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Speaker Madigan's Gambling Bill

December 10, 2007

CHICAGO - Illinois House Speaker Michael Madigan presented a new gambling expansion bill in a Chicago news conference Monday. Legislative sponsors estimate it would generate $1-$2 billions per year in new state revenues.

Senate President Emil Jones was noncommittal on the plan, but state Senator Rickey Hendon (D-Chicago) it would never come up for a Senate vote.

PLAN SUMMARY
New casinos
One land-based in Chicago, plus two on water elsewhere in the state.

Expanded casino
Each of the existing nine casinos in Illinois could buy up to 388 new gaming positions (meaning slot machines or seats at gaming tables), for $50,000 per position, paid to the state.

Slots at tracks
Each of the state's five horse racing tracks could buy the right to slot machines or video poker on their premises, for $50,000 per machine. Each track would be allotted a different maximum number of machines it could buy.

Revenue
The upfront fees, and much of the added revenue from the expanded gaming, would be earmarked for state education and infrastructure needs, as well as local city and county services.

Other provisions

New state gaming and racing oversight boards, to replace the existing ones, with explicit guidelines for choosing and maintaining members.

Increased attention to gambling problems, including anti-gambling kiosks set up in the casinos.

Authorizes horse tracks to allow "advance deposit wagering" accounts that could be used in Internet betting

Return to Illinois Casinos.


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