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*** UPDATED x1 *** Hard Rock International, Cheap Trick’s Rick Nielsen team up for Rockford casino

Friday, Jul 12, 2019

*** UPDATE *** Good…



[ *** End Of Update *** ]

* WIFR TV

As Rockford’s push for a casino continues, at least one proposal appears to be in the works.

On Tuesday, Hard Rock International CEO Jim Allen and Cheap Trick guitarist Rick Nielsen plan to announce the proposed development of Hard Rock Casino in Rockford.

Allen and Nielsen will be at the former Clock Tower Resort at 7801 E. State Street. The announcement is expected around noon.

Nielsen has traveled to Springfield on behalf of his city at least a couple of times. Not sure if many people knew he was hoping to open a casino. But, hey, that looks like a pretty cool combination.

* Meanwhile

Nevada hopes to be the first state to create its own banking system for the booming marijuana industry, which has generated more than $150 million in tax revenue since 2017, according to Nevada Treasurer Zach Conine’s office.

Since the drug is still illegal under federal law, most banks won’t accept cannabis businesses as clients. As a result, the multimillion-dollar industry is mainly a cash business — at least for now.

Under a three-year pilot program, Nevada will allow marijuana businesses and consumers to deal in electronic tokens. The system will work much the same way as in in casinos, where players buy and bet with chips. “You exchange cash for casino chips and those chips transfer around the casino,” says Conine. “At the end, you convert them back into cash.”

The initial idea is for consumers and businesses to use an app to buy tokens, which could then be used at any marijuana business or for paying state and local government. Consumers could use them at dispensaries. Dispensaries could use those tokens to pay growers, who in turn could use tokens to pay a tax bill to the state. At that point, the state would convert the tokens back into dollars.

Pretty good idea.

* Related…

* Proposed Ban on Video Gambling Licenses Addition in Lake County Unincorporated Areas Fails

* Rivers Continues To Far Outpace Casino Rivals

- Posted by Rich Miller        

9 Comments »
  1. - Da Big Bad Wolf - Friday, Jul 12, 19 @ 11:54 am:

    Surrender, Surrender, but don’t give your whole paycheck away.


  2. - Ron Burgundy - Friday, Jul 12, 19 @ 11:54 am:

    “Surrender… Surrender! But only on a hard 16 with the dealer showing ten…”

    Doesn’t have the same ring to it.


  3. - Grandson of Man - Friday, Jul 12, 19 @ 11:59 am:

    We as a country are still deep in Reefer Madness. As long as McConnell controls the US Senate, legalization probably won’t pass even though legislation exists or is taking shape. The correct way to legalize is nationally, so businesses can use banks without any contrivances.


  4. - Montrose - Friday, Jul 12, 19 @ 12:05 pm:

    Cheap Trick seems like a pretty good name for a casino.


  5. - Fav Human - Friday, Jul 12, 19 @ 12:39 pm:

    I want you to gamble, I want you to spend…


  6. - Whizbang - Friday, Jul 12, 19 @ 12:54 pm:

    It kind of makes since Nielsen is in Springfield often. Has he been cultivating friendships or just visiting?


  7. - A Jack - Friday, Jul 12, 19 @ 12:55 pm:

    And the slots can play “Ain’t That A Shame”, when you lose.


  8. - DIstant watcher - Friday, Jul 12, 19 @ 2:09 pm:

    Guy owns a part of Piece in Bucktown, so he has some experience with doing up restaurants


  9. - Colin O'Scopy - Friday, Jul 12, 19 @ 4:24 pm:

    “I want you, to want (to pay) me”.


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