Plan to Expand Illinois Gambling Expands

The plan to expand gambling operations in Illinois has itself expanded. As previously reported here, the idea to open three new casinos in the state, one in Chicago and two on water, has floated around the governor's office and the legislature for months. Now, a new bill containing other expansions as well is seen as likely to pass.

The new plan would project to raise over $1 billion in yearly taxes, money Illinois desperately needs to support its budget. The proposition was drawn up by state Democratic leaders and has the support of House Speaker Michael Madigan, previously one of gambling's most vocal opponents.

Besides the creation of the three new casinos, the expanded proposal includes the right of each of Illinois' nine existing casinos to buy almost 400 new gaming positions, either at slot machines or seats at table games, for a fee of $50,000. The five horse tracks currently running would also have the option to buy slot machines at the licensing charge of $50,000, with a maximum number of machines to be determined for each individual track.

Track officials throughout the state indicated they'd definitely be willing to pay for the rights to install slots.

Interestingly, the provision also includes language permitting "advance deposit wagering" on horse racing, which seems to open the path to Internet betting on the horse races. This would allow for the eventual ultimate off-track betting, from one's own home or anywhere your laptop may travel. If this is interpreted in the player's advantage, a whole new source of income may be opened to parimutuels.

December 11, 2007
Posted By Larry Rutherford
Staff Editor, CasinoGamblingWeb.com
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