New Illinois Casino Construction To Begin In March

There is a new casino going up near O'Hare International Airport in Illinois and on Monday gambling regulators were assured that the project is on schedule. Construction is set to begin next March, according to Neil Bluhm.

Bluhm is the Chairman of Midwest Gaming and Entertainment LLC and on Monday he told the Illinois Gaming Board that funding for the project would not be a problem. The economy in the US has stalled many casino projects, but Bluhm claims to have the investors lined up for the Illinois project.

"It's an aggressive, optimistic plan, but we think achievable if everything rolls into place," said Bluhm. The project is expected to include restaurants and hotels in the future, but first the emphasis will be on building the casino.

Bluhm and his gaming company won the right to the casino license back at the end of 2008. With the financial institutions cutting off credit to many large developers, the state of Illinois became concerned that the funding for the new casino would fall through.

Midwest Gaming is on the hook for $125 million once the casino is built and the doors are opened to the public. The company has also agreed to pay the state $300 million over the next thirty years. The bid from Midwest was the lowest of all the developers looking to win the casino license, but Bluhm's vision was one that was shared by regulators.

October 7, 2009
Posted By Tom Jones
Staff Editor, CasinoGamblingWeb.com
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