Chicago’s casino resort plan thwarted by high tax rate, abundant competition
Chicago's request for proposals for a casino resort was rejected. The deadline for responses has been pushed back to October 29. Las Vegas-based companies won't be bidding. Caesars Entertainment won’t be in the hunt because it already has several properties in Illinois and Indiana. Waukegan, Illinois, is considering bids for its own casino. The maximum tax rate in Nevada is 6.75 percent. Illinois would impose 40 percent on gross gaming revenue from the Chicago resort. It's higher than in other states. There's also a new gaming expansion in Wawkega.
There are other companies interested in the contract, including some in Las Vegas. Seminole Tribe’s Hard Rock International in Florida could bid. Bally”s Corp. recently announced it is buying the Tropicana in Vegas, Genting Group opened Resorts World Las Vega in June, Mohegan Gaming and Entertainment operates the casino at Virgin Hotels Las Las Nevada. Tilman Fertitta“s Landry s Inc., which owns a chain of Golden Nugget casinos nationwide, could also bid, but Lightfoot insists that Rush Street Gaming won‘t have a home-court advantage.
The Review-Journal is owned by the family of Dr. Miriam Adelson, the majority shareholder of Las Vegas Sands Corp.