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April 23, 2014 / Administrator

Chicago Casino and Massive Gambling Expansion Bad for Downstate and Illinois

The Chicago Mega-Casino and Illinois Gambling Expansion Bill
 
–Would authorize borrowing of up to $900 million to build Rahm one of the
world’s largest casinos on the Chicago riverfront. Risk of debt spread to all Illinois taxpayers. Most of the benefits goes to Chicago. We have seen this before. Chicago always wins, and the rest of the state always pays.
 
–Creates the Chicago Casino Development Authority that
would have eminent domain, condemnation, and unlimited bonding powers
 
–Allows 5 new casinos to be built in Illinois, cannibalizing the market already existing for the ten previously approved. and the video gambling already enacted
 
–Allows each of the state’s six horse tracks to become “racinos”” with electronic gambling allowed. However, the bill sells these six racino licenses for a COMBINED total of under $150 million. ONE racino license in Indiana sold for $250 million.
 
–Illinois Chamber of Commerce opposes this bill.
 
More arguments and information at www.responsiblegamingcoalition.org
 
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