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.

IGT Inks Sports Betting Pact With Boyd Gaming Corp.

IGT

International Game Technology PLC announced on Wednesday that it has inked a sports betting technology deal with casino operator Boyd Gaming Corp.

Under the agreement, IGT will cover the equipment for Boyd Gaming’s retail sportsbooks in the state of Nevada and the technology for the mobile app ans sports betting site of the casino operator. For its part, Boyd has agreed to deploy IGT’s PlaySports self-service betting kiosks throughout its Las Vegas-based casinos. Both companies have agreed to a phased rollout for the services and features covered in this long-term agreement.

Said IGT PlayDigital Senior Vice President Enrico Drago:

“IGT and Boyd Gaming will create a dynamic omnichannel sports betting product that is sure to stand apart in Nevada, the most mature and high-volume sports betting destination in the U.S. IGT’s PlaySports platform enables Boyd Gaming to differentiate its sports betting product in meaningful ways that position them to attract new players and grow revenue in the segment.”

Not their First Partnership

Aside from offering Boyd’s clients with a more progressive sports betting platform, the PlaySports agreement will allow the US. casino operator to have an improved back office navigation, and the ability to update its app in line with real-time data and betting trends. Likewise, players will enjoy new features on the app as well as a wider variety of bets.

This isn’t the first time that Boyd Gaming and IGT have partnered. Since 2018, PlaySports has been powering Boyd Gaming’s sports betting facilities in its gaming properties in Iowa, Indiana, Mississippi, and Pennsylvania.

Boyd Casino operates a total of 29 casinos in 10 different states. When it comes to Nevada, three of its three Las Vegas casinos remain closed since they were ordered by the government last March to shut down operations as part of the health and safety measures during the coronavirus pandemic. Earlier this week, one of those Casinos–Eldorado, was granted approval by the Henderson City Council to make its gaming and liquor license non-operational until 2021.

IGT and FanDuel

Boyd Gaming’s regional casinos have a sports betting partnership with FanDuel. The latter runs the sportsbook in seven of Boyd’s regional casinos and mobile sports betting apps in Pennsylvania and Indiana. They are expected to launch a digital sports betting app at Boyd’s Par-A-Dice Casino in Illinois. 

Earlier this month, IGT and FanDuel extended their U.S. partnership through 2024. Through this agreement, FanDuel sportsbooks in eight states will utilize the IGT platform. Meanwhile, FanDuel will offer IGT’s online casino games in Pennsylvania and New Jersey where the former currently operates.

IGT is a global leader in gaming solutions including gaming machines, lotteries, sports betting and digital. It has established relationships with governments and regulators in over 100 countries worldwide. 

Here’s a Look at the Hawthorne Race Track’s New Casino

The state of Illinois has been working hard to expand its gambling industry. Lawmakers here feel that increasing the regulated gambling platforms here will help bring the state valuable revenue. We’re now beginning to hear more about the Hawthorne Race Track’s new casino, set to be the first “racino” in Illinois.Hawthorne Race Track

Many are excited to see this gambling venue open up. Hawthorne Race Track is one of the most historic horse racing arenas in the state. Today, we’re going to talk about what the track’s new casino will have to offer.

Let’s get into it!

Looking Back at Illinois’ Gambling Expansion Plans

2020 has been a tough year for the US land-based casino industry. Casino companies across the country are seeing their revenue earnings drop. Just a year ago, however, this industry was thriving and many states were focusing on increasing their number of casinos.

That certainly applies to Illinois. Back in mid-2019, lawmakers here approved a new capital plan that allows for many new casinos to be built around the state. This bill even approves a new casino to be constructed in the city of Chicago.

The global pandemic has delayed some of the state’s gambling expansion plans. Hope was that construction on some of these new casinos would be underway by now. Unfortunately, that is not the case.

In March of 2020, Governor Pritzker officially signed a new bill to legalize and regulate sports betting. Under the new laws, both in-person and online sports betting will become legal here. To the enjoyment of many sports fans, betting options will even become available inside major sporting venues such as Wrigley Field.

Several new casinos will begin opening up in Illinois over the next few years. Obviously, gambling fans here are excited about this news. News is just coming out that one of the most historic race tracks in the state is set to open a new casino, as well.

More Details On the Hawthorne Race Track’s New Casino Are Coming Out!

As we already mentioned, Illinois recently approved a new measure to allow new casinos to open throughout the state. Some of these casinos will be standalone gambling venues. Others will open inside race tracks.

Today, the Illinois Gaming Board officially approved the Hawthorne Race Track’s new casino plans. The owners of the state’s oldest horse race track have been pushing to open a casino for years. They believe adding more gambling options will help to bring in more players from Illinois and other nearby states.

Dakota Schultz, the Director of Communications at the Hawthorne Race Course, expressed his excitement about this news to the media this week.

“We’ll have a full blown casino- I mean it’s slots, it’s table games, we’ll have dining amenities featuring some of Chicago’s, you know, well known culinary brands. Plus racing which no other casino has. So, we’re really excited for the first racing casino,” Schultz said. 

That’s not the only good news for this track. Hawthorne also gained approval from the Gaming Board to begin offering sports betting options, as well.

The current plan is for the track’s casino to open within a year and a half. Sports betting options should become available here in time for football season. We’ll continue offering updates on this new casino over the next few months!

What’s Happening With the Chicago Casino?

There’s been a tremendous amount of media attention surrounding the new casino in Chicago. It’s set to be the first major gambling venue ever built in the city. For more than a year, lawmakers have been trying to find a suitable company to operate this casino.

Most casino companies were staying away. For reasons unknown, Illinois set extremely high tax rates on this casino. Under the initial plans, it would have been almost impossible for any companies to profit off their gambling venue.

About a month ago, Governor Pritzker approved a measure to lower the tax rate for the Chicago casino. Mayor Lori Lightfoot is certainly eager to get this venue constructed. She’s come up with five potential locations for this new gaming venue.

It’s still unclear which company will take control of this proposed casino. With the tax rates now lowered, this is starting to look like a much more appealing project.

We now have confirmation that the Hawthorne Race Track’s new casino is on its way. Based on what’s being said, this may become one of the most popular new gambling venues in the state.

Are you excited to see more casinos opening in Illinois? When do you expect the Chicago casino to open? Let us know in the comments section below!

Illinois Casino Update: Gaming Board Approves Plans to Reopen on July 1st

As of June 26th, Illinois has the fourth-most cases of Covid-19 in the country. It shouldn’t come as a huge surprise to find that this state has been extremely hesitant to reopen venues that draw in large crowds. According to a new Illinois casino update from the state’s Gaming Board, however, gambling venues here will be able to reopen on July 1st.Illinois Gambling

It’s fantastic news for the casino companies here. Illinois has been working hard to expand its gambling regulations over the past couple of years. Today, we’re going to look at what state leaders currently have planned for this summer.

Let’s get into it!

Illinois’ Plans to Expand Casino Industry Come to a Halt

Over the past decade, a huge number of states have begun working to expand their current gambling industries. More state leaders seem to recognize the fact that casinos can bring in a huge amount of revenue from taxes. That is certainly the case in Illinois.

As many are aware, Illinois has been working hard to come up with new money-generating strategies. In June of 2019, lawmakers here approved a new Capital Plan that allows for several new casinos to open throughout the state. That includes one in Chicago.

It was great news for gambling fans here. Unfortunately, it’s been a difficult process trying to find a company willing to operate this Chicago casino. Much of that is due to the state’s high tax rate set on this venue.

State officials finally decided to lower this tax rate. Even after doing so, there aren’t many companies jumping at the opportunity to take control of the proposed Chicago casino. As the global pandemic began to spread around the world, the state’s casino plans came to a screeching halt.

Since March, all of the casinos currently operating here were forced to close down. The owners of these venues have been working to come up with reopening plans ever since. It now appears that officials are content with these plans.

Gaming Board Offers Exciting Illinois Casino Update

The past few months have been extremely difficult for the state of Illinois. Rates of Covid-19 have begun to drop here, yet many businesses remain closed down.

Many states around the country have slowly begun to reopen their gaming venues. That includes Nevada, which is slowly bringing Las Vegas back to life. Up until recently, no one really knew when Illinois would decide to revitalize its gaming industry.

We now have an answer. This week, members of the state Gaming Board offered an exciting new Illinois casino update. Casinos and video gaming operators can officially begin operating again at limited capacity on July 1st.

The regulations being set in place here are very similar to the ones seen in other states. That includes strict social distancing measures, stringent hand sanitization, and casinos must operate at no more than 50% capacity. If infection rates continue to drop in this state, some of these restrictions may gradually be lifted.

It comes at an important time for casino companies around the country. Many have lost an incredible amount of revenue over the past three months. Some may even be on the brink of collapse.

As infections begin to rise in certain states, it seems likely that we’ll begin to see casinos close down once again.

More Casinos Are Likely to Shut Down Soon

The land-based casino industry has been hit incredibly hard due to the spread of the novel coronavirus. For months, all brick-and-mortar gambling venues in the state were shut down. Certain states have begun to reopen these properties over the past few weeks.

In some parts of the country, it appears this may have been done a little soon. Arizona, for example, immediately saw its infection rates surge after lifting restrictions. As a result, the state ordered three major casinos here to shut down once again.

Florida has just shattered its own infection record. Over the past 24 hours, more than 9,000 new cases of Covid-19 were recorded here. Most predict that state leaders will call for all casinos to temporarily close.

Infection rates are slowly beginning to creep up in Nevada, as well. As a result, Governor Sisolak announced that wearing masks in public places, including casinos, is now required. Some worry this will damage the state’s already-hurting tourism industry.

The Illinois casino update is exciting for several reasons. Of course, state leaders may be forced to rethink this strategy if it’s proven that casinos contribute to a significant rise in new infections. Make sure to stay tuned for updates on the situation over the next few months.

Do you think it’s time for the casinos in Illinois to reopen? Will this happen on the proposed date of July 1st? Let us know in the comments section below.

Lori Lightfoot Offers an Update on Chicago’s Casino Plans

As June approaches, the US casino industry is slowly getting back on track. More gambling venues are starting to open their doors and revenue is starting to flow in. This week, Mayor Lori Lightfoot offered an update on Chicago’s casino plans.

Lori Lightfoot At Press Conference

Chicago remains one of the worst-hit cities in the United States from the coronavirus. Things have been very slow to open up here. Today, we’re going to discuss when we might see the first casino in Chicago open its doors.

Illinois’ Expanded Casino Plans Are Put On Hold

Illinois isn’t typically thought of as a US gambling hub. Over the past few years, however, lawmakers in this state have begun to see the potential in this industry. Back in June of 2019, state officials approved a new Capital Plan that allows for five new casinos to open up.

That includes a new casino in Chicago. Many politicians here believe that opening a casino in this city will help to boost tourism and bring in a huge amount of revenue. Unfortunately, high tax rates have made it difficult to find a company willing to operate a gambling venue here.

These plans are now being put on hold. As the global pandemic hit, officials in Illinois decided to delay construction on these venues. It’s still not entirely clear where in Chicago this new casino will be constructed.

Not all forms of gambling are completely shut down here, though. In March, lawmakers officially legalized sports betting. Both online and land-based sports wagering options are now available in the state.

Things seem to be improving around the country. As we already mentioned, many states are already opening up their casino industries. This week, the Mayor of Chicago talked more about opening the proposed casino in Chicago.

Mayor Lightfoot Gives An Update On Chicago’s Casino Plans

Many were excited to hear that a casino was being planned for Chicago. Illinois is known for having a large gambling fan base. Despite the trouble finding a company to run this new gaming venue, most felt it would be highly successful.

Mayor Lori Lightfoot recently spoke about building this new casino. She feels that it should become part of a much larger “entertainment complex” built within the city.

“I see this as a large entertainment district — not just the box of a casino. In order for us to maximize this once-in-a-generation opportunity that the General Assembly has given us and to maximize the opportunity for revenue, for jobs, for long-term economic viability of the city and, of course, to address our pension debt, we‘ve got to be thoughtful and intentional about what we’re designing so it’s something that attracts people from all over the world,” she said.  

Lightfoot went further, claiming that she and many other city officials want to see progress made.

“That’s what I see. Chicago is a global city. We need a world-class entertainment district, of which a casino is a part, but not the entirety. So there’s a lot of work that needs to be done between now and then and we’re anxious to get started.”

It was exciting to hear this update on Chicago’s casino plans. Unfortunately, Lightfoot is still unwilling to reveal where this gaming venue will open its doors. We’re likely to hear more about the opening of this casino over the next few weeks.

Nearby States Begin Looking to Reopen Casinos

It’s not entirely clear when the casinos in Illinois will open back up to the public. Covid-19 infection rates remain high in this state. Many lawmakers are beginning to take a closer look at getting the state’s gaming industry running again, though.

Some nearby states have recently announced they plan to reopen their casinos. That includes Missouri. This week, state leaders announced that two casinos in the St. Louis area are scheduled to open up this weekend.

Until Illinois’ casinos open, many gambling fans in this area are likely to play inside these Missouri gaming venues.

Incredibly, the casinos in Las Vegas are scheduled to open up next week. It was a long and difficult road to get these plans approved. Governor Sisolak seems content with the safety measures set in place and is allowing several major casino-resorts to open their doors on June 4th.

Lori Lightfoot has just offered an update on Chicago’s casino plans. She wants to see an entire entertainment center built in this city. When and where this casino-resort will be constructed is still unknown.

Are you excited to see a casino built in Chicago? When do you expect this to happen? Let us know in the comments section below.

All Illinois Casinos Close Due to Coronavirus Concerns

For months, lawmakers in Illinois have been working to expand the state’s gambling industry. This includes opening several new casinos in different areas of the state. Unfortunately, all Illinois casinos are closing due to concerns about the rapidly-spreading coronavirus.Illinois Symbol

This isn’t a total surprise. Many states may soon begin implementing similar measures. Today, we’re going to discuss the current plans and look at how this may affect the state’s gambling industry in the long run.

Let’s get into it!

Illinois’ Plans to Expand its Gambling Industry

Gambling has taken place in Illinois for over a century. For a time, however, lawmakers in the state worked to ban many traditional forms of gambling. Laws were eventually changed and the state began allowing casinos to open up in 1991.

Today, there are 10 different casinos here. Some are more popular than others, yet they all help to bring the state valuable revenue. Back in June, lawmakers announced they were planning to expand the state’s gambling industry.

That month, state officials approved a new capital plan that allows for six new casinos to open. The goal of this plan is to earn more revenue from the gaming industry. It even allows for one major casino-resort to open in Chicago.

Opening a casino in Chicago has proven to be more difficult than many expected, though. Lawmakers set an unusually high tax rate on this proposed gambling venue. As a result, no companies are bidding to operate the Chicago casino.

Hope was that some of the first new casinos would begin operating sometime this year. Based on the way things are moving, that may no longer be the case.

State Officials Announce that Illinois Casinos Are Set to Close

It’s clear that Illinois is beginning to truly embrace its gaming market. It was beginning to look like this may become one of the country’s next major gambling hubs. Unfortunately, the coronavirus is forcing all casinos here to close their doors.

Covid-19, the coronavirus originally found in Wuhan, has now spread to more than 125 countries and has infected at least 150,000 individuals. Most believe that the true number is considerably higher. Many more cases are beginning to appear in the United States, despite heavy quarantine efforts.

All Illinois casinos will be forced to close down on Monday for a period of 14 days. The Illinois Gaming Board released a statement on the situation to the media this week.

“The public health of patrons, casino employees, IGB staff, and others is of paramount importance,” the statement said. “The board is continuously monitoring developments and will update licensees and the public as frequently as possible.”

Whether or not this casino closure will be extended after 14 days is not entirely known. The decision will largely depend on whether or not more cases continue to appear in the state.

Sports Betting Options in Illinois Also Delayed

It’s tough to see Illinois casinos forced to close their doors. This will have a serious effect on their revenue earnings for the year. It’s also disappointing for sports fans, as the state’s first sportsbooks have just opened up.

This decision makes sense, though. Casinos are easy places for a virus to spread. A casino in Oregon was recently forced to close its doors due to an employee testing positive for Covid-19.

Illinois’ sportsbooks were expected to bring the state a huge amount of revenue. The state is known for having one of the most passionate sporting fan bases in the country. Due to the casinos closing, the ability to bet on sports here will now be delayed once again.

Of course, online sports betting was made legal in Illinois, as well. As of now, however, no state-regulated sports betting sites have begun operating here. Perhaps this will change over the next few weeks.

The coronavirus is already having a serious impact on the US gambling industry. It’s reasonable to assume that more casinos will eventually be forced to shut down. Stay tuned for updates over the next few months!

Sports Betting Options in Illinois Are About to Launch

For months, lawmakers in Illinois have been working to expand the state’s gambling industry. New casino and sports betting options in Illinois are becoming available. According to new reports, this state’s first sportsbooks are set to launch this month.Flag Of Illinois

It’s exciting news for sports fans here. Today, we’re going to look at what new gambling options are coming here. We’ll also discuss when Illinois’ sportsbooks will finally launch.

Let’s get into it!

Illinois Lawmakers Push For Gambling Expansion

A huge number of states around the country are currently working to expand their gambling industries. Much of this process began after the Supreme Court decided to remove PASPA. Doing so gave every state the ability to set its own laws on sports gambling.

This led to many states changing their set of gambling laws. Lawmakers began to realize how much money could be earned from this industry. Within just months of PASPA being removed, New Jersey and Delaware already had their sports betting options up and running.

States began looking into new casino regulations, as well. This includes Illinois. Back in June, officials in this state presented a new capital plan that allows for five new casinos to open up.

This includes a casino in Chicago. Officials immediately began looking at sites for this new venue. Unfortunately, the tax structure set for the Chicago casino was unusually high and kept many companies from wanting to enter into this city.

Within the next few years, several new casinos will officially begin operating in this city. Now, reports indicate that sports betting options in Illinois are set to launch in the coming days.

Sports Betting Options in Illinois Will Become Available For March Madness

The NCAA Men’s Basketball Tournament, also known as March Madness, is one of the most-watched sporting events in the country. It draws in millions of spectators to watch the top collegiate teams compete for the championship. Unsurprisingly, it’s also one of the sporting events that draws in a huge number of bets.

It seems like officials in Illinois want to take a piece of the revenue that will be wagered on the tournament. According to the Chicago Tribune, the first sports betting options in Illinois will officially become available in time for March Madness. The Illinois Gaming Board approved a sportsbook to open at Rivers Casino on Monday.

Dan Nita, regional president of Caesars Entertainment, parent of an Illinois casino called Horseshoe Hammond, spoke about how this may affect the state’s gambling industry.

“Obviously, just from a pure supply and demand standpoint, that will definitely have some degree of impact in guests having more choices,” he said.

Illinois will officially become the 15th state to have live, regulated sports betting. We’ll need to wait and see how successful the industry is here.

Chicago Casino is Still at a Standstill

Illinois has gradually become a popular gambling destination. There are many casinos spread around the state, many of which offer a huge range of different games. Under the new capital plan, five new casinos will open in different parts of the state.

As we already mentioned, a casino-resort will open in Chicago. At first, many predicted this would be one of the most successful gambling venues in the midwest. Unfortunately, lawmakers have set unusually high tax rates for the casino, forcing many gambling operators to turn their heads away.

Mayor Lori Lightfoot continues to push for this casino to open. She believes it will help to bring the city and state valuable revenue. Unfortunately, this property remains at a standstill.

In other parts of the state, casino plans are coming together. It’s beginning to look like Rockford and Waukegan will soon welcome new properties.

Sports betting options in Illinois are launching in just a few days. It will be interesting to see the state’s gambling industry expand as a result. Make sure to stay tuned for updates over the next couple of months!

Mayor Lightfoot Continues Pushing for Chicago Casino in Springfield

Illinois State Flag, Casino Slot Machine
On Tuesday, Illinois Mayor Lori Lightfoot, a major proponent for Chicago getting its own casino, met with legislators in Springfield in a play to push progress forward in making the casino dream a reality for the city.

While Lightfoot’s November pitch for locking down what she believes would be an incredible revenue source for the state went amiss, Tuesday’s meeting seemed much more promising. Lightfoot said great conversations were had and she believes steps were made in the direction for a casino being built in the Windy City.

Lightfoot has been working hard to recruit the right players needed to further her Casino cause. Last year, she even took it up to the Capitol to rally up more support. Unfortunately, she wasn’t able to get the additional support she was looking for, with some lawmakers even requesting a slice of the Chicago casino revenue pie for their districts.

Capitol lawmakers cited their concerns of regionalism, and why they should even help Chicago in this pursuit. Eventually though, the lawmakers came to an agreement and decided to support Lightfoot’s plan.

“We’re going to do everything we can to make sure that the support that was there is solid and that we get the additional votes that we need to get it over,” Lightfoot said.

Issues with a Chicago Casino

The major concern surrounding a casino being built in Chicago is the tax structure for possible developers. The tax structure came into light after a state-commissioned study called the taxes too burdensome for any real profit to be turned.

The state’s Commission on Government Forecasting and Accountability released a report earlier this month that found that the revenue from state’s 10 existing casinos, and the generated tax dollars made from them, have been on a consecutive seven-year decline.

The report begs the question of a Chicago casino being profitable, and raises concern of its necessity in the city.

Tuesday’s Meeting with the Caucus

In Springfield, Lightfoot met with both Republican and Democratic legislators. The four legislative leaders included the Senate Democrats, Republican caucuses, and Chicago democrats from both chambers.

The trip to the Illinois House Republican caucus marks Lightfoot’s second visit since taking office. There, she addressed concerned from legislative leaders and provided the outline of her gaming proposal.

Illinois Senate President Don Harmon, D-Oak Park, said that by Lightfoot speaking to the caucus directly, she’s making a big difference by representing the state from top to bottom.

“It was great to have Mayor Lightfoot in front of our caucus today,” Harmon said. “She made a compelling case for why it’s important for the whole state that we clean up the gaming bill.”

If Approved, Chicago Will be the Largest American City to Have a Casino

Chicago has been pushing for a Las Vegas-style casino for years, in what Lightfoot and other supporters say will indefinitely boost tourism and be the much-needed revenue source the city needs. If state lawmakers give the casino the green light, it will be massive.

A Chicago casino would even be large enough to compete with those on the Las Vegas Strip, as lawmakers approved nearly 4,000 gambling positions, slots or table seats. Famous Las Vegas casinos, such as Caesars Palace and Aria, by contrast, have around 1,500 slots per casino.

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!