CHICAGO — Chicago Mayor Lori Lightfoot is pushing two options for a Chicago casino. One calls for a casino owned by both the city and the state, the other calls for a privately-owned casino. Chicago – Mayor Lori E. Lightfoot released a detailed summary of the 11 responses to the City of Chicago’s Request for Information for the Chicago casino providing an inside look at the City’s first step in the planning process to develop and operate a world-class casino. The information provided will be considered in the development of the City’s Request for Proposal which is expected ... The long-discussed proposal would allow a land-based casino in Chicago and riverboat casinos in several locations, including 00Rockford, Lake County and Danville. After an outcry from residents in neighboring Frankfort, a Matteson development group is moving its proposed casino location to a vacant Carson Pirie Scott store at the shuttered Lincoln Mall. Chicago Casino Proposal Unprofitable, Uninvestable, Says Feasibility Study. Posted on: August 14, 2019, 08:38h. Last updated on: August 14, 2019, 01:03h. The new proposal would give new Illinois casinos – including one in Chicago – six years to pay out a mandated 75% reconciliation fee. That’s up from a period of two years in the current law. Lightfoot says a city casino won’t get built under the current rules because the tax and fee structure is too onerous. The plan estimates that the city will pick a casino operator in mid-2021, and a permanent casino could open in 2025. The city’s share of revenue from a casino is earmarked for its police and fire pension funds. A Chicago casino is allowed to have as many as 4,000 gaming positions, including slots at O’Hare and Midway airports. The Chicago casino will be able to place gaming machines at O'Hare and Midway airports, and allows horse racing tracks to have slot machines and table games on site. The measure also legalizes ... A state-hired consultant says the proposed tax structure for a Chicago casino is “very onerous” and could fail to attract an investor. The Illinois Gaming Board released the study Tuesday ... In a pitch to lawmakers in Springfield on Tuesday, Chicago Mayor Lori Lightfoot pegged the estimated revenue for a Chicago casino at $1.2 billion, a take that would funnel $940 million to the ...
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