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Chicago Coalition Presents Casino Proposal

CHICAGO, Illinois – As reported by the Chicago Tribune: "A coalition of business, labor and civic leaders is floating a proposal for a downtown casino that would anchor a newly created entertainment district, just months after Gov. Rod Blagojevich gave a thumbs-down to the idea of a casino in the city center.

"The presence of a land-based casino with 3,000-plus positions for gamblers would act as an economic development engine, the coalition argues, drawing greater numbers of tourists and business travelers to the city center and its theaters, restaurants and museums.

"…In its early stages, the proposal will be a hard sell in Springfield, where it will be floated in the November veto session. Republicans have opposed publicly owned casinos, and Gov. Rod Blagojevich, a Democrat, last spring shot down Mayor Richard Daley's push for a city-owned casino.

"…On Thursday, a spokeswoman for the governor declined to rule out the possibility that the governor would get behind the plan, saying he hasn't had a chance yet to review it.

"…Under the proposal, the casino would be jointly owned by the city and state, with the city getting one-third of the revenue generated and the state getting two-thirds. The coalition estimates it would generate $250 million to $300 million a year for the city and $600 million to $700 million for the state.

"The coalition says the casino would act as an economic catalyst, bringing $1 billion in new spending into downtown annually and leading to the creation of 11,000 new jobs…"

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