino companies can begin getting excited about opening a venue in Chicago.

Illinois Will Soon Have Sports Betting Options Available

It’s clear that officials in this state are trying their best to capitalize on the gambling industry. Illinois’ new casino plans are currently being worked on, and sports betting options are just around the corner. This is all thanks to the US Supreme Court striking down PASPA in May of 2018.

With PASPA now gone, every state can set its own laws on the sports betting industry. Lawmakers in Illinois officially approved a sports gambling bill in June of 2019. Soon, both online and in-person sports betting will be available here.

Illinois will likely have one of the most lucrative sports betting markets in the country. This state is home to several major sports teams including the Chicago Bears, Chicago White Sox, and the Chicago Blackhawks.

It’s unclear exactly when the state’s regulated sports betting industry will open up. Lawmakers here are still working to grant licenses to sports gambling operators.

Do you think Illinois’ new casino plans will be effective at generating revenue? Should tax rates be lowered for the casino in Chicago? Let us know what you think in the comments section below!

Haven Gaming LLC Reveals Plans for Casino in Danville, IL

Over the next several years, five new casinos are expected to open in Illinois. The state government here believes that casinos will help bring the state millions of dollars in additional revenue every year. Recently, a major developer revealed its plans for a casino in Danville, IL.

Illinois Symbol

If these plans are approved, Danville will receive more than just a casino. It will be home to an entire resort. Today, we’re going to look at the details of this new plan. We’ll also talk about some of the other areas of the state where casinos will open. Let’s get into it!

Illinois’ New Capital Plan Allows for New Casinos to Open

Many states around the country are beginning to expand their gambling industries. PASPA’s removal has allowed every state to set laws on sports betting. Several states have also recently chosen to legalize online casino gambling. It’s a great time to be a gambling fan in this county.

For months, politicians in Illinois discussed ways to generate more revenue. In June, Governor JB Pritzker revealed the state’s new capital plan, claiming it would “fix what’s broken in Illinois.” To the surprise of many, this capital plan allows for five new casinos to open up around the state.

The $45 billion plan is said to be the largest in the state’s history. This capital plan will help to reconstruct roads, bridges, and schools.

For the first time ever, lawmakers have approved a casino to open in Chicago. Unfortunately, many of the country’s top casino operators are voicing their concerns about running a casino in the Windy City. High tax rates and an overly saturated market are making it difficult for the state’s Gaming Commission to find a company interested in operating a Chicago casino.

This week, a major developer revealed its plans for a casino in Danville, IL.

Plans for a Casino in Danville, IL Are Presented to City Council

Danville is one of five Illinois cities set to host a new casino. Since this capital plan was first announced, several companies have announced their interest in opening a gambling venue here. Haven Gaming LLC was eventually granted a license to build and operate a casino in this city.

Recently, this company presented its official plans for the casino in Danville, IL. Interestingly, this company intends to open a resort-style gambling establishment. If approved, Haven Gaming will open a venue that includes a hotel, spa, several restaurants, a swimming pool and lazy river, live entertainment venue, and more.

Not many expected such an expansive plan from this company. Bill Bembenek, an official at Haven Gaming LLC, recently commented on these plans to the media.

“This is more than just the typical casino. It will be a resort complex. A destination. A place that people will be excited to come to, and more importantly, more excited to want to come back to,” he said. “We’ve opened similar resorts like this across the country, and this is really the new evolution of what gaming really is. It’s a multi-level experience.”

Haven Gaming hopes to have this casino-resort up and running by the end of 2020. The company claims that the project will result in more than 400 construction jobs and 1,000 permanent jobs within the casino.

Illinois Still Unlikely to Legalize Online Casinos

Lawmakers in Illinois are showing a unique willingness to expand the state’s land-based betting industry. Unfortunately, no one here is expressing much of an interest in regulating online casinos. As of now, only three states in the country have regulated internet casino markets.

Both online and land-based sports wagering all set to become available here over the next few months. With this in mind, it’s very possible that officials here will choose to regulate online casino websites in the future.

There are already some fantastic online casinos in IL that are available right now. These websites are not regulated by the government, yet almost all of them are perfectly safe and offer a wide range of fantastic gambling options. Check some of them out today!

We now know more about the plans for the casino in Danville, IL. This new gambling venue will likely become the best in the state. Hopefully, it helps to bring Danville and Illinois millions of dollars in revenue each year.

Slot Machines in Illinois Airports Could Bring State Millions

Last month, Illinois Governor JB Pritzker signed a new capital plan that allows for six new casinos to open in the state. This week, a study was released that indicates slot machines in Illinois airports could bring the state millions in additional revenue each year. It’s exciting news for lawmakers here looking to cash in on the gambling industry.Slot Machines Inside A Casino

Today, we’re looking at the details of the recent study on airport slots. We’ll also talk about why many companies are turning down the opportunity to run a casino in the Windy City.

Union Gaming Analytics Releases Study on Illinois Casinos

Ever since the recent capital plan was passed, casino companies and politicians have discussed the feasibility of a Chicago casino. Illinois has some of the highest tax rates on the gambling industry and as a result, several major casino operators are staying away from here. Union Gaming Analytics recently conducted a study on how much money slot machines in Illinois airports could make.

According to this group, it’s a substantial amount of money. In the 50-page feasibility report, Union Gaming states that slots at O’Hare and Midway airports could earn upwards of $37 million every year. This revenue figure is based on having 500 slot machines in both of these airports.

It’s a surprising figure to many. As of now, only airports in Las Vegas and Reno offer slot machine gambling. Lawmakers in Pennsylvania recently passed legislation to allow gambling in airports, as well, yet none have officially begun offering slot games.

Union Gaming Analytics claims that these slots would function, “namely as an option for some travelers to pass time.” The group believes that each slot machine could earn about $200 per day, amounting to $36.5 million over a year.

Who Would Own and Operate the Slot Machines in Illinois Airports?

Finding reputable casino operators to break into the Illinois market hasn’t been easy. As we’ve already mentioned, this state has some of the highest tax rates on casinos in the entire country. Under the new capital plan, casinos are facing a 72% tax rate on all revenue earned.

As you might expect, some of the top US casino operators are claiming that Chicago, and Illinois as a whole, is not a lucrative market. Las Vegas Sands has already claimed they are not interested in opening a Chicago casino. MGM Resorts echoed that statement.

As of now, the plan is for whatever company chooses to run the new casino in Chicago to operate airport slot machine gambling, as well. The state’s gambling expansion bill allows for the Chicago casino operators to offer 4,000 slots. Any of these gambling machines added to airports will count against this figure.

Even if the Chicago casino isn’t successful, the airport’s slots will be, according to Union Gaming.

“As such, greater total revenues and taxes would be achieved by [allocating] a few hundred slot machines to Midway and O’Hare airports,” the study concluded. 

Online Casino Gambling Continues to Grow in Chicago

Lawmakers in Illinois are clearly interested in earning more revenue from the gambling industry. Sports betting was recently legalized here and six new casinos are set to open up over the next few years. Interestingly, there hasn’t been much of a push to regulate online casino gambling in the state.

Today, only three states have regulated internet casino gambling markets. New Jersey controls one of the most lucrative internet gambling markets in the country with millions being generated each month.

Fortunately for fans of gambling here, there are still a large number of great online casinos in Illinois currently available. These websites generally offer just as many gaming options as the country’s top-land based casinos. They also provide a range of safe, quick payment options.

It’s important to note that these websites are not regulated by the state. Based on the way things are going here, this may change in the near future.

Slot machines in Illinois airports may be right around the corner. First, however, Illinois politicians will need to approve an operator to take control of the proposed casino in Chicago. Make sure to stay tuned for more updates on Illinois’ gambling industry over the next few weeks!

Study on the Chicago Casino Locations Being Released This Week

In late June, Illinois Governor JB Pritzker signed a new $45 billion capital plan that allows for six new casinos to open in the state. This includes a new casino in Chicago. Today, a study on the Chicago casino locations is being released.

Chicago City Skyline

There are several possible locations for a brand new casino in the Windy City. Today, we’re looking at where this casino may end up. We’re also going to look at some other major gambling developments happening here. Let’s get into it!

Illinois’ Capital Plan Allows for Five New Casinos

Lawmakers in Illinois have been looking for new ways to generate revenue for the state. With gambling growing more popular around the country, politicians here decided it was time to get in on the profits. Governor Pritzker officially signed a new $45 billion capital plan that allows for six new casinos to open up.

Most of these casinos will be located in rural areas. The cities of Waukegan, Rockford, Danville, Williamson County, and an unnamed city in Cook County have all voted to open a gambling establishment. In Cook County, a “racino” will be opened, as opposed to a traditional land-based casino.

It’s exciting news for gambling fans around the state. Illinois is known for having a passionate gambling fan base. Hope is that the new gambling venues here will generate much-needed revenue each month.

The proposed casino in Chicago is getting the most attention. It’s the first time that a legal casino will operate in the city limits. Now, lawmakers are working to decide where this new casino should open.

Study on the New Chicago Casino Locations is Being Revealed

Today, Chicago Mayor Lori Lightfoot is introducing a new $120,000 feasibility study that evaluates five areas around Chicago for the new casino. Lightfoot claims that the study will allow lawmakers to decide whether or not these locations can hold a new gambling venue. Here are the locations currently being discussed.

  • The Old Michael Reese Hospital site in Bronzeville, south of McCormick Place.
  • A vacant parcel in Lawndale at Kostner Avenue and Roosevelt Road on the west side.
  • Next to Harborside International Golf Center in the Chicago port district on the far southeast side.
  • South Works – an old U.S. steel site in the far south side of the city.
  • A parcel of land at Pershing and State – four blocks south of Guaranteed Rate Field on the south side.

There are already many complaining about the proposed sites. Pat Dowell, a resident of Bronzeville, feels that the area is not made to hold a major gambling venue.

“A casino … is simply not appropriate for this site,” he said. “A Bronzeville casino would destroy the neighborhood’s character without maximizing the benefit to Chicago.”

Dr. Michael Wenz, an economics professor at Northeastern Illinois University, gave his take on the perfect Chicago casino locations.

“You want to be in a place where you’ll have a high demand for gambling services, and being close to downtown Chicago is a way to address that,” he said. “So I’d be in a place where you can draw the gamblers from downtown, especially tourists, but draw the economic development and employment opportunities from the areas you want to draw the workers from.”

Illinois Set to Legalize Sports Betting

Back in May of 2018, the US Supreme Court struck down PASPA, opening the doors for each state to set its own laws on sports gambling. Today, 10 states have now legalized sports betting and many more have pending legislation to open the industry. Illinois is just about ready to open up sports gambling, as well.

In June, the Illinois Legislature passed a bill to allow both land-based and online sports betting. This bill also allows for placing sports bets in major sports venues including Wrigley Stadium. Placing bets on minor league sports will remain illegal.

There are also many calling for the state to begin regulating online casino gambling. There are currently many great online casinos in Illinois. Unfortunately, the state does not regulate these websites.

Five Chicago casino locations have been revealed. Now, we’ll need to wait and see how lawmakers evaluate these sites. Stay tuned for updates on where this casino will end up over the next few weeks!

Churchill Downs Announces New Casino Expansion Plans

Illinois is fully embracing its gambling industry. Not long ago, Governor J.B. Pritzker signed a new gambling bill into law that allows for new casinos and legal sports betting. This week, Churchill Downs, one of the largest gambling operators in the state, announced new casino expansion plans.

Flag Of Illinois

This company already operates one of the most successful casinos in the state. Churchill Downs is preparing to add significantly more gambling options to this gambling venue. Here’s what we can expect over the next few years.

Illinois Lawmakers Approve Gambling Expansion Bill

Many US states are actively working to expand their gambling industries. Back in May of 2018, the US Supreme Court struck down PASPA, allowing each state to set their own laws on the sports betting industry. Almost immediately after, several major states began to legalize sports gambling, and some decided to allow online casino gambling.

Competition is higher than ever in the US gambling market. Lawmakers are finally beginning to realize the huge potential for revenue gains through this industry. In June, Governor Pritzker officially signed a new gambling expansion bill into law.

Under this new set of laws, new casinos can be constructed in five different Illinois cities. This includes a brand new casino in Chicago. It also gives the state’s existing casinos the option to increase their amount of gambling options.

One of the largest casino operators in this state has announced that they plan to do just that. It’s exciting news for what is already some of the most popular gambling venues in Illinois. Let’s look at what this company has planned!

Churchill Downs Ready to Expand Its Casino Operations

Churchill Downs, a Louisville-based casino and racetrack operator currently controls the largest casino in Illinois, the Rivers Casino in Des Plaines. In March, this company purchased a 61% stake in the gambling venue. Almost immediately after the new gambling bill was set in place, this company began preparing to upgrade the casino.

Officials in this company announced they plan to add 800 new gambling positions for their Des Plaines casino. They are also working to obtain a sports betting license. The company officially notified the Illinois Gaming Board of these expansion plans.

Bill Carstanjen, CEO of Churchill Downs, announced several other new plans for this casino, as well. He states that the company will expand the garage, and add more room to the gaming floor.

“Rivers will be working with the Illinois Gaming Board to ascertain what is permissible and to scope out the timing and full capital plan,” Carstanjen said.

This is an exciting time for Illinois’ gambling market. The land-based casinos here are set to expand and over the next few years, several new casinos will begin opening up.

Illinois Goes All-In On Sports Betting

It’s well-known that Illinois has one of the most passionate sporting fan bases in the country. Several professional sports teams call this state home, including the Chicago Cubs and Chicago Blackhawks. With PASPA now gone, this state quickly began the process of legalizing sports gambling.

Churchill Downs is eager to get in on the regulated sports betting market. Mr. Carstanjen announced that the company will pay $10 million for a sports betting license. Both land-based and online sports gambling will be available through Rivers Casino.

“We’re very excited about the potential of the Illinois sports wagering market,” he said. “We will participate in this new market through our 61% ownership of Rivers and certainly we have the option to do so separately through our horse racing licenses. We will announce our plans soon.”

Hope is that in time, lawmakers in Illinois will also begin to regulate the internet casino gambling industry. There are already a huge number of great online casinos in Illinois, yet none are regulated by the state government. Regulation of this industry would bring in millions of dollars to the state each month.

The Illinois Gaming Board will schedule its next meeting on August 8th. Make sure to stay tuned for updates on the meeting after it takes place!