πŸ’ Chicago Casino Tax Structure Amended by Illinois General Assembly

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Chicago's chances of getting its casino may hinge on whether the city itself or the Illinois taxman -or both – is willing to take a smaller piece of the pie, and whether​.


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In a pitch to lawmakers in Springfield on Tuesday, Chicago Mayor Lori Lightfoot pegged the estimated revenue for a Chicago casino at $


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The Illinois General Assembly has agreed to adjust the taxes and fees a casino operator would pay on wagers placed at the Chicago gaming.


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Illinois casinos may be closed due to the coronavirus, but Chicago hit the approval to redo the tax structure for the planned Chicago casino.


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Amending the Chicago casino tax structure was part of an $40 billion budget spending plan passed over the weekend by the Illinois General.


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Illinois casinos may be closed due to the coronavirus, but Chicago hit the approval to redo the tax structure for the planned Chicago casino.


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After years of pushing a casino, Chicago's leaders seemingly hit the jackpot when Illinois lawmakers approved one. But some big obstacles.


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In a pitch to lawmakers in Springfield on Tuesday, Chicago Mayor Lori Lightfoot pegged the estimated revenue for a Chicago casino at $


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Illinois casinos may be closed due to the coronavirus, but Chicago hit the approval to redo the tax structure for the planned Chicago casino.


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Governor JB Pritzker signed a bill into law Tuesday finalizing a gaming package that paves the way for a Chicago casino by reworking existing.


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Legislators and city officials were negotiating fixes, but lawmakers adjourned their fall veto session without taking addressing the issue. Indiana Gov. Bob Rita, a Blue Island Democrat who sponsored the expansion, introduced a city-backed plan to lower some taxes and fees, but said lawmakers ran out of time for a vote. Then construction can begin. Lightfoot has favored a casino as a way to boost economically-depressed neighborhoods and to bring long-term financial stability. The Illinois Gaming Board has a year to review applications and conduct background checks before issuing licenses. The city must convince state lawmakers to vote on a plan that officials say makes the casino more profitable as well as choose a location, which already has sparked disputes. Though Chicago could use some positions for airport slots, a Chicago casino could rival those on the Las Vegas Strip. The competition. Politics Illinois US Sen. Former Gov. Payout problems. The one-third rate, which applies to Chicago and not the other casinos, was written into the plan after lawmakers rejected the idea of a city-owned casino. Indiana's Horseshoe Hammond Casino on Sept. Not everyone is on board, particularly with the social cost. Lawmakers approved up to 4, gambling positions, slots or table seats. First-year Gov. A required feasibility study in August evaluated five sites outside downtown , including a former U. Even without the legislative delays, a ribbon cutting will take a while. Sites often discussed include the state-owned James R. The draw. Mayor Lori Lightfoot says downtown is still in play. The Illinois Gaming Association worries about oversaturation with the expansion. State Rep. As violence rages, Chicago police superintendent decides to create new version of swarming citywide suppression unit.{/INSERTKEYS}{/PARAGRAPH} Latest News. Here's what we know about them. There are also doubts about the feasibility study, conducted by a Las Vegas consultant. Pat Quinn vetoed two gambling expansions over concerns about ethics and school funding. Leroy Jones plays video gambling games at Lucky Jack's in Waukegan in The plan. The consultant didn't like any of 5 proposed Chicago casino sites. Thompson Center and an aging McCormick Place building. Eric Holcomb signed a plan this year that will, among other things, allow two Gary casino boats on Lake Michigan to move to land sites and help open another casino in Terre Haute. Skip to content. Chicago would use profits to pay down pension debt. He said Gary β€” 30 miles from Chicago β€” would "absolutely" compete with Illinois casinos. Caesars Palace and Aria have roughly 1, slots apiece. Experts say casinos can have two major benefits for cities: economic growth and tax revenue. The details β€” including location and designβ€” are unknown. {PARAGRAPH}{INSERTKEYS}But obstacles remain before anyone can place any bets. Revenue estimates vary. The opposition. Former Mayor Richard M. Chicago leaders have long found both ideas alluring.