Chicago preparing for casinos

Chicago is getting ready to seek bidders to develop what Mayor Lori Lightfoot says will be a world-class casino now that it has a tax structure that would allow a casino to be profitable.

Lightfoot has begun a request for information process for ideas on a casino before the project is put out to bid.

Legislation passed in June for an effective 40 per cent tax under a new structure, down from 72 per cent, which city consultant Union Gaming had said made a profitable casino financially not feasible.

Chicago is the third largest metro area in the country with 9.5 million residents and represents the largest untapped gaming opportunity in the country, Lightfoot said.

The city’s request for information is the first step in the process to select a developer.

Source: Fantini’s Gaming Report