Thursday, May 17, 2007

Casinos in Chicago...

I was looking at the Capitol Fax Blog just now and there are stories about the possibility of a casino in the city. To be sure this is something I've never been big on. Why does Vegas and Atlantic City have to come closer to those areas without gambling instead of gamblers going to Vegas and Atlantic City?

Anyway gambling is a way to get in some revenue for government check this out...

Sources told CBS 2 Daley signed off on a tentative deal that could, after years of discussion, finally bring a casino to downtown Chicago, as well as to south suburban Cook County, north suburban Lake County and a site still to be determined within 8 miles of O’Hare Airport.

Chicago’s casino would have up to 5,000 positions for slot machines, card and dice games and roulette. City Hall’s tax take could be 20 percent of the anticipated $1 billion plus annual gross, or more than $200 million a year.

Nine existing casino boats would get thousands of new slot machines and other gambling positions. Horse tracks would share millions in new dollars from a so-called impact fee, tentatively 3 percent of gross receipts of all the new gambling.
Last month Illinois lost a politician who was the long time mayor of a Chicago suburb Rosemont. An issue that came up was a casino that just couldn't get off the ground no matter what they tried to do. You know I remember years ago that this proposed casino was to have some minority owners too, two of whom I'm somewhat familiar with (they're involved with a black owned bank). And charges came up that the mob had some influence in this proposed casino.

Still Rosemont might get their casino and if Daley gets his casino. How about some depressed minority communities like Roseland or Englewood or even the west side? Or how about some depressed south suburban city like Harvey, Dixmoor, Robbins, or even Phoenix? Areas like these could use some of this action if gambling is to be this cash cow it's supposed to be.

Look to be sure I read somewhere about proposals to put slot machines in race track. Thinking about it I'd say why not. At least instead of opening more casinos.

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