Officials Plan to Reveal the Chicago Casino Location in Early 2022

Chicago Casino Site City Background

Getting construction started on the proposed casino in Chicago has been a long and difficult process. Much of the issue has been finding a suitable location for this property. Fortunately, city officials now claim that the Chicago casino location will be revealed early next year.

This is great news for gambling enthusiasts in the state. It’s also exciting for Chicago’s officials who have been pushing hard to move these plans forward for years.

Here’s what you need to know about this situation.

The Chicago Casino Location Will be Revealed in 2022

Illinois is well-known for having the largest gambling industry in the Midwest. A huge number of casinos are spread throughout the state. A large and successful sports betting industry is also set in place here that helps to bring in a huge amount of revenue each month.

Back in 2019, lawmakers approved a Capital Plan that will significantly expand the state’s gambling industry. Most notably, it allows for a new casino to open in Chicago. Getting plans approved to open this property has taken much longer than most expected, though.

Reports surfaced this week claiming the Chicago casino location will be revealed in early 2022. Finding a suitable location has been one of the biggest struggles for those involved in the project. City Chief Financial Officer Jennie Huang Bennett spoke to the media about this process yesterday.

“We’re evaluating all of the proposals,” Huang Bennett said. “All of the proposals that have been provided that we’ve shared some information on qualified proposals. They’re all being treated equally.”

Several possible locations, including McCormick Place Truck Marshaling Yard, are being considered. We’ll be sure to offer updates as soon as the official location is revealed to the public.

Illinois’ Gambling Industry is Starting to Face More Competition

The Midwest has never really been considered much of a US gambling hub. It seems that is starting to change, though. Many of the states in this region of the country have recently begun working to expand their gaming industries.

That includes Illinois. A huge number of casinos and sports betting platforms are currently up and running here. Many will be excited to hear about the Chicago casino location in the first quarter of next year.

Minnesota is another state to recently expand its gambling industry. Many casinos are currently operational here and lawmakers here are now working to legalize sports betting. Several bills have been presented and it seems likely that one will be approved in 2022.

Ohio is also pushing hard to grow its gambling industry. Many Native American-run casinos are already spread around the state. Lawmakers here have also been proposing extensive bills to legalize and regulate sports gambling.

There is no doubt that Illinois is home to the largest gaming industry in the region. It continues to face more competition as the months go on. It will be interesting to see how things evolve here in 2022.

How are the Casinos in Las Vegas Faring Right Now?

States around the country have been rapidly expanding their regulated gambling industries in recent months. There is no doubt that Las Vegas remains the biggest and most profitable gambling hub in the country. It’s here that the most expensive casinos ever built are located.

2021 has proven to be a record-breaking year for Las Vegas. This city has reported consistent revenue surges over the course of the year. The casino companies here have been involved in several major deals as a result of the revenue surges.

MGM Resorts International made headlines earlier this year by purchasing The Cosmopolitan. It will likely help this company generate considerably more revenue in 2022. MGM CEO Bill Hornbuckle is now supporting the legalization of online casino gambling in Nevada, too.

Las Vegas Sands famously sold The Venetian earlier this year. This was done in an attempt to focus more on operations in Macau. This has not proved to be the best decision, as Macau continues to experience low revenue figures due to intense travel restrictions set in place by Mainland China.

All signs point to Las Vegas having another wildly successful year in 2022.

Are you excited to hear about the Chicago casino location? Will this casino be successful? Let us know in the comments section below.

More Information on the Casino Bids in Chicago is Coming Out

Chicago Casino Gambling City Skyline Background

Chicago Mayor Lori Lightfoot continues pushing to get a casino-resort in the Windy City. Recently, five different companies submitted proposals to operate a gambling venue here. Officials are now beginning to review the casino bids in Chicago and are expected to award a gaming license here soon.

A huge amount of hype has surrounded this proposed venue. Many steps still need to be taken before construction on a casino in Chicago can begin, though.

Here’s a look at the latest progress being made to get this casino up and running!

Lori Lightfoot is Now Reviewing the Casino Bids in Chicago

The gambling industry in Illinois continues to expand. Several new properties have been planned to open in this state since 2019. That includes a casino in Chicago. This would be the first real regulated, Class III to ever open in this city.

Getting a casino built in this city has proven extremely difficult. Extremely high tax rates kept any casino companies from expressing any interest in operating this venue. Location then became an issue and officials in the city continue working to find the best location for a casino-resort.

Five casino bids in Chicago have now come in. Mayor Lori Lightfoot is now reviewing each of these casino bids and is expected to make a decision on which company will run a casino here before the end of 2021. Several major casino operators have submitted bids, including Hard Rock International.

It remains to be seen when exactly construction will begin on a casino here. The Illinois Gaming Board will need to give final approval to developers before this can happen. Hope is that groundbreaking on this massive project will take place at some point in 2022.

Just about everyone is excited to see a casino-resort open its doors in Chicago in the future. We’ll be sure to offer more updates on the opening of this venue as the year goes on.

Illinois’ Sports Betting Industry is Still Growing

Illinois is known for having one of the most successful casino industries in the Midwest. It is also home to a massive sporting fan base. Since sports gambling launched here in early 2020, revenue from the state’s regulated sportsbooks has been steadily rising.

Much of the attention has been placed on the rules for online sports betting. Initially, those looking to bet on sports online here need to register in-person to an internet sportsbook. This rule was lifted due to the Covid-19 pandemic, yet was reinstated earlier this year.

A new bill has been presented to permanently remove this rule. This amendment would be a part of HB 3136 to no longer require in-person registration. Many residents in the state, particularly those living far from in-person registration centers, are supporting this move.

Many are also interested in the recent push to allow college sports betting in Illinois. It is currently illegal to make sports bets on college sporting events taking place within the state. Many expect to see this take place at some point in 2022.

Illinois is currently home to one of the most successful sports betting industries in the United States. Things could get even better here with a few slight rule changes. It will be interesting to see how this industry grows throughout 2022.

Which States are Set to Legalize Sports Betting in 2022?

The US sports betting industry is now the most successful in the world. More than half the states in the country have regulated sportsbooks up and running. All signs point to more states officially legalizing this form of gambling in 2022.

California is one of those states. The most populated state in the country is home to a huge number of professional teams and millions of passionate sports fans. Lawmakers here are coming to agreements with various tribal groups and many expect a vote to legalize sports betting to appear on the ballots next November.

Oklahoma is another state expected to formally legalize sports gambling in 2022. Governor Stitt has worked hard to get legislation approved since PASPA was struck down in 2018. Many expect the first sportsbooks to go live here within the next 12 months.

Even Texas may decide to embrace sports betting next year. Several prominent lawmakers in the Lone Star State support this move. They point to the massive amount of tax revenue that will flow in every month with regulated sportsbooks up and running.

Are you excited to see more casino bids in Chicago coming in? When do you expect the first sportsbooks to go live in this state? Let us know in the comments section below.

Here’s Another Update on Chicago’s Casino Plans

Chicago City Skyline And Casino Background

Illinois continues working to expand its gambling industry. For years, officials in Chicago have been working to open a new casino-resort. More information on Chicago’s casino plans is now starting to surface and some are surprised to hear what is being proposed.

Several companies have recently submitted proposals to open a casino in this city. Several steps still need to be taken for any casinos to open here, though.

Here’s a look at some of the progress being made here.

Here’s What You Need to Know About Chicago’s Casino Plans

Illinois is known for having the largest gambling industry in the Midwest. For many years, popular casinos have been operating in this state. Sports betting launched here in 2020 and Illinois now has one of the largest sports betting markets in the country.

Back in 2019, Governor Pritzker gave approval for a new state capital plan. Under this plan, several new casinos would be given permission to open in the state; including one in Chicago. The process of opening this Chicago casino has been much more difficult than most initially expected.

Chicago’s casino plans continue to surface. New reports have just come out claiming that no Las Vegas casino companies are interested in opening a gambling venue here. That is a surprise, as Las Vegas is still home to the world’s biggest and most successful gambling venues. Five companies have submitted proposals to open this gambling property in Chicago. Mayor Lori Lightfoot spoke to the media about the companies pushing to open a casino here this week.

“We are thrilled to have received five high-caliber proposals from Bally’s Corp.; HR Chicago, LLC; Rivers Chicago at McCormick, LLC; and Rivers 78 Gaming, LLC,” Lightfoot said. “The submission of bid responses represents a major step toward the thoughtful development of a casino-resort that uplifts our businesses, employs and empowers our residents and encourages tourism.”

Things are moving forward, albeit slower than many expected. It’s exciting to see companies submitting proposals here, though, and hope is that construction on this casino begins at some point in 2022.

Sports Betting Revenue Continues to Surge in Illinois

Illinois is now home to one of the largest sports betting industries in the United States. Sports betting launched here in 2020, at a time when most sports leagues were completely shut down. As the sports industry began to operate again, sports gambling revenue in the state started to surge again.

Before long, Illinois developed the most successful sports betting industry in the Midwestern United States. A huge amount of revenue has been flowing in from this industry. That was once again the case this past August.

The sports betting handle in Illinois surpassed the $400 million mark last August. Revenue here came out lower in August than in most of the other months this year. That’s not a surprise, however, as August tends to be the worst month of the year for the US sports betting industry.

It seems very likely that September will be a much more successful month for this industry. The start of the 2021/2022 NFL season has helped to bring many states a huge amount of sports betting revenue. Reports on Illinois’ revenue over September are expected to surface soon.

The sports betting platforms and expanding casino options in Illinois continue to find success. Stay tuned for more updates on the revenue figures here as 2022 approaches!

More Midwestern States Look to Expand Their Gaming Industries

Historically speaking, the Midwestern United States has not been much of a major gaming hub. Illinois is beginning to change things, though. Several states in this region of the US are now looking to expand their own gambling industries.

That includes Missouri. One major tribal group in this state recently revealed plans to open an incredible $60 million casino-resort at the Lake of the Ozarks. It would be one of the biggest development plans at the Ozarks in many years.

Missouri may also soon legalize sports betting, too. Several professional sports teams here recently submitted a proposal to finally legalize sports gambling in the state. A growing number of lawmakers are also voicing their support for this move lately.

2022 is expected to be a huge year for the gambling industry. Many states around the US seem likely to legalize sports betting next year. The massive revenue potential from this industry is simply too attractive for states to ignore at this point.

Are you excited to hear about Chicago’s casino plans? When do you expect the first casino to open here? Let us know in the comments section below.

Popular Illinois Casino Signs New Deal With Chicago Bears

Chicago Bears Logo

For years, Illinois has been preparing to significantly expand its gambling industry. It seems that the state’s sports teams recognize this changing trend. News broke this week that a popular Illinois casino has just signed a new deal with the Chicago Bears.

This should help to bring this gambling venue considerably more exposure. It also goes to show how far the state’s gaming industry has come recently. Now is a great time to talk about exactly which casino the Bears have decided to team up with.

Let’s get into it!

Illinois is Now Home to the Country’s Second-Largest Sports Betting Market

The US sports gambling industry has grown tremendously since 2018. This was the year PASPA was removed, giving every state in the country the ability to legalize its own sports gambling industry. Today, more than 30 states have passed legislation to allow this form of gambling.

Illinois launched its first sportsbook in March of 2020. It immediately became clear that there was a major demand for sports betting. Revenue figures earned from this industry quickly began to surge with each passing month.

Today, Illinois is home to the second-largest sports betting market in the United States. Only New Jersey is ahead in terms of revenue. That’s not a huge surprise when considering New Jersey also draws in a huge number of bettors from neighboring New York.

2021 is proving to be an exceptional year for the sports betting companies in this state. This past April, Illinois saw an astounding $537.2 million in sports betting handle. The vast majority of the bets placed here were made using a mobile device.

Most analysts expect revenue figures from Illinois’ gaming industry to increase as 2021 goes on. That is particularly true if lawmakers approve a measure to allow college sports betting here in the near future. Some even feel that Illinois has the potential to become the country’s biggest sports gambling hub soon.

The casinos here are bouncing back from the events that unfolded in 2020. We’re now beginning to hear about a major new partnership involving one of the state’s sports teams and a casino here.

Chicago Bears Sign New Sponsorship Deal With a Popular Illinois Casino

Illinois is home to a huge number of casinos. Lately, the government here has been working to expand the number of gaming venues operating in the state. It comes as part of the plan to generate more tax money from these properties.

It seems that the state’s embrace of casinos is being noticed by various Illinois sports teams. This week, news broke that the Chicago Bears have just signed a new sponsorship deal with a popular Illinois casino. This is the Rivers Casino in Des Plaines, one of the most successful gaming venues in the state.

The Rivers Casno casino will be the “official casino of the Chicago Bears” moving forward. Bears president Ted Phillips released a statement on this situation to the media. In it, he expressed his excitement and believes this will help the team to better connect with fans.

“We are incredibly excited to announce BetRivers and Rivers Casino as our first multi-year exclusive partner in the Sportsbook and Casino categories,” Phillips said. “We look forward to connecting with our fans in fun and unique ways through these avenues and couldn’t be prouder to be building this relationship with a hometown company.”

The Bears also signed a sponsorship deal with BetRivers, a popular sports betting company in the state. Both this sportsbook and Des Plaines casino will receive access to “digital, social and print assets” of the Bears. This should help to bring these companies significantly more exposure over the next few years.

There is a lot happening with the gambling industry over in Chicago. Here’s a quick look at the state’s plans to launch a casino in the city of Chicago.

What’s Happening With Chicago’s Casino Plans?

Back in mid-2019, lawmakers in Illinois approved a new capital plan that allows for several new casinos to be constructed around the state. To the surprise of many analysts, that includes a new casino in Chicago.

Several issues have come up with attempting to get this venue built, though. First, state officials set an unusually high tax rate for whichever company was granted a license to run this venue. That kept almost all of the country’s major gaming companies from expressing any interest in running this casino.

Location has been another issue. Officials in Chicago have spent a considerable amount of time trying to find the best location to open this venue. There are still several areas of the city under consideration to host the Chicago casino.

There has been little word on this venue for the past few months. Mayor Lori Lightfoot seems determined to make progress, yet other issues are clearly taking precedence. Hope is that Chicago’s first casino will open its doors within a few years.

Those in the Chicago area have plenty of great, nearby gambling venues to choose from. That includes the popular Illinois casino recently partnered with the Bears, Rivers Casino in Des Plaines.

Are you excited to hear about the Bears’ new sponsorship with Illinois gaming companies? Let us know in the comments section below.

Chicago’s First Casino is Expected to Come in 2025

Chicago

For years, officials in Illinois have been interested in opening a brand-new casino in Chicago. It hasn’t been easy getting this gambling venue up and running. Today, news broke that Chicago’s first casino is expected to open its doors in 2025. 

It’s exciting news for gambling fans throughout the state of Illinois. Today, we’ll talk about what’s being done to get this venue built. We’ll also discuss how Illinois’ gambling industry could evolve over the next few years. 

Let’s get into it!

Land-Based Casino Restrictions are Being Lifted Around the Country

It’s an exciting time for the casino industry right now. For more than a year, casinos in the US have been seeing major drops in their monthly revenue figures. Fortunately, it’s clear that things are beginning to improve in a big way. 

Tourism rates across all of the country’s major gambling hubs are surging. Places like Las Vegas are seeing steady increases in their hotel occupancy levels. As a result, more casinos are choosing to increase their operating hours and have begun offering more entertainment options. 

The relaxing of major casino restrictions has also helped this tourism boom. Many of the states around the country have recently loosened many of their regulations inside casinos. As a result, more people around the country are choosing to visit these major gaming hubs. 

Las Vegas is set for a big change beginning on June 1. Governor Sisolak recently announced that casinos in the state will be given permission to operate at 100% capacity. Nightclubs and bars can also run at full capacity. 

States around the country are now taking a closer look at expanding their gambling options. There are some fantastic new casino-resorts opening around the US soon. That includes Resorts World Las Vegas, the most expensive gaming venue ever built in the city. 

For months, lawmakers in Illinois have been talking about opening a gambling venue in the city of Chicago. We’re now beginning to hear more about when this property could be opening its doors! 

Here’s a Look at When Chicago’s First Casino is Set to Open 

Illinois is home to a large and successful gambling industry. It’s set to expand in a big way, too. Lawmakers passed a new Capital Plan back in 2019 that allows for several new casinos to open around the state. 

That includes one in Chicago. Mayor Lori Lightfoot embraces this move and has been working hard to get a casino built in the city. Several issues have gotten in the way of this happening. Fortunately, it appears there is some progress being made recently. 

Location has been a major issue with this gambling venue. Officials wanted to ensure it would be built in a place that is easily accessible. Even today, no one seems to know where exactly this property would end up. 

The opening date of this venue was also a talking point. This week, we finally received an update on when this casino could open its doors. If all goes according to plan, Chicago’s first casino will finally open its doors by 2025. Mayor Lori Lightfoot gave a statement that discusses the plans yesterday. 

“After years of planning, we are beyond excited to begin the RFP process for Chicago’s first casino,” she said. “We look forward to collaborating with world-class operators to develop a premier entertainment destination that will catalyze growth in our dynamic economy, create sustainable, good-paying jobs for our workforce and bring new financial opportunities to our businesses.”

Lightfoot is now asking for formal applications to run this venue. An operator is expected to be chosen in 2022. It will then take a few years for the city’s first major casino-resort to open its doors. Stay tuned for updates! 

Illinois’ Sports Betting Industry Could Begin to Shrink Soon

Back in March of 2020, sports betting finally went live in the state of Illinois. It was an extremely exciting time for sports fans here. Some, however, complained about the fact that they had to register in-person in order to make online sports wagers here. 

As the pandemic began to intensify around the US, Governor Pritzker decided to scrap the in-person registration rule. Doing so allowed residents in the state to register online to online sportsbooks. This helped the sports betting industry here grow extremely quickly. 

Things have begun to relax in recent months around the US. As a result, Pritzker seems focused on once again requiring in-person registrations. Many have pushed against this idea when considering the health crisis around the country is still far from over. 

Many also feel this will end up shrinking the state’s sports betting industry. A huge amount of revenue has been flowing in from sports betting lately. That could begin to slow down, as fewer individuals are expected to register if the in-person rule is set in place. 

The gambling industry in Illinois is changing quickly. Several new gambling venues are set to open their doors here over the next few years. It now seems that Chicago’s first casino could even open up in 2015. We’ll provide more information on this situation as the months go on. 

Are you excited to hear about the casino opening in Chicago? Let us know in the comments section below! 

The Push to Open a Real Casino in Chicago Continues

Mayor Lori Lightfoot

For years, officials in Illinois have been looking at plans to open a Class III casino in the city of Illinois. It hasn’t been easy and several huge delays have come up getting this venue up and running. It now appears that the push to open a real casino in Chicago is once again ramping up.

Many of the leaders in this city feel now is a great time to get this property up and running. Unfortunately, there are still some issues getting in the way. Today, we’ll talk about when this Chicago casino could eventually start operating.

Let’s get into it!

The US Casino Industry Shows Signs of Recovery

There has been a huge amount of attention placed on the land-based casino industry over the past year. In March of 2020, this entire industry came to a screeching halt. States across the country were forced to order their casinos to shut down.

This affected certain areas more than others. Places like Las Vegas and Atlantic City were hit extremely hard. These cities are known as major gambling hubs and rely heavily on tourism. When the casinos shut down, tourism rates plummeted.

Some clear signs are now pointing to a recovery for this industry. Infection rates are beginning to drop in many areas of the country. As a result, several casino hubs are seeing an easing of major restrictions.

Tourism is beginning to increase as these restrictions are lifted. Las Vegas casinos recently began operating at 35% occupancy. Some experts believe that this city will begin seeing a massive surge of visitors by the time summer rolls around.

Several states are now interested in expanding their casino industries. That includes Illinois, which passed a capital plan allowing new casinos to open around the state back in 2019.

Chicago has been interested in opening a new casino for years. For several reasons, this has not taken place. There now seems to be some progress being made.

Lori Lightfoot Wants to See a Real Casino in Chicago Soon

Chicago has never been home to a real Class III casino. Many have complained of this fact and believe a casino in the Windy City would be hugely successful. Finally, in mid-2019, state officials agreed and approved a plan to open a gambling venue here.

The state initially set extremely high tax rates on this property. As a result, no companies expressed interest in operating a casino here. This rate was eventually lowered as a way to make things more appealing for potential operators.

Location then became a major issue. City officials were finding it difficult to find the most ideal spot in Chicago to host this new property. There are still a few possible locations being considered throughout Chicago.

There is now some real progress being made to open a real casino in Chicago. Mayor Lori Lightfoot claims she wants to choose a winning bidder to host this new casino before the end of the year. Companies can begin sending their proposals to operate this venue in April.

“This is taking too long,” Lightfoot said of the process. “I’m an impatient person by nature. This has been a long time coming. We are not going to undercut this opportunity.”

Analysts believe that a casino in Chicago will help to significantly boost tourism into the city. The revenue earned from this venue will also help to fund various state programs. It seems to be a win-win situation and officials now want to move forward with the plans to get this property operational.

We’ll be sure to offer more updates on this venue over the next few months.

Illinois’ Sports Betting Industry is Quickly Expanding

Legal sports betting finally arrived in Illinois on March 9, 2020. It has grown exponentially since that time thanks to looser rules on online sportsbook registrations. Illinois is now seeing regular increases in its sports gambling revenue.

$581.6 million was placed on sports bets here in January. That makes Illinois just the fourth state in the country to have a monthly sports betting handle surpassing $500 million. Sportsbooks earned $49.4 million in taxable revenue.

Most experts expect to see a significantly larger handle in February. This year’s Super Bowl will likely be the most-bet-on sporting event in history. Illinois will almost surely see its largest handle and revenue figures to date.

This state is clearly going all-in on its gambling industry. Sports betting is proving to be extremely profitable every single month. Several new casinos will soon begin operating throughout Illinois, as well.

It seems likely that we will see a real casino in Chicago open its doors within the next few years. Lori Lightfoot is being proactive at getting this process complete. Hopefully, the entire US casino industry is in a much better place by the time this property opens its doors.

Are you excited to see a new casino in Chicago? When do you expect to see it open? Let us know in the comments section below.

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!

Here’s Another Update on IL’s Sports Betting Regulations

Governor Pritzker

Illinois officially began allowing sports bets to be placed on March 9th, 2020. Initially, sports bettors needed to register in-person to join an online sportsbook. Online registration started being allowed fairly recently. This week, Governor Pritzker offered another important update on IL’s sports betting regulations.

Fortunately, this update will benefit sports bettors in the state. Today, we’re going to talk about what Governor Pritzker has decided. We’ll also talk about how Illinois’ gambling industry is set to evolve.

Let’s get into it!

Sports Betting Revenue Continues to Surge Throughout the US

As many are now aware, the US Supreme Court decided to remove PASPA back in May of 2018. This completely changed the country’s gambling industry. With PASPA gone, every state could set its own laws towards sports betting.

It didn’t take long for state leaders to capitalize on the law change. Sports betting bills began appearing around the country. States with regulated sports betting industries started seeing their revenue earnings increase rapidly.

Today, more than two years later, over 20 states now have legal sports betting industries set in place. The US has become the world’s biggest sports gambling market. Many of Europe’s top sports betting companies are now making the move into the US to take advantage of this new market.

New Jersey is proving to be the most lucrative sports betting destination in the United States. For months, revenue from the industry has been increasing rapidly. In September, the state set another all-time US record for sports betting handle at $748 million.

No one expects things to slow down anytime soon. We’re now several weeks into the 2020 NFL season and bets continue to increase. Several more states now have the legalization of sports betting appearing on November’s voting ballots.

Sports betting fans in Illinois got another good piece of news this week.

IL’s Sports Betting Regulations Are Remaining in Place, for Now

Illinois’ lawmakers pushed hard to legalize sports betting almost immediately after PASPA was struck down. It wasn’t until this March that the first legal sportsbook began operating here, though. Initially, the state required all sports bettors to register in-person at a sportsbook before being able to place any wagers online.

This approach was taken by several other states. It’s proven to significantly reduce revenue earned from the sports betting industry. The fact is most people are unwilling to register to an online sportsbook at a physical location when there are already so many unregulated online sportsbooks available to join online.

It seems that officials in Illinois realized this. Recently, the state decided to suspend its in-person registration rule. Sports bettors were able to register to state-regulated online sportsbooks online. The plan was for this regulation to end this past weekend.

Interestingly, IL’s sports betting regulations have been extended. Governor Pritzker has decided to keep this rule set in place until at least November 14th. The Governor will then need to decide whether or not to scrap the rule entirely.

The change in rules has already resulted in a massive surge in new sports betting sign-ups. Revenue from this industry is increasing and the state is earning some much-needed money via taxes. Eventually, land-based sportsbooks will begin operating in the state’s major sports arenas, too.

Illinois is working hard to expand its gambling industry. Several more casinos are still scheduled to open here over the next few years.

What’s Happening With the Casino Plans in Chicago?

Last year, Governor Pritzker signed off on a new capital plan that allows for new casinos to begin opening around the state. Several cities have already received permission to host one of these new gambling venues. To the surprise of many, the Governor also agreed to allow a major casino-resort to open in Chicago.

The process of opening this Chicago has been extraordinarily difficult. The state set extremely high tax rates for whoever operates this venue. As a result, no companies were pushing to obtain a casino license here.

This tax rate has since been lowered. Even now, very few companies are seeing the potential for major revenue gains here. Mayor Lori Lightfoot is working hard to make this future casino more appealing, though.

Not long ago, Lightfoot invited several major gaming companies to offer their insight on this venue. The Mayor wanted to learn more about how the casino would be run. This process would also help the state better decide which company to grant a license to. We’ll hear more about the state’s plans for the casino in Chicago in the next few months.

Hopefully, IL’s sports betting regulations remain how they currently are. The state is finally seeing a major surge in legal, taxed sports betting. We’ll be sure to offer more updates on this industry here over the next few months.

Are you happy to see Illinois suspend its in-person sportsbook registration process? When do you expect the casino in Illinois to open? 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!

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!