Where Will the New Casino in Chicago be Situated?

Chicago Image

Lawmakers in Illinois continue pushing to expand the state’s casino industry. Much of the discussion is centering around plans for the new Chicago casino. Many analysts are now debating where the new casino in Chicago should be located.

There are several locations that could accommodate a new casino. Some are thought to be more ideal than others. Today, we’ll talk about some of the most-likely areas for the new gambling venue to open its doors.

Let’s get into it!

Illinois’ Casino Industry is About to Reopen Once Again

There are a large number of world-class casinos in the state of Illinois. Some of these are tribal casinos owned and operated by Native American tribes. Others are commercial casinos owned by some of the country’s most powerful gaming companies.

Interestingly, state officials want to expand this industry. Back in 2018, Governor Pritzker passed a new Capital Plan to open several more casinos around Illinois. That includes a new casino-resort in Chicago; the first of its kind.

2020 ended up halting these plans. For several months last year, all of the casinos in this state were completely shut down. They began reopening during the summer, yet state officials forced commercial casinos to close down again several months later.

Soon, the casinos in Illinois will finally be allowed to reopen. It’s exciting news for the companies that operate these venues. As Illinois enters into Tier 2 of its reopening process, casinos will be given permission to begin operating at a limited capacity.

It will take a long time before these casinos see the revenue figures experienced back in 2019. The world’s casino industry has been devastated by the events that unfolded last year. Hope is that we see an improvement over the next six months.

Many are now looking ahead to the casino expected to open in Chicago. Here’s a quick update on this exciting new property!

Analysts Continue to Debate a Location for the New Casino in Chicago

When news broke that officials were preparing to open a new casino in Chicago, it spread like wildfire. Many felt it would never happen. This city has never hosted an established casino-resort in its history.

Initially, it seemed likely that this would be a hugely successful gambling property. Chicago is already a major tourist destination. Many believed that opening a casino-resort here would help to significantly boost tourism rates in the city.

Unfortunately, the state set unusually high tax rates on this venue. Many casino companies withdrew from the running to obtain a license to operate this property. The issue of location has also been a big one lately.

No one seems to know where in Chicago this property will be situated. There are several areas of the city still in the running. Lakeside Center and The Chicago Tribune’s Freedom Center are two interesting locations. Many city officials are putting more thought into opening the new casino in Chicago in these areas.

It’s an interesting situation. Everyone wants to ensure that this new casino is as successful as possible. Location will play a huge role in its success. Most analysts agree that the locations being discussed are the best options right now.

Chicago is set to receive an incredible new casino-resort in the near future. We’ll be sure to offer more information on this situation over the next few months. Stay tuned for updates!

State Officials Set a New Tax Rate on Sports Betting Winnings

Back in May of 2018, the Supreme Court struck down PASPA. This gave every state in the country the option to legalize and regulate sports betting. Now, three years later, more than half the country has a sports betting industry.

Illinois’ first sports betting options went live back in March of 2020. Since that time, the industry here has grown steadily. Both land-based and online sports wagering are available in this state. It’s proven extremely valuable in the form of taxes.

This week, reports surfaced claiming anyone that makes over $600 in sports bets will now need to report their winnings to the state. These earnings will be taxed at 15%. Nicholas Royer, a financial advisor for MRFC, believes this will benefit the state in a big way moving forward.

“What happened is the state realized that 94% of sports gambling is now done online. And so they looked at this as, Oh, it’s a revenue that we can create for ourselves now that this is actually happening,” he said. “Illinois, is the fourth biggest in online gambling and sports betting right now in the country. Only behind Nevada, I think New Jersey and Pennsylvania. So it’s a pretty big deal and if we just look at September to October, just in that timeframe from September to October. There was a 42% increase in sports in sports gambling online.”

Many bettors are likely to be disappointed by this news. An increased tax rate could result in some choosing to wager through unregulated sites. In the long run, however, this will play a big role in bringing in some much-needed revenue for the state.

Are you excited to see the new casino in Chicago? Where do you think it should be located? Let us know in the comments section below!

Penn National Gaming to Open Three Barstool Sportsbooks This Week

Penn National Gaming
Three Barstool-branded sportsbooks will be opened by the end of the week in three regional casinos owned by Penn National Gaming.

According to the Pennsylvania-based casino operator, Barstool sportsbooks will open on December 23 at the Greektown Casino Hotel in Detroit, Michigan and at the Hollywood Casino Lawrenceburg in Indiana. Meanwhile, another Barstool sportsbook will be launched at the Ameristar East Chicago Casino & Hotel on Christmas Eve.

The Barstool sportsbook at Greektown is located at the second floor adjacent to the table gaming area. Meanwhile, Penn National rebranded the the existing sportsbooks situated in the entrance to the casino floor of Hollywood Lawrenceburg and by the entrance of Ameristar East.

Per Penn National SVP of Regional Operations Rafael Verde:

“The new designs incorporate the spirit of the Barstool Sports brand, resulting in unique sports wagering and dining experiences that we expect our customers will thoroughly enjoy.”

Part of the Rollout

The opening of the three sports betting shops is part of the rollout discussed by Penn National Gaming CEO Jay Snowden during the company’s third-quarter conference call last October. It can be recalled that Penn National Gaming kicked off the launch last month at the Ameristar Black Hawk in Colorado.

All three new locations feature a sports viewing area and dining space. It also has a betting counter with a large odds board, numerous betting kiosks, and ticker writing stations. The wagering area is close to the dining area and has several television sets showing different sports action from across the country.

Increasing its Reach

Penn National Gaming hopes to change and increase the reach of the demographic make-up of its customer base which is currently made up of the 45 and older age group. Last January, Penn National acquired a 36% stake of the sports media platform Barstool for $136M.

With the acquisition, Penn National hopes to take advantage of the estimated 66 million viewers of its website and social media content to improve its market standing. Currently, Penn National operates 41 gaming locations in a total of 19 states. That number will soon increase to 42 and 20, respectively, as it announced last week the purchase of the Hollywood Casino Perryville in Maryland.

Lori Lightfoot Wants More Information on the Chicago Casino

Chicago City

It’s been more than a year since lawmakers in Illinois approved a measure allowing several new casinos to open in the state. Unfortunately, there have been serious delays getting these new gaming venues up and running. This week, Lori Lightfoot began asking for more information on the proposed Chicago casino.

Many have been excited to see this new property open its doors. There are still questions over who will operate it, though. Today, we’re going to talk about what exactly is happening here.

Let’s get into it!

The Casino Industry in Illinois is Now Shut Down

Casinos around the United States continue to face difficulties. As cases of Covid-19 increase, more states are implementing tougher restrictions on their land-based gaming industries. Some states are taking more dramatic measures than others.

Over in Nevada, casinos are being hit with new capacity limits and tougher health restrictions. Tourism rates in this state continue to fall this year. Many of the biggest casino companies here have recently begun to shift their hours to save money.

Illinois has taken even more intense safety regulations. Not long ago, Governor JB Pritzker announced that all commercial casinos in the state were being ordered to shut down. It’s not much of a surprise when considering the massive increase in infections here.

Gambling operators here are disappointed by this news. It was less than two years ago that the state government passed a new capital plan allowing several new casinos to open in the state. Now, this state’s casino industry is coming to a halt.

Several other states have taken similar measures in recent weeks. The US casino industry is struggling in a way we’ve never seen before and analysts are torn on when things will begin to turn around. Hopefully, the casinos in Illinois won’t be forced to shut down for much longer.

Many are now calling for more work to be done on the proposed gaming venue in Chicago.

Lightfoot Asks Developers for an Update on the Chicago Casino

Lori Lightfoot has supported the plan to open a new casino in Chicago for years. When the capital plan was approved back in 2019, many felt work would immediately begin on this gaming venue. As most know, this has not been the case.

There have been many delays getting this property up and running. Initially, there was trouble getting companies to express interest in operating this venue. The tax rates on this property were extremely high and pushed many casino companies away.

The tax rate was then lowered and several companies began taking a closer look. Location then became an issue. Lightfoot recently began asking potential developers for tips on where they would like to see this venue.

This week, Lightfoot began demanding more information on the Chicago casino. It now appears she is getting some answers. The majority of developers claim that this casino should be located in Downtown Chicago.

Lightfoot seems open to this idea. She understands that opening the casino Downtown would maximize tourism and revenue.

The Chicago Mayor recently claimed that the responses from developers “are indicative of the excitement and anticipation of this once-in-a-lifetime project. Thanks to the responses of nearly a dozen RFI respondents, we are not only one step closer to bringing the long-awaited Chicago casino to life but have the critical information we need to ensure this project will be a success.”

It seems that lawmakers in Illinois are working hard to get this venue up and running. Hope is that things are a little more normal by the time this casino is ready to begin accepting players.

Illinois’ Sports Betting Industry Continues to Bring in Revenue

Lawmakers in Illinois finally approved sports betting earlier this year. It was a long time coming. This state has one of the largest sports betting fan bases in the country and many felt Illinois could become a sports gambling hub.

That has proven true! Since the first sportsbooks launched here, revenue from this industry has been slowly increasing. It’s great news for this state that is in desperate need of more revenue. September proved to be a highly profitable month for the sports betting operators here.

Reports claim that the state saw $305 million in sports betting handle last September. That’s nearly double from August’s handle. Most expect these figures to increase as the months go on.

Illinois is benefiting from its regulated online sports betting industry. Unlike some other states, Illinois allows residents to choose from a number of popular internet sportsbooks. It’s good news, as land-based sports betting is completely shut down here right now.

There is a lot happening with the gambling industry here. We are likely to hear more information on the Chicago casino in the near future. Make sure to stay tuned for updates!

Are you excited to see the new casino in Chicago open its doors? When do you expect this gambling property to open? Let us know in the comments section below.

Danville Casino Will Be Branded As Golden Nugget

Casino Roulette Table

The Danville casino currently being constructed will carry a national brand when it opens .

In an announcement made last Friday, the Developers of the Danville casino project said that Wilmot Gaming Illinois has entered into a joint venture with Tillman Ferttita’s Golden Nugget to build and operate a casino in Danville, Illinois pending regulatory approvals. The casino will be branded as Golden Nugget and feature a Landry’s Steakhouse.

Said Wilmot Gaming vice president James A. Wilmot on the deal:

“Wilmot is pleased to deliver Golden Nugget and GNOG to the City of Danville and is excited to partner with Tilman J. Fertitta. The Golden Nugget is a nationally recognized brand and strengthens the submission, provides additional opportunities, and upgrades the overall project. The Wilmot family would also like to personally acknowledge the efforts and support of the City Council and Mayor of Danville, IL; without their diligence and attention to detail this project would not be possible.”

Market Access

Under the definitive agreement, Golden Nugget is given exclusive right to offer online sports betting and if granted approval, Illinois online casino games. The deal also stipulates that Golden Nugget will provide a mezzanine loan of $30M to Danville Development for the construction and development of the Danville casino.

The market access agreement is valid for a term of 20 years. It has a provision that requires Golden Nugget to pay Danville Development a percentage of its online sports betting and Illinois online casino revenues, subject to minimum royalty payments over the term.

Golden Nugget Expansion

Wilmot Gaming Illinois is a subsidiary of the New York-based Wilmorite Management Group. Earlier this year, the company was chosen as the preferred developer of the proposed casino in Danville. The Danville casino project was one of the six approved casinos in 2019 by Gov. J.B. Pritzker.

The Illinois casino and sports betting project is an important part of Golden Nugget’s expansion strategy. Golden Nugget became one of the latest U.S. digital gambling company to announce a SPAC merger to grow its business. It is set to merge with special purpose acquisition company Lancadia Holdings II and go public on NASDAQ to avoid the more complex IPO route.

About Golden Nugget

Golden Nugget LLC is wholly owned by Tillman Fertitta through subsidiaries and affiliate companies. It operates five Golden Nugget Hotel and Casino properties in Las Vegas, Laughlin, Atlantic City, Biloxi, and Lake Charles. Landry’s is a subsidiary of Golden Nugget and operates high-end and casual dining properties nationwide.

On the other hand, Wilmorite’s casino development portfolio include First Council Casino in Oklahoma, Harrah’s Northern California, and Del Lago Casino, New York.

Illinois Casinos Ordered To Shut Down Again Beginning Friday

Casino Chips and a Deck of Cards

Illinois Gov. J.B. Pritzker announced in a news conference on Tuesday the complete shutdown of Illinois casinos. The decision comes in the wake of a surge in the COVID-19 virus cases during the past week.

Said Pritzker during the briefing:

“The simple fact is that COVID-19 is spreading quickly and widely. Our hospitals are beginning to experience real strain, and at the current infection rate they will be overwhelmed.”

Pritzker added that the effort would “pause a number of indoor activities where science shows us this virus can can easily spread.” He hopes that the measures will help bend the state’s current coronavirus curve without having to enforce a stay-at-home order for its constituents.

The shutdown follows the actions of Michigan after Governor Gretchen Whitmer ordered the state’s three commercial casinos closed for three weeks beginning Tuesday to curb the spread of the pandemic. Unlike Michigan’s shutdown, Pritzker didn’t give a timetable as to when the Illinois casinos can reopen. Illinois was one of the first states to shut down its casinos at the height of the pandemic last March Illinois casinos were forced closed on March 15, 2020 and were allowed to reopen on July 1st.

Tier 3 Mitigations

Pritzker’s move puts the state into what he termed as Tier 3 mitigations beginning 12:01 am on Friday. Under the new shutdown, retail establishments are ordered to drop to 25% capacity while groceries and pharmacies are limited to 50% capacity. Gyms car stay open at 25% capacity if masks are worn at all times and locker rooms are closed.

On the other hand, museums, theaters, and Illinois casinos will be completely closed. Impacted by the order are Caesars Entertainment and Penn National Gaming who each have three casinos in the state, Rush Street Gaming and Boy Gaming who each have one Illinois casino, DraftKings which has licensed its name to Casino Queen, and Jumer’s which is in the process of beng sold to Bally’s Corp.

Rise in COVID-19 cases

State Health Officials reported 12,601 probable and new cases of COVID-19 on Tuesday. That was the 12th straight day where the state had more than 10,000 cases During the past week, Illinois has averaged 12,381 COVID-19 cases per day. Overall, the state has accumulated a total of 597,849 cases since the pandemic began.

97 deaths were also reported on Tuesday, bringing the statewide total to 10,875. Over the past week, Illinois has been averaging 84 deaths per day which is the highest weekly average since June 2nd. During the height of the pandemic, the average deaths per day in the state was 100 deaths per day.

FanDuel Announces Multi-Milion Dollar Investment in Fairmount Park

Image of Horse Racers and Sportsbook Background
FanDuel Group, one of the top gaming companies in the United States, announced on Monday a partnership with Collinsville’s Fairmount Park.

Under the agreement, Fairmount Park will be rebranded and renamed as FanDuel Sportsbook and Horse Racing. In exchange, FanDuel will make a multi-million dollar investment to revitalize the venue while opening a retail FanDuel sportsbook in the property. Fairmount Park’s signature race, the $250,000 St. Louis Derby, will also be revived by FanDuel and TVG. The race has not been held since 20006 due to financial constraints.

Said Matt King, Chief Executive Officer of the FanDuel Group:

“We are delighted to partner with Fairmount Park to continue bringing high quality horse racing and soon additional entertainment experiences via our sportsbook to the region.Fairmount is an iconic state landmark which we plan to modernize bringing innovative technology and entertainment offerings only FanDuel can deliver.”

The Only Active Horse Racing Venue Outside Metro Chicago

Fairmount Park is one of the three active horse racing venues in Illinois and the only one outside of the Chicago metro area. The one-mile dirt oval track opened in 1925 and was the home of the St. Louis Derby which was last run in 2006. It has been approved to host a total of 53 live racing days in 2021 along with daily simulcast wagering on tracks throughout the country.

The Collinsville, Illinois track also has a pending application for a casino license. Last month, it was given a “preliminary suitable” status to add casino games. If its Racino license is approved, an investment of $50M is expected to be shelled out so that Fairmount Park can offer up to a combined 900 slot machines and table games.

No Stranger To Horse Racing

While the Fairmount Park deal is its first investment in a race track, FanDuel is no stranger to horse racing. Through the TVG brand, it broadcasts 60,000 horse races from more than 150 track via its two channels TVG and TVG2. TVG also simulcasts major horse racing events during the year with its resource-sharing pact with NBC Sports, NBC SN, and NBC regional sports networks.

It is also a major sponsor of marquee horse racing events like the Breeders Cup World Championships, TVG Pacific Classic, TVG.com Haskill Invitational, and other races at Keeneland Racecourse in Lexington. It has also made an impact by introducing the FanDuel Horseracing Product and daily fantasy contests to marquee events. It recently launched and advanced deposit wagering (ADW) platform designed for novice racing fans.

Fairmount Park Gets Approval For Illinois Sports Betting License

Odds Board and Money
Fairmount Park’s applications for an Illinois sports betting license was approved 4-0 by the Illinois Gaming Board during a special meeting held on Thursday morning. During the meeting, Fairmount Park was also given “preliminary suitable” status to accept casino games.

With its approval, Fairmount Park becomes the 9th applicant granted a Master Sports Wagering License by the Illinois Gaming Board since June. The approved license is valid for four years. Fairmount Park’s sports betting provider will be FanDuel and it applied for the license as FanDuel Sportsbook and Horse Racing.

First Sportsbook at Multiple Retail Venues

FanDuel has been live in Lincoln State since since August 28th when it launched its sports betting app through a partnership with Boyd Gaming’s Par-A-Dice-Casino in East Peoria. That consortium started accepting legal Illinois sports betting transactions last September 10th.

But while FanDuel is the first Illinois sports betting company to operate in multiple venues, it won’t be the last. PointsBet, who has a partnership with Hawthorne Race Course, is planning to open three Chicago suburban off-track betting sites in the near future while DraftKings, a partner of Casino Queen, is expected to open a sportsbook at Wrigley Field in partnership with the Chicago Cubs.

Gaming Expansion Bill

Horse racing tracks were allowed to apply for casino and sports betting licenses as part of the gaming expansion bill signed into a law by Gov. J.B. Pritzker in June 2019. FanDuel had been in talks with Fairmount as early as February as a workaround to the 18-month waiting period from the issuance of the first sports betting license to when the Illinois Gaming Board can accept an online-only application.

With its approval, Fairmount Park thus joins Hawthorne Race Course as the only race tracks in the state permitted to conduct sports betting activities and given “preliminary suitable” status to add casino games. Arlington International Racecourse, the third race track in the state, did not apply for an Illinois sports betting or a racino license.

If its Racino application is approved, Fairmount Park stands to offer up to 900 gaming positions at slot machines and table games. The total cost of the expansion has been estimated at $50M. There is no timetable yet for the expansion as it is dependent on how fast the approval process goes.

Could a Temporary Casino in Chicago Open Next Year?

For more than a year, lawmakers in Illinois have been coming up with plans to open a new casino in the city of Chicago. It’s been a difficult process, yet things finally seem to be moving along. This week, several experts involved with the process presented plans to open a temporary casino in Chicago.Chicago City Skyline

It’s a unique idea, and one that Mayor Lori Lightfoot seems interested in. There’s still a long way to go before this new gaming venue can open, though. Today, we’re going to talk about when and where this casino could open its doors.

Let’s get into it!

Lori Lightfoot Continues Pushing for Chicago’s Casino Plans

Illinois won’t typically come up when thinking of major US gambling destinations. Based on the way things are going, however, that could change over the next few months. In 2019, Governor Pritzker approved a new capital plan that allows for several new casinos to open around the state.

There are several cities that have already gained approval to host one of these new casinos. To the surprise of everyone, lawmakers also approved a measure to allow a casino in Chicago. It’s set to be the first casino ever opened in this city.

Initially, lawmakers planned to set extremely high tax rates on this casino. This kept any casino companies from expressing an interest in operating this casino. Eventually, lawmakers decided to lower this tax rate to make things more appealing for these companies.

Location also became an issue. Officials within Chicago looked at several different areas for this new gambling property. Even today, it’s not entirely clear where the new casino will be located, although a few possibilities have been established.

Late last month, Mayor Lightfoot invited several major casino operators to discuss how they would run this new gambling venue. The mayor and her team wanted to hear more about how this property would operate from different companies. Analysts felt this would help these officials with the casino licensing procedure.

This week, several experts presented the idea to open a temporary gambling venue in this city. It appears that city leaders are interested in this idea.

Plans to Open a Temporary Casino in Chicago Are Being Presented

Many were interested to hear Lightfoot asking for plans to run the new Chicago casino. It’s clear that the mayor believes this gaming venue will benefit the city. Companies around the country have been offering their plans to run this casino.

Lightfoot also asked these company leaders to offer information on whether or not a temporary casino in Chicago would make sense. It seems that many feel this is now a good idea. One location is now already being considered for this venue, as well.

It’s now clear that this casino will open in the Downtown Chicago area. One group now believes that the Lakeside Center is the perfect place for this casino. It’s located near the water and some claim it was initially constructed with a casino in mind.

No one has confirmed this will be the location of this property. Lightfoot has not confirmed that this temporary casino will even open. If it does, however, many believe that the Lakeside Center is the perfect place for it to open.

Analysts predict that the new casino in Chicago will generate an incredible $6.6 billion in annual revenue. Unsurprisingly, city and state leaders want to get this venue open as soon as possible. We’ll need to wait and see if the Lakeside Center ends up being the location of the temporary casino.

Sports Betting Revenue Continues to Increase in Illinois

Back in May of 2018, the Supreme Court made history by striking down PASPA. It was a monumental decision and gave every state around the country the ability to legalize sports betting. Today, 24 states have legal sports betting bills approved.

Illinois officially made sports betting legal in March of 2020. Both land-based and online sports wagering is allowed here. As the months go on, revenue from this industry has been gradually increasing.

Soon, a new sportsbook will open its doors at Wrigley Field. It’s one of the first sportsbooks to open inside a major US professional sports arena. It’s clear that the state’s government officials are embracing this industry.

Sports gambling is growing more popular around the world. Many states are now looking into the possibility of opening sportsbooks inside their stadiums. We’re likely to hear more about this situation over the next few months.

Illinois is slowly becoming a major gambling destination. If everything goes according to plan, we could see a temporary casino in Chicago sometime next year. The real casino here may open its doors a year later.

Do you think a temporary casino makes sense for the city of Chicago? Where do you think it should be located? Let us know in the comments section below!

Lori Lightfoot Wants More Information On the New Casino in Chicago

A little over a year ago, lawmakers in Illinois approved a new measure to allow several more casinos to open around the state. One of these casinos will open in the city of Chicago. This week, Mayor Lori Lightfoot began asking potential developers for more information on the new casino in Chicago.Chicago Mayor Lori Lightfoot

It’s been a long road trying to get this new casino up and running. That’s particularly true now that the global pandemic has shut down casinos around the country. Today, we’ll look at what this new move from Lightfoot means for the Chicago casino.

Chicago Casino Continues to Face Delays Opening

Over the years, Illinois has grown to become a popular casino destination. Lawmakers began taking a closer look at how much revenue was being earned at the gaming venues here. Many called for an expansion and looked at which cities would be willing to host new casinos.

In June of 2019, Illinois Governor JB Pritzker officially signed a new capital plan that allows for six new casinos to open around the state. Hope is that the revenue earned from these venues can go towards many of the state’s upcoming infrastructure projects.

One of the most interesting points of this new plan was opening a new casino in Chicago. This would become the first legal Class III gambling venue to ever open in “The Windy City.” It quickly became clear that doing so would be difficult, though.

Illinois set an unusually high tax rate on this proposed casino that kept potential operators away. Most felt it would be impossible to make a profit. Eventually, lawmakers agreed to lower this tax rate to better cater towards casino companies.

Location also became an issue. Several different areas were looked at to host the new casino in Chicago. None were overly appealing to potential operators of the casino. It’s still not entirely clear where this property will be located.

City officials are interested in finding out which companies want to run this casino. Lori Lightfoot is now inviting potential developers to speak about their plans.

Developers Are Invited to Speak About the New Casino in Chicago

State leaders are eager to get Chicago’s new casino up and running. Illinois, like many other states, is desperate for money right now. Additional revenue from the casino industry will be hugely beneficial.

This casino can’t be rushed, though. Officials still need to know how exactly different companies plan to run this exciting new venue. This week, Chicago Mayor Lori Lightfoot invited potential casino developers to speak about how they plan to run the new casino in Chicago.

Lightfoot released an official statement confirming the push to open this casino.

“After securing favorable legislation that had eluded us for decades, Chicago can finally pursue a once in a generation opportunity to bring a casino to our city, generating hundreds of millions in new gaming revenues to shore up the City’s pension obligations and drive huge levels of infrastructure funding in Illinois as well as creating thousands of new and much needed jobs for local residents,” she said. “This is the right time to begin having these discussions as we continue to lay the foundation to make a strong recovery from the impacts of the COVID-19 pandemic.”

Lightfoot is asking these developers nine different questions related to how they will run this property. That includes questions on how big the casino will be, and what amenities it will include. The mayor and other city officials will then have a better idea as to which company should operate the new casino in Chicago.

Another main focus will be on where this casino should be located. Lightfoot hopes that the invited developers will have some helpful ideas. We’ll continue offering updates on this meeting over the next few weeks!

What’s Going On With Illinois’ Sports Betting Industry?

In May of 2018, the US Supreme Court officially removed PASPA, a set of laws that prohibited sports betting in all states aside from Nevada. Doing so immediately gave every state the ability to legalize this form of gambling. Now, more than two years later, 18 states now have legal sports betting options available. Several more will launch these options soon.

Illinois officially launched its sports betting industry on March 9th of 2020. Both online and land-based betting is available. Eventually, in-person sports betting will even become available inside the state’s many sporting arenas.

The timing for this launch certainly wasn’t ideal. In March, nearly every major sports league around the world shut down. It wasn’t until May that sports slowly began to come back. As a result, revenue earned from this industry is very low.

Things are improving, though. Governor Pritzker recently revoked a measure that required bettors to register in-person before placing bets online. Experts feel this will increase monthly revenue by millions of dollars.

Nearly every state around the country has looked into the regulation of this industry. Many are protifing massively already. In time, almost all states will have some form of regulated sports gambling options available.

Are you excited to see the new casino in Chicago constructed? Where do you think it should be located? Let us know in the comments section below!

Wilmorite To Build Casino In Danville

Illinois
Wilmorite Management Group secured an approval from the Danville City Council last Tuesday night to build and operate a casino the Central Illinois town near the Indiana state line.

The approval came after a presentation made by Danville Development LLC, an Illinois registered company owned by the Wilmot family which owns and operates the Wilmorite Management Group in Rochester, New York.

Location Has Been Selected

During the presentation, Wilmorite vice president of gaming Jimmy Wilmot said that they have chosen 204 Eastgate Drive as the location for their casino. The area is the former Morris Flamingo site. The building is owned by Shaheen and Co. and it was once targeted for a cannabis cultivation center.

The site is on the north side of Interstate 74 and west side of Lynch Road. Wilmorite has committed to spend $600,000 to help the city address the sewer capacity issues that are on the north side of the interstate along that corridor.

The former Morris Flamingo site was a distribution site and warehouse. It has a total area of 110,643 square feet on 11.5 acres. The proposal is for Wimorite to build a new connection between Eastgate Drive and Lynch Road at the front of the parcel.

Phase 1 Expected To Start in Fall of 2021

The proposed casino would have a gaming floor of around 17,000 square feet. The plan also included the construction of a steak house, food court and a parking space with a capacity of over 500 vehicles. The group is also eyeing a 15,000 square foot Phase 2 expansion and a Phase 3 renovation that will include a 100-room hotel, additional restaurants, and a conference center.

The first phase of construction is expected to begin in the fall of 2021 and would be completed before the end of the year. The initial phase includes 500 slot machines and a total of 10 gaming tables including one for craps. Overall, the entire project is estimated to be completed in six years.

According to Wilmorite, they will spend around $30M when they break ground and $100M by the time they open their casino doors for the first time. Upon the approval of its license by the Illionis Gaming Board, Wilmorite will give $3M to the city who will use the amount for its riverside development project, the Boys and Girls Club, and other projects within the city.