Casino Doomed?
It used to be that a casino was a license to print money....but not in Chicago:
Bally's Chicago is pausing construction on several parts of its permanent casino as a political fight intensifies over the future of video gaming terminals in the city.
The company says the growing push for hundreds of new terminals could drain revenue from the casino; it's a concern that has divided members of the City Council.
At issue is a decision made during last year's budget negotiations to authorize several hundred video gaming terminals, or VGTs, as a way to help close the city's budget gap. Bally's is now pushing back, hoping to get the city to reconsider, prompting frustration from some aldermen who argue the casino operator is overstating the threat.
A casino twenty years ago might have solved a bunch of problems.
A casino ten years ago might have alleviated problems that have since grown to huge issues.
A casino tomorrow would probably end up costing taxpayers untold more millions....and still might.
The incompetency is staggering.
Labels: money questions
posted by SCC at 12:04 AM
15 Comments:
Casinos are not economically beneficial for the state. Predominantly all they do is take money from addicted gamblers. They make no products or services that benefit people. It’s supposed to be a form of entertainment but primarily derives its profits from addicts. Also, the casino in River North looks like shit based on the clientele that hang out by the front doors. Politicians sound like uneducated trash when they tout the benefits of these businesses.
Only chicago politicians could fuck up building operating and making $ with a billion $ casino. Wtf
Way to go dumb fucks
Crooks fighting for the last dollar....
Casino gambling has been overdone. Chicago’s approach to allowing a major casino to open was ass-backwards. The Lakeside Center at McCormack place, with the Arie Crown Theatre and parking could have been up and running for 2 years now. That under used facility would have been a goldmine. Building an attached hotel to a new casino like Ballys was unnecessary folly.
Not surprised. The city officials are to involved and will doom the whole thing.
Only a Democrat could fuck up a cash cow like a casino.
The problem is the mob action wildings. Because the leaders of Chicago feel that those children look like theirs, Chicago will collapse and there will be reduced pensions!
These thieving jagoffs always want to have absolute control over the casino operations and the counting room..Ain't going to happen..
They’re continuing to work on the casino itself and it will be open in 2027. But they’ve paused construction on the hotel, restaurant and music venue.
Chicago is doomed by incompetent leadership.
All Democrat fool's!
This clown show should’ve been completed, just in time for BJ to divert the money to more south and west projects.
Years ago, Jack Mabley convinced me of the uncounted costs of state-sponsored gambling.
Just another gang of grifters with their hands in the public till.
And in Illinois /Chicago, many more hands, many times worse.
My neighbor runs a bunch of poker machines in the city. What he explained to me was that Ballys wants all the revenue from all of the video gaming machines currently running in the city?
And because the city agreed to a contract with Ballys that was so poorly written. It time to pay the piper. Just like the Skyway and parking meters….
The city tied themselves to another great money maker?
it's in the wrong damned location!
It should have been the original McCormick Place lakeside Center. Not exactly the original, this one replaced the burned down one, but it's barely used now, has that semi secret bus lane to get there from The loop, has the Metra Electric station right there.
So I wonder how much cash under the table Lightfoot got for picking the Trib's printing plant site, which is hell to get to?
Note that she is now one of Bally's shysters suing the city over this. She should be DQ'd by the judge as she has an inherent conflict of interest in this, plus this is undoubtedly Part 2 of her bribe from Bally's when she gets far more than any of the other shysters in this case get paid.
This entire mess is a typical Richie Daley abortion, since he was the one who delayed & delayed a city casino!
Bally’s first mistake was to do business with the City of Chicago. The city will claim bankruptcy in 5 to 7 years.
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