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Re: NEW CASINO COMING IN ILLINOIS
In Response To: NEW CASINO COMING IN ILLINOIS ()

Big article in todays Chicago Sun Times. An auction is going to be held to decide who the license will go to. Rosemont is being run and proposed by Isle of Capri, I think it was. Desplanes by some local developers and as you mention, Waukegan by Harrah's. I seem to recall that Harrah's had the high bid in the preliminaries that caused them to select these three finalists. Rosemont had the lowest. Difference from what I recall reading was $375m for Waukegan(Harrah's) and $350m for Rosemont(Isle of Capri). From my understanding each has it's own advantages that might outweigh a little in the bidding here.

For example, the area of Waukegan, (Lakehurst Mall) is a underutilized area and fairly depressed. It is under redevelopment though and with housing popping up there might not be as depressed as some might think. The area does still need a shot in the arm. Economic Development would be a plus for them. Whether the state would see the most from this though I don't know.

Rosemont on the other hand is half built as it is, assuming they continue with the current site. It is located near O'Hare airport and near the convention center and hotels in Rosemont. Would be a good location if the state wanted the most revenue as it would definately draw a lot of out of town visitors that would not just spend money in the casino but at local hotels, convention center, entertainment venues, restaurants.... A lot of opportunities for spending in other areas that could generate jobs and taxes. Waukegan might not have that same tourist attraction. Waukegan would pay more up front but Rosemont may generate more in the end due to it's activity.

As for Desplanes, I don't know where that would be located. The casino is proposed to have a Chicago Theme and highlight the cheracter, hospitality.... of Chicago. Considering though that most of the patrons would be Chicagoans to begin with I don't think that is as big of a deal. Desplanes, as I see it, has a pretty big tax base as it is so they, I don't think, have the need for the economic shot in the arm that say Waukegan does. Nor does it have the same Draw of visitors that Rosemont would.

The original gaming laws that brought casinos to Illinois was innitiated in the spirit of giving economic opportunities to depressed areas of the state. Joliet, Aurora and Elgin for example were all struggling after loosing a lot of industry. They are now, from my understanding and observation with Elgin and Aurora, doing pretty well. I had to go up to Waukegan a few months ago for Traffic court. The court was in a strip mall right behind Lakehurst and I will say it was spooky there. I didn't feel unsafe at all but the area was like a ghost town and seemed run down and depressed. A huge mall that is the rival of most in the area was totally shuttered and weeds growing from the cracks in the barren parking lot. Waukegan plans to share in it's revenues with other surrounding communities that might actually be more in need than they are.

Desplanes and Rosemont don't seem that depressed but they also pledge to share the proceeds with other communities that are in need.

Most of what is said here is my observations and not what was mentioned in the article. There was also a side bar article of how the Attorney General is trying to overturn a December ruling in court regarding Rosemonts part in all this.

http://www.suntimes.com/output/news/cst-nws-casi02.html

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NEW CASINO COMING IN ILLINOIS
I'm still waiting on mine in Indiana!
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Sorry, It's South.
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I just wonder what...
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