No dice on 5 Chicago casino sites or ‘onerous’ taxes, study finds — but mayor, gov not leaving the table

Aug 14, 2019

“The first roll in a bid to finally bring a casino to Chicago has come up snake eyes.

Financing for any one of five proposed casino sites studied on the South and West sides is ‘not feasible,’ because of an ‘onerous’ tax structure established by the Illinois General Assembly, a consultant hired by the Illinois Gaming Board has concluded.

In a highly anticipated report expected to set the stage for a fix during the General Assembly’s fall veto session, Union Gaming Analytics concluded that a Chicago casino ‘has the potential to become the highest grossing casino’ in Illinois — ‘significantly higher’ than the state-leading Rivers Casino in Des Plaines, which generated $441.8 million last year — but only if officials lighten the tax burden on developers.”

Read more here.


The Author | wtcchicago

View More Post from The Author