Illinois Gambling Revenue Over $ 1 Billion | Chicago News

The state gaming committee has chosen which developers are allowed to build new suburban casinos and where to do it. This was about two and a half years after the state’s gambling expansion law was passed. (WTTW News)

Illinois is on a path comparable to Las Vegas in search of gambling opportunities.

According to the latest numbers from Illinois Gambling CommitteeFrom January to October, Illinois earned over $ 1 billion in gambling revenue from video games, sports betting and casinos.

Still, that’s less than the authorities were betting two and a half years ago in June 2019 when major gambling expansion legislation allowed the construction of six new casinos.

Of the six, only one is up and running so far. Hard Rock Casino Rockford opened a temporary location in early November.

On Wednesday, state game regulators proceeded with a project to put the casino in the suburbs and selected a winning bid for the casino planned for Wakigan. The 2019 law also assigned casinos to the southern suburbs. On Wednesday, members of the Games Committee chose a proposal to build its casino in Homewood and East Hazel Crest, rather than a competitive bid that would put it in Matteson.

Gaming board members did not reveal during the meeting how they decided which bidder won.

The only debate in formal action was when Chair Charles Schmadeke thanked the applicant for his efforts.

“It certainly showed the quality of the work and didn’t make our work easier, but it certainly informed our work,” he said.

In the case of Wakigan, the board chose the proposal submitted by the listed company. Full House Resorts Co., Ltd... , Operated as an American plaice over a proposal from North Point Casino, led by former MP Michael Bond.

In an October presentation, Full House CEO Daniel Lee promised to bring Las Vegas “pizza” to Wakigan. He said the plan needed a heliport for high-end gamers to use, but as in Las Vegas, the goal is to make Wokigan a non-gambler destination with features such as a fountain show in the lobby. Said that.

“It will be the attraction you want to see, and it’s a non-game attraction where you bring them here when people come to town,” he said.

Towards the meeting on Wednesday, the field of four serious bidders had already been selected as two finalists in the casino, which the 2019 law assigned to the general South Suburbs.

Winner: Wind Creek Illinois LLCA casino will be built at the I-80, 294, Halstead intersection, a site that covers part of Homewood and East Hazel Crest, within 10 minutes of the Indiana border.

“Being so close to Indiana and the only four-diamond resort in the region, it attracts users’ money to Illinois, not the opposition that has happened in decades,” Wind Creek COO Brent Pinkston said. State game board at the October presentation of.

The location was designed to maximize profits and was designed by architects to take in views of the Chicago skyline, with restaurants such as a spa, concert venue and sky lounge, Pinkston said. It is marketed as a typical resort.

The developers of these casinos are not yet able to monetize their chips. Bidder and its plans need additional background and approval.

“Preliminary conformance is exactly that. This is provisional and does not guarantee the final license,” said Marcus Fruchter, Game Board Director. “This is a very important step that allows applicants to seek approval to start construction, but it is possible to take other steps towards the operation of the game and the start of the final license. To.

In addition, Walkiegan faces a federal court objection brought by the Potawatomi tribe in Forest County, claiming that city officials have tampered with the bidding process in support of North Point. Gaming boards are not the parties in that case.

In another proceeding, the Potawatomi tribe tried to prevent gaming boards from issuing Wakigan Casino licenses. On Tuesday, a judge in the Cook County Circuit dismissed the request for a temporary detention order for the tribe, allowing regulators to continue.

Casino development in southern Illinois is proceeding as well.

The governor was one of the officials who attended the groundbreaking Wednesday on Wednesday Walkers Bluff Casino, About 5 hours south of Chicago.

“I am very proud to work with the General Assembly to expand employment and economic opportunities in southern Illinois,” said Governor JB Pritzkar. “Walker’s Bluff is already a popular attraction and has attracted tourists and business meetings from across the region. Today, with the addition of hundreds of slot machines, game tables and on-site hotels, this expansion Will bring even more visitors to take advantage of the beauty and hospitality of southern Illinois. “

Proponents of gambling expansion say that while Illinois is slow to make its mark outside the 10-year-old casino site, the state is losing tourism and income to neighboring states.

“It really made me worse for the Illinois Teachers Union to go to St. Louis for the annual meeting or for someone else to go to another state because there was enough space-it was a big deal- The other thing was that they played the game, “said Cinde Bunch, founding partner of Walkers Bluff LLC.

Opponents say Illinois does not take into account the bold forecasts of revenue generated through gambling to pay for infrastructure upgrades that do not take into account hidden costs such as gambling addiction.

The city of Chicago has received five bids from potential casino operators. A hearing on them is scheduled for December 16th.

The fate of the sixth casino approved in 2019 remains elusive.

Proponents of the casino in the East Central community of Danville, across the Indiana border, are awaiting approval from the Gaming Control Board.

Follow Amanda Vinicky on Twitter: @AmandaVinicky

Illinois Gambling Revenue Over $ 1 Billion | Chicago News

Source link Illinois Gambling Revenue Over $ 1 Billion | Chicago News

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