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Illinois License Bidder Pledges to Share Revenue

ILLINOIS – As reported by the Daily Southtown: "Several south suburbs could receive as much as $1 million annually in gambling-tax revenue if Des Plaines is picked from among three finalists vying for Illinois' last casino license.

"At an Illinois Gaming Board meeting Monday, Des Plaines officials outlined a plan to share a quarter of its projected gambling revenue, or an estimated $7.1 million a year, with Cook County's 10 poorest communities.

"Nine Southland communities are on the list: Harvey, Markham, Chicago Heights, Robbins, Riverdale, Dixmoor, Ford Heights, Phoenix and Summit, which saw its own casino plan eliminated last week.

"…Towns with at least 30,000 residents, including Chicago Heights and Harvey, would receive an estimated $1 million a year in shared revenue under Des Plaines' plan.

"Markham, Riverdale and Summit would receive a projected $676,000, while the smaller cities would get about $500,000 annually.

"The figures are based on tax revenue projections from Midwest Gaming & Entertainment LLC, the Chicago-based casino developer working with Des Plaines to win the license.

"…Rosemont also outlined a plan that would funnel gambling-tax dollars to the south suburbs, though its formula would spread smaller payments out over a larger number of cities and towns.

"Rosemont would share 80 percent of its annual revenue, or a projected $17 million, with 71 Cook County communities…"

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