Illinois gambling expansion sees Chicago getting a new casino

The gambling market in Illinois is about to experience a dramatic increase in access, as a new bill will allow and promote the expansion.

Thanks to legislators in Illinois, a giant gambling-expansion bill was passed, which will allow up to six new casinos to be build in Illinois. One of these will be built in Chicago, one of the world’s busiest tourist and convention cites.

The bill will now be signed by Governor J.B. Pritzker and once successful, it will also allow the state’s existing casinos to increase the number of slot machines and table games by up to 70 %. It will also enable the state’s three horse tracks to increase their betting facilities, as they will now be able to offer other betting services, such as blackjack and craps. It also allows for further slot machines to be added in to truck stops.

Ultimately, whoever obtains the Chicago license will be able to operate slot machines in the city’s O’Hare International and Midway airports. An opportunity that is likely to prove lucrative.

Whilst America has seen rapid casino and gambling expansion over the past few decades, rarely is it done with as much haste and speed as this bill promotes. It is very rare for a new casione to be authorised one of the country’s biggest and most sought after cities.

It is expected this bill will have two serious benefactors, the contractor given access to Chicago and those that manufacture slot machines and such technology.

Furthermore, it will increase competition within the gambling industry, forcing its current predominant businesses to compete. At present, the market is operated by Caesars Entertainment Corp., Boyd Gaming Corp., Penn National Gaming Inc. and Eldorado Resorts Inc. According to John DeCree, an analyst Union Gaming in Las Vegas, these all derive around 10% to 15% of their revenue from Illinois or Indiana.

At the moment Rush Street Gaming operates the River Casino in Des Plaines, Illinois, one of casinos that is closest to Chicago. However, when approached, the company refused to comment if the company had set their sights on this deal.

The Mayor of Chicago Lori Lightfoot, who took office in May, praised the bill stating that he hoped it would create jobs and “help shore up the city’s seriously underfunded pension funds.’’