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Illinois Gaming Legislation paving the way for a Casino in Chicago and Other Suburban Locations

In June, Illinois gaming legislation was enacted, which opened a door for a long-awaited casino in Chicago. The casino was allotted 4,000 gaming positions; the law also authorized 2,000 positions in the southern Suburban of Cook County where they have fitted slot machines in horse racing track.

Officials in Homewood and Lynwood have separately endorsed proposals for casino developers to establish gaming facilities in the areas. The casino is to include restaurants, hotels, entertainment venues, and bars in their communities. Other towns looking for developers to construct multi-million dollar casinos include: Calumet City, Country Club Hills, Matteson, and Crestwood.

In Illinois, casino developers must apply for a license to Illinois Gaming Board together with a $250,000 fee. The board will then take a year to determine the project to be awarded as per the Senate Bill 690.

The submitted proposal for the Homewood casino plan will cost $274 million casinos with 251 rooms near Interstate 80, at the intersection of Halsted and 175th Street. The casino will be operated by Alabama based Poarch Band of Creek Indians.

Lynwood casino would be more prominent; the facility plans call for $380 million, which will include a 20 storey hotel in Illinois 394 and Glenwood-Dyer Road. The Ho-Chunk Nation of Wisconsin will operate the casino.

Impact on Region casinos

A study has concluded that the Chicago casino is losing. The study found that extra taxes on casino revenue would make it difficult for the casino to operate profitably in Chicago. However, lawmakers are considering revising the Senate Bill 690 when they return to Capitol in November.

Source: https://lcb.org/news/chicagoland-close-to-development-of-another-suburban-land-based-casino-venue-located-in-homewood-il

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Isaac Munga

Isaac Munga

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