A Casino Bill?
Kind of an awkward time to be passing something that should have been done years ago:
- The Illinois House on Saturday passed legislation changing the tax structure for a Chicago casino that Mayor Lori Lightfoot has been pushing for the past year.
The legislation also would extend from two to six years the amount of time casino’s owners would have to make a reconciliation payment, another change Lightfoot has pushed.
That legislation now heads to the Senate, where its future is uncertain, as lawmakers work into the holiday weekend to attempt to pass a state budget during a special pandemic-driven session.
There was some bipartisan support in the House for the casino bill Saturday, when the measure cleared with a 77-32 vote. It’s the furthest Lightfoot’s proposed Chicago casino changes have gotten in the General Assembly to date.
This is good, but after destroying the convention and tourist industries, we don't know how they expect this to make a single dime.
Also, we don't know if there is a management company that even wants to operate a casino in Chicago. The taxes and fees would have made it impossible for them to turn a profit for years, decades even, and it killed any sort of interest last time around.
Also, we don't know if there is a management company that even wants to operate a casino in Chicago. The taxes and fees would have made it impossible for them to turn a profit for years, decades even, and it killed any sort of interest last time around.
Sun Times coverage here.
Labels: money questions
posted by SCC at 12:05 AM
77 Comments:
This will make billions!!! Oh wait.. Nevermind. It will be in the ghetto. So long pensions
The clouted will be placed in management positions, wetting their beaks again; while the patronage army run the tables, mans the concessions, and labors cleaning. Security, maintenance, concessions, and the parking garage will be awarded to the political contributors.
There’s one management company in Chicago that would be happy to take on the task...
Vanecko Gaming & Casino LLC.
Pretty sad when a city has to try and depend on dope and gambling to try and stay afloat.
People will be lined up to open casinos. Everyone knows how corrupt Chicago is. A pay off here and there and they will make billions as an LLC, then they will fold the LLC.
hi there. my name is lori. i am master and commander of the peoples republik of shicagostan. have i got a deal for you ! i want you to build a 300 million dollar world class casino in my province, with your own money. i will pick your contractors and suppliers. then i will force you to only hire convicts and criminals, cuz that the shitcago way. we will bang you with free upgrades and plan changes, and you will have to bribe every swinging dick in my realm to finish the project. and heres the best part. still with me ? we want 99 % of the gross. yes i said gross. this is my feifdom and i am the boss. you will comply. hello ? hello ?
bring back the mob. they would have that up and running in a month. and everyone would get a taste. fuckin democrats. if they found the goose that laid the golden egg they would cook it right up with some fava beans and a nice chianti. fukkin losers. the old head of the federal reserve said if you put the govt in charge of the sahara desert, in five years there would be a shortage of sand ! politicians are ugly people with no skills or morals, who couldnt run a paper route. but put them in charge of multi billions of other peoples dollars they are suddenly experts at everything. now i understand why the whole village came out for public hangings in the old days. need to bring that back. with socialized distancing and masks of course ! 2 ropes for the fat guy !
way off topic here. just read in a trade publication that bobby rush, brain dead racist skeleton is the chair of the energy commitee. makes rules for the whole countrys energy needs. who knew ? that senority is a beautiful thang. anyway, skeletor is trying to shut down all pipeline construction by imposing aocs green new deal into new pipelines. all climate change over the lifetime of the pipeline would have to be considered before the govt would permit it. the libs hated coal and oil and nuke, gas was the answer, cheap clean and plentiful, so they have to shut it down using the fantasy of climate change. who better to do than this pos rush. forget about the toilet paper, save those cowpies to heat your shack when its 20 below and the maga lynchers are out and about. bobby rush, stool pigeon black panther, deciding the energy fate for 330 million people. oh how far we have fallen from the days of righteous men.
I'm confused I thought we were approved already? But when groot gave the 5 ghetto locations the investors said nah?
It sounds like they tweaked the rules regarding taxes and fees so that a casino operator could actually make a profit. Now all they'll need is an armed valet system do gamblers can make it home alive with any winnings.
Hey Groot make sure to tax the casino at 100% and redistribute the money to under blah blah communerties— I can not make this joke work I am sorry guys😢
Ha ha... someone try talking her out of taxing the casino at 100% rate is the real joke
Goodness! I recall Daley 2 or Rahm wanting the casino, with Quinn saying no because of the mafia. ☹️
Whos going to go to this casino with covid floating around killing the elderly?
And the revenue would fund and make our pension whole right? I think not.
I wouldn’t insert a penny to any Chicago penny slot machine.
Put slots all throughout ohare and midway airports. City would make a killing! How long would that take to set up!
From hospital to casino. Now that the convention business has fled Chicago for good might as well put the building to better use. Only thing the Casino will do is drain the community of money they cannot afford to lose. Just go to in casinos and look at the quality of cars in parking lots with Illinois plates. That will tell you all you need to know about what and who will be frequenting a Chicago Casino. Well at least city will be getting back all of the free money they are giving to the communities. Mark my words a Casino in Chicago will have a catastrophic effect on communities of color.
So Lori expects us to go back to normal soon?
Spend million's to make thousands.
Only in Chicago.....
OT
Jelly Belly said that the family wsa in florida for 7 weeks cuz they were sheltering in place and afraid to come back.
Watch the 12 minute mark as he tries to explain this
https://m.youtube.com/watch?v=sYcA9z6upzc
Doesn’t matter about a casino if Larry still is sticking with putting it in the west or south side. No one is going to go.
Lightfoot needs to get her head out of her ass and forget that she ever proposed the 5 spots on the South and West sides. No investor will want to develop in an area riddled with crime. Let’s be smart here Larry. Tourists will also be jeopardized Uber-ing or driving through the neighborhood to get to the casino. Vehicular carjackings will rise. Robberies for those awaiting their bus back to their area of the city. No no no. Instead, Larry if you want this thing to succeed... offer up what Amazon refuses and passed on.
The proposed sites are:
Lincoln Yards, a development along the Chicago River near Lincoln Park and Bucktown.
The Downtown Gateway District, which includes space in Willis Tower and redevelopment of the old main post office and Union Station.
City Center Campus, a proposed redevelopment of the state-owned Thompson Center in the Loop.
The River District, a 37-acre development along the river and Halsted Street.
The Burnham Lakefront, a Bronzeville development that includes the Michael Reese Hospital site.
The 78, a development planned on 62 acres along the river between the South Loop and Chinatown.
Fulton Market district properties controlled by multiple owners.
Illinois Medical District redevelopment.
Michael Reese is one of the 5 she originally offered and what makes sense across from McCormick Place, but all these locations make sense for revenue, tourism, and success.
when leftfoot gets done with this turd. this thing will be a few billion in the hole. looking for funds to shore up pensions? those six figure board members have to get paid first. after initial splash and plenty of slum times coverage. odds on winning will plummet below norm.
You’re about 20 years too late on this. Nice try though.
Making money doesn’t matter for Lori. The casino will not happen. All ii it does it will be is a vehicle to give patronage jobs to the community. The place will be a people and folks and lgbtq social justice warrior shit show. And loris feral predators will be right around the corner robbing anyone stupid enough to go there. She’s got to be forced to resign.
Chicago will be the only casino on the globe to charge for parking(25/50) sometimes thats all the money people have to spend,this casino will be a FLOP....
Ha.
Between the cost of building it and staffing it, who in their right mind is going to come to Chicago. Remember, this was dependant on conventions, which just are not coming back to Chicago for a long time. This Mayor has thrown them under the bus and does not care. Well when the hotels are at 20% occupancy when they should be at 75% with conventioneers, then you will realize what a mistake this was. People are NOT going to crowd into a casino standing shoulder to shoulder with each other for a long long time.
I was a regular at River's b4 the bullshit china-virus, if Chicago ever opened a casino, u really think people will go to it, get real, I think NOT!
They should have kept half of McCormick Place a hospital and half a casino. The Fusion thoughts are endless.
Now, kees me you fool!!!!
Way too late to the party. It will eventually turn into what Riverview and the downtown movie theaters did years ago.
Whether the casino opened last year or it opens in 2022, Covid would have interrupted the convention and tourism business in 2020. All that can happen at this point is to open the casino and hope that tourism resumes in the next year or two. The tourism business has a 50% unemployment rate right now, so it’ll take so e work to get it going again, but our pensions depend on it.
I was listening to 890 AM yesterday. Groot was on, and was asked why she’s not opening the lakefront. She said the lakefront was an “intimate setting.” I’m not kidding. I think she’s lost her marbles.
So far they predict a 75% tax rate to operate a casino under current laws.
ShortShanks and Rahm had their guys run numbers, contracts laid out, dozens getting a share and then greed set it. Profit for the private owner/operator group would be almost nothing, probably only $10-20 million a year net. Chump change.
Along came the reformer, the former US Assistant to Real Attorneys, LightLoafer and JB PiggyBack.
They’ve already recruited their new group of investors.
Just so happened hotelier JB Hoghollar likes the McCormick land (currently ready to provide care for 40,000 for covid recuperation) that’s happens to be adjacent to his under utilized, failing Hyatt Hot’L (currently used to house covid heath care teams).
The JB Hyatt Casino Plaza would be up and running by spring 2021 or sooner. And from what I recall a majority of the ComEd infrastructure was put in over 15 years ago. Why let ShortShanks-Rahm’s economic crisis blunder go to waste?
But -
Look, This Is How It’s Gonna Be™️:
Casino revenue will not be used to fully fund First Responder Pension. Period.
At best, maybe 10-15% by 2030 the earliest...that’s when the Illinois Lottery will fully funding state education, Ohare will be fully rebuilt, Deep Tunnel will finally completed to relieve flooding and IL Tollway will be entirely free.
Oh I forgot...and that obama book repository needs to get funded first and foremost even before CPS will need casino dollars for iPad elearning retooling.
I don’t think 1 big casino would work. Put in a ton of slots at both airports and at busy downtown locations .. like the state of Illinois building.
Nobody will want that license and it’s going to be a loss for anybody who takes it
"Stoner Steve" Chapman of the Libune editorial board takes a break from his pro-weed columns today and writes about the doom and danger of reopening restaurants because he can sense the fear is fading and he needs to keep the hysteria up. Makes Fatty and Groot look good, and Orange Man bad.
If you miss it, the short bio at the end of each column reminds you that Steve has a degree from Harvard.
https://www.youtube.com/watch?v=2nf_bu-kBr4
Been going to Michigan,Indiana, Iowa and Wisconsin casinos for years. Cannot tell you the last time I set foot in an Illinois casino. I will never set foot in one in Chicago.
More reason for me to spend money at Rivers!
The Hard Rock Casino in Gary is already under construction at Burr Street and I-80/94. $200 million development will be ready 1st Qtr. of 2021. 185,000 cars per day pass this site. This along with Horseshoe, East Chicago and Blue Chip as well as Four Winds in Michigan is going to sink Buckwheat's dream.
The Gary Casino is owned by the Seminole Tribe from FL, as well as Spectale Gaming. The billionare behind this is the guy that owns the racino's in Indy. Chicago is 10 years too late.
At the beginning of the year there were five thousand restaurants and bars in the city. Had each been allowed five gaming machines there would have been more gaming positions than any casino in the world. The city taxing and licensing each one with no infrastructure costs to the taxpayer. Wake Up Lori !
There’s one management company in Chicago that would be happy to take on the task...
Vanecko Gaming & Casino LLC.
5/24/2020 01:05:00 AM
Who, obviously will get their cut up front, before the final losses are tabulated.
Too little. Too late.
rb
Well let’s see she said that if she gets her casino the police and fire pensions will be funded, we are cash darn minute isn’t required by law did she also say approximate two months ago she would not let the Citi go bankrupt and make sure that she finds those pensions? Pinocchio had nothing on her you say we are like your children right mayor then you need to feed the children, mom feed our pensions hows that mama!
Suspend civil liberties and keep legal dope operations, abortion killing factories, lock downs and population control and now bring in gambling to Shitcago. Do nothing about sky rocketing murder rates and multiple shooting incidents. No nothing about that. Its to embarrassing to the Community and to embarrassing to the thin skinned Toad. Fake news won't touch it. Now that's reform politics by the reform mayor.
The little pig mayor is looking tired, worn out, sickly and frustrated that the city love she craves turns out to be the city's middle finger. Promises made, promises broken. So here's to you madam pigster, we give you the "one finger" salute.
Listen Chicago will be fine. We will get the casino and we will get money from that. No only the money from the casinos don’t forget the large amount of yearly tax money we get every year from the tolls on the skyway and the downtown and city parking meters.. oh, wait.. Nevermind. Damn it, we’re screwed.
Just read the revised Rest in Peace Level 3 Guidelines for Health Care/Fitness Centers/Gyms from Governor OBESE,s Orders.Personal Training in the parking lots?????Can some Executives from the Fitness Industry step forward and file the appropriate litigation.This fat slob has your entire industry effectively shutdown until there is a vaccine developed.You can shove 50 sweaty muts into a Wacky Weed Dispensary or a couple of hundred shoppers into Walmart or the local grocery stores but you can't have 25 people workout in a warehouse sized Gym?I get that the Governor has never entered a Gym and does not care but there are thousands that do.
These fucking assholes. Shore up the pensions with this new money? Oh, HELL NO! We have projects to finance for the betterment of feral dogs that will piss all over the gardens planted with this new money, meanwhile, as per usual, the city and states prior obligations get ignored. Never miss a chance to do the wrong thing.
To 07:33 AM: The major Vegas casinos have been charging for parking for several years now.
Chicago should of had a Casino 30 years ago. Desplains has the Rivers Casino,Elgin has the Grand Victoria, Joliet has the Hollywood Casino. Chicago is 30 year's too late.
Chicago NEEDS to have a Chicago lottery.
I have news for you, the Corona virus is NOT going away!!!!
I rather go to Las Vegas casinos than anything Chicago has to offer!
Chicago is a dying city with all the outrageous taxes, high fees and expense of just living here, PERIOD!
Even as close as Indiana has better offers than Chicago, like starting with free parking!
I can fuel up my gas tank in Indiana based on Chicago parking fees alone!
Unless it's Monte Carlo, casinos as a rule don't attract the best of society. Putting the casino in Chicago will only attract more crime and drug activity, along with the dregs of society.
Good thing Meigs Field was bulldozed. What a perfect spot to build a pillar of corruption for all to see. Keep paying you fools.
Chicago is 30-35 year's too late for a
casino. Too many casino's in nearby Indiana and surrounding suburbs.
The (Evil One's) get first grabs on casino's.
Look into the Red Mafiya, they are the highest ranking mafia.
They are internationalist.
House always wins @ the Casino. In Chicago, the Casino isn't "the house", the Shitty of Chiraq/Crook County is, so no one in their right mind will want to own/operate a Casino there.
Maybe the shitty can risk their own money, own/operate it and see how it goes? Bwhahahahahahahahahahahahahaha....
Any and all Casino money will not go to fix pensions it will be used to plug huge hole in city budget. Guarantee that will be what she says. Also you just lost any chance for a raise. City can it afford it. For once they may be right.
You’re about 20 years too late on this. Nice try though.
You're right. Very sad! Had Chicago gotten the casino 30 years ago even with the skim we would've been so much better off. King Daley it's very surprising you couldn't get it done. City broke yet has 1.5 Billion for Lincoln Yards 9 Billion for airport expansion that now with nobody flying looks even more fucking ridiculous. Stop this expansion take whatevers left idk 5 billion and pay down debt you bug eyed twerp.
I have 8-11 more years to go but I have several home projects that need attention. But I don't want to put any money into my house with the gloom and doom of this city and state have coming.
City employee not police. God bless the men and women in blue!
Deniro and pesci have both called and want to operate the casino. They promise that groot will get 20 percent of the skim. Porky the pig is also banning any italians from entering any cornfields in illinois.
So first you take away the taxpayers jobs and money now you want to open a Casino. Who has any money left for That? Brilliant. Bet the onlynway city gets casino operator is if the contract requires the city to guarantee a certain return to the lease holder any shortfalls in the guarantee will be made up by the city. So winds up being another net drain on city coffers. Nice plan Grout.
I don’t care who it attracts. Fund our pension
I hear vanecko maintenance is a reliable company for the casino, pay back our pension money Jagoff
Anonymous said...
From hospital to casino. Now that the convention business has fled Chicago for good might as well put the building to better use. Only thing the Casino will do is drain the community of money they cannot afford to lose. Just go to in casinos and look at the quality of cars in parking lots with Illinois plates. That will tell you all you need to know about what and who will be frequenting a Chicago Casino. Well at least city will be getting back all of the free money they are giving to the communities. Mark my words a Casino in Chicago will have a catastrophic effect on communities of color.
5/24/2020 05:53:00 AM
Perhaps the city can increase the amount on their LINK cards...
Nothing like closing the gate long after all the horses have fled.
The mob wants nothing to do with a Chicago casino, too many hands in the pot.
Josh Randall, Wanted Dead or Alive Says:
another highly stupid decision on the part of Illinois Elected Leaders. Too little, too late. A Lakefront Water Park with anemities would have been far better, and family orientated. And Soldiers Field should have bee domed decades ago, except for the error by yet another Dunce Chicagoland Politician, a stupid prick with absolutely no aforesight, other than how to line his pockts at all costs to the taxpayers.
I agree, get the Chicago slot machines in the airports asap!
Illinois Lottery has Kiosks to buy lottery tickets and scratch offs games and those machines always has people around them and they run out of tickets all the time!
I also think it is really stupid, that there is nothing of a concession stand at the new O'hare MMF, Car Rental Center and the place is going on two years being open!
Who in the hell is running this place [dummies], look at all the lost, sorely needed revenues!
Observations from an Airport, Chicago Police Officer, Unit 050!
Daley could have had a gambling boat , remember he didn’t want any putt putt boats .
Casino now will bail out pension funds . If we had it 20-30 years ago , all the money would be gone by now .
Just like Skyway and Parking meters , private companies are making money , Daley sold us out .
“ You’re about 20 years too late on this. Nice try though.”
“You're right. Very sad! Had Chicago gotten the casino 30 years ago...”
– I recall 1990 or so when casinos Investors were lobbying the IL lawmakers. They came in with promises of projected annual gross revenue But after operating costs and IL taxes even 30 years ago all that was left were peanuts. I think it all started with a riverboat proposal to be docked at Navy Pier. Remembering ShortShanks was concerned over the city’s image....mmmmm-hmmmm. Basically it always been about control over who builds the facility, but mostly where and how the money is split. City wanted their cut on gross receipts up front, settled for net and pissed the deal away when too many insiders balked at only 9 figure returns.
Suburbs and neighboring states still rake in plenty, but that money if coming into Chicago would have been squandered on sanctuary efforts not pensions or healthcare.
Heck, $200 million in parking meter revenue annually....wish we had some of that action for pensions.
Wonder how the Skyway is doing.
Anonymous Anonymous said...
Any and all Casino money will not go to fix pensions it will be used to plug huge hole in city budget. Guarantee that will be what she says. Also you just lost any chance for a raise. City can it afford it. For once they may be right.
5/24/2020 07:42:00 PM
State law dictates that the money goes to Police and Fire pensions.
http://www.ilga.gov/legislation/publicacts/fulltext.asp?Name=099-0506
Chicago is not broke , teachers received big raise , illegals welcomed, free breakfast lunches for CPS . How much food was thrown in garbage , what company profited? All City Departments are top heavy with highly paid , unqualified managers. CPD , CPS ,CFD ,
Water Department , Mayor Lightfoot not collecting water bills , fines for speed , red light , vita vehicle license violations.
Money not gangs to stop the violence.
Mayor Groot wants Mayor Groot gets
Be vary wary of this new bill being introduced. I haven't read the whole thing, but the original bill that Rahm was pushing through went like this: once the casino was paid off in full (construction, labor, etc.) then the revenue generated by it would be used for CFD & CPD pensions. After those pensions were made solvent, then the $$ would go to the teacher's union and education.
The trick with this original formula was "when the casino was paid off in full." We all know too well how inflated construction costs and how over-budget these projects become.
Too late.
Entire country is saturated. Illinois politicians are clueless and haven't noticed that casinos are dying.
Anonymous said...
"The mob wants nothing to do with a Chicago casino,
too many hands in the pot."
5/25/2020 09:22:00 AM
Correction:
Too many hands in the pot
that DON'T belong to the mob...
Too many competing interests
wanting dibs on the skim.
It'll be a card table shoot-out/mash-up of
"The Ballad of Buster Scruggs"
vs. "The Inglourious Basterds."
Point blank table top and under-the-table mutual
shit-killing can be a deeply ugly affair.
Or the height of hilarity if enough of the right
rotten m/fers are thusly engaged.
5/24/2020 02:45:00 PM
Anonymous Anonymous said...
I have news for you, the Corona virus is NOT going away!!!!
5/24/2020 02:47:00 PM
Mark my words, if a democrat wins the Whitehouse, the next day the press will declare the Wuhan virus scare is over. They did it with Daddy Bush, the press pushed the mantra of our econony was in recession, and on election day when it was apparent Clinton beat him, the press declared the recession was over.
Chicago is not broke , teachers received big raise , illegals welcomed, free breakfast lunches for CPS . How much food was thrown in garbage , what company profited? All City Departments are top heavy with highly paid , unqualified managers. CPD , CPS ,CFD ,
Water Department , Mayor Lightfoot not collecting water bills , fines for speed , red light , vita vehicle license violations.
Money not gangs to stop the violence.
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