* As we discussed yesterday, billionaire Neil Bluhm is actively lobbying the Chicago city council to not expand in-person sports betting to the city’s professional sports facilities. Bluhm says the city shouldn’t try to hurt the profits of its future casino. But he’s also conveniently protecting the profits of his current suburban casino and he wants to eventually own the new Chicago casino. All that said, here’s Joe Cahill…
If Chicago is going to allow in-person sports betting, it should look to maximize competition, not constrain it. Any operator who can meet reasonable licensing requirements designed to protect the public at large from the well-known evils of gambling, such as mob influence and exploitation of gambling addicts, should be allowed to compete.
If Bluhm or any other casino bidder doesn’t want to compete with stadium sportsbooks, nobody is forcing them to. They’re free to drop out of the bidding if the ordinance passes. So far, none of them has threatened to do that.
In fact, at least one of the other bidders doesn’t share Bluhm’s worries about competing with stadiums.
“Bally’s is committed to making Chicago its flagship property, and we have no issue with Chicago sports teams having sportsbooks,” says Chris Jewett, director of corporate development for Rhode Island-based casino giant Bally’s Corp., which submitted two bids.
- Fav Human - Wednesday, Nov 10, 21 @ 1:17 pm:
Every business owner talks about the benefits of competition, but secretly wants to be a monopolist.
Why restrict gaming? Why restrict sales of legal pot?
To enhance the profits of those who get the licenses.
Sort of like Taxi medallions, til that fell apart.
- Wow - Wednesday, Nov 10, 21 @ 1:36 pm:
Rivers Casino has Mayor Lori in their hip pocket. This Bluhm bid is a done deal.
- Proud Sucker - Wednesday, Nov 10, 21 @ 1:50 pm:
“Bally’s Block 78″ has a, certain, panache’ to it.
- NotRich - Wednesday, Nov 10, 21 @ 2:08 pm:
Certain that Bluhm will not have the most lucrative bid to the City, but Lori will grease the way for her buddy to win..
- Been There - Wednesday, Nov 10, 21 @ 3:06 pm:
====Certain that Bluhm will not have the most lucrative bid to the City, but Lori will grease the way for her buddy to win..====
That’s exactly what happened when he won the 10th license bid. Got put in with bidders with Rosemont and Waukegan which in the end had higher or close to Bluhm’s bid. But then the Board decided those bids had other flaws (all of which they knew about) and picked Bluhm.
- Frank talks - Wednesday, Nov 10, 21 @ 4:40 pm:
Can I parlay the over under on Bluhm winning the bid?