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* Crain’s has a story on casino magnate Neil Bluhm and his potential bid for a Chicago casino…
As Bluhm mulls his next moves, FanDuel and DraftKings are inking partnerships with sportsbooks at Chicago’s stadiums. The most potentially lucrative and furthest along is a DraftKings sportsbook at Wrigley Field. The Chicago Cubs have already received the OK from the city’s Landmarks Commission to build a betting parlor at the corner of Addison Street and Sheffield Avenue.
But the City Council hasn’t approved stadium-based wagering yet. Ald. Walter Burnett, 27th, whose ward includes the United Center, got the ball rolling last month when he introduced an ordinance allowing betting at stadiums. City Hall sources say people in Bluhm’s camp argued against the bill, which has been sidelined in the rules committee.
Bluhm confirms that he opposes the stadium-betting bill. He warns that stadium-based sportsbooks would generate little money for the city beyond a licensing fee of $50,000 for the first year and $25,000 per year following, while cutting into the action at a Chicago casino that city leaders hope will generate about $200 million in tax revenue annually to shore up sagging municipal pensions. […]
Stadium sportsbook proponents say the argument is disingenuous: Money will flow to the city, just via vertical capital spending through the state’s “Rebuild Illinois” program. Chicago is expected to receive hundreds of millions to improve university and community college facilities as the state’s gambling expansion takes off.
Unreal.
Chicago undercut the last capital bill by not opting into video gaming for the same sort of “reasons.” Bird in the hand, folks.
* Meanwhile…
July was a strong month for Northwest Indiana’s four casinos, with a favorable calendar and more visitors helping to bump total revenues up by more than 12% over June.
The casinos took in a total of $104.2 million in July compared to $92.2 million in June, according to the monthly revenue report released Thursday by the Indiana Gaming Commission.
* Related…
* Which Companies Are – And Aren’t – Making A Play For The Chicago Casino License
* Mayor: Arlington Park sale announcement could come in next month or two
* Arlington Million Day media gets parting gift — Petrillo throws all out of press box: “I’ve certainly never seen or heard of anything like it,” said Marcus Hersh of The Daily Racing Form — one of the most respected turf writers in North America.
posted by Rich Miller
Tuesday, Aug 17, 21 @ 10:31 am
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Previous Post: State pushes back Thompson Center RFP deadline, but scheduled sale date remains intact
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Killing horse racing, killing a Chicago casino. With big business friends like him who needs enemies?
Comment by Sonny Tuesday, Aug 17, 21 @ 10:40 am
The famous description of Goldman Sachs applies here to Mr Bluhm. “Vampire squid wrapped around the face of [Illinois]”
Comment by Well… Tuesday, Aug 17, 21 @ 10:45 am
If gambling is being taxed at the same rate, regardless of type or location, then the city should be indifferent as to if that gambling happens next to Wrigley, or where ever the casino is plopped down at.
And why would all gambling NOT be taxed the same??
Vampire squid wrapped around the face
Where is Ripley when you need her?
Comment by Fav Human Tuesday, Aug 17, 21 @ 11:11 am
I’m confused. Is Bluhm a “maker” or a “taker?”
Comment by 47th Ward Tuesday, Aug 17, 21 @ 11:55 am
47th, both.
Comment by Rich Miller Tuesday, Aug 17, 21 @ 12:23 pm
The new Chicago casino and sportsbook legislation and bid process are going to be a treat. Check out the 5h9m of the July 21 City Council meeting when Alderman Beale rises to object to a sportsbook ordinance being accepted by the Clerk at 8pm the night before Council. As some press box wag pointed out that day on Twitter, I don’t remember which, sure would be interesting to know who tipped Alderman Beale the ordinance was a late filed one headed to a Zoning & Consumer Protection joint committee. Video is over at: https://vimeo.com/showcase/citycouncil
Comment by ChicagoBars Tuesday, Aug 17, 21 @ 12:42 pm
The Arlington Park people have been floating trial balloons about “moving” their track license and opening a Racino somewhere else in the Chicago area. Their new habit of trashing the legislature and fighting with reporters won’t help that effort.
Comment by Telly Tuesday, Aug 17, 21 @ 1:11 pm
Yeah please ChicagoBars tell us? was it Berrios and Bob Rita? doing the bidding for the gordon sondland’s (yeah, Trumps guy owns a bunch of Illinois gambling) of the world?
Comment by RealSmallBusiness Tuesday, Aug 17, 21 @ 1:23 pm
I have no idea RealSmallBusiness but whatever reporter pointed it out was on to something. I have a hard time believing any Alderperson was perusing the stack of new business introductions checking for (maybe non-existent IIRC) time stamps of when they were filed with Clerk.
Comment by ChicagoBars Tuesday, Aug 17, 21 @ 1:36 pm