Could a Temporary Casino in Chicago Open Next Year?

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

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

Let’s get into it!

Lori Lightfoot Continues Pushing for Chicago’s Casino Plans

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

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

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

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

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

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

Plans to Open a Temporary Casino in Chicago Are Being Presented

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

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

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

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

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

Sports Betting Revenue Continues to Increase in Illinois

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

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

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

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

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

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

Lori Lightfoot Wants More Information On the New Casino in Chicago

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

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

Chicago Casino Continues to Face Delays Opening

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

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

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

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

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

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

Developers Are Invited to Speak About the New Casino in Chicago

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

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

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

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

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

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

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

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

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

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

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

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

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

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.

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!

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

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

Chicago City Skyline

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

Let’s get into it!

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

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

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

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

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

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

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

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

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

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

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

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

What to Expect in the Future

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

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

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

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

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

Lori Lightfoot Wants a Change to Illinois’ New Casino Plans

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

Lori Lightfoot At Press Conference

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

The New Capital Plan in Illinois, Explained

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

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

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

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

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

Chicago Mayor Wants Changes to Illinois’ New Casino Plans

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

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

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

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

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

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

Illinois Will Soon Have Sports Betting Options Available

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

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

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

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

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