Mayor Lori Lightfoot’s plan to lift Chicago’s ban on sports betting and impose a two per cent tax on gross revenues from it stalled after surprise opposition from mayoral allies.
The trouble started when Connor Brashear, chief of staff to chief financial officer Jennie Huang-Bennett, pegged the city’s annual take from a two per cent tax on sports betting in and around Chicago stadiums at $400,000 to $500,000.
That’s based on an estimated $25m in annual revenue from sports betting in Chicago.
“I just think $400,000 to $500,000 a year to the city of Chicago is really paltry – even when you add in the licensing fee that these guys are gonna have to pay,” said budget committee chairwoman Pat Dowell.
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