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.
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!