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Chicago Mayor Proposes City-Owned Casino

CHICAGO, Illinois – As reported by Reuters: "Chicago Mayor Richard Daley asked state lawmakers on Monday for a city-owned casino that he said would generate hundreds of millions of dollars a year for both Chicago and Illinois.

"At a news conference, Daley said his plan would give the state $600 million to $700 million in new annual revenue, while Chicago would gain $250 million to $300 million a year.

"…The land-based, city-owned casino would ultimately have 3,000 gaming positions, but the legislation would allow for a temporary casino. Daley said a publicly held company would be hired by a new Chicago Gaming Authority board to operate the facility, which would be regulated by the Illinois Gaming Board.

"However, the mayor was sketchy on other details for the project, such as the location, although he said he preferred it be downtown.

"…Daley said he has not discussed the plan with fellow Democrat Gov. Rod Blagojevich, who has not been a supporter of expanded gambling in Illinois…"

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