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 Illinois state gaming regulators narrowed the field from four
bids to two for a single casino license in Chicago’s south suburbs: one proposal
near the border of Homewood and East Hazel, the other in Matteson.
Alabama-based Wind Creek Hospitality is leading the Homewood bid. Hinsdale
businessman Rob Miller is leading the Matteson bid, along with the Choctaw
Nation of Oklahoma.
The Illinois Gaming Board rejected pitches for Calumet and Lynwood in a 4-0
vote. The Calumet bid was backed by two-sport star Bo Jackson and suburban
entrepreneur Dan Fischer.
 The new casino is one piece of the gambling expansion Gov. Pritzker signed into
law in 2019 that promised six new casinos in addition to Illinois’ existing 10.
State regulators are also looking at finalists for a casino in Waukegan.
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Illinois casino revenue has been on the decline
since 2015, according to state data. Mobile sports betting and video
gaming have put brick-and-mortar casinos in a bind. Gaming revenue
in 2020 took a serious downturn as casinos were closed by Gov. J.B.
Pritzker’s pandemic mandates.
Illinois has long looked to gambling as a revenue
quick-fix, but after saturating the market it finds itself chasing
diminishing returns. Rather than seeking more gambling revenue,
state leaders would be better-served by controlling the spending
side.
Nothing drives’ Illinois’ fiscal woes like its public pension
liabilities, which consume 25% of the state’s operating budget.
Despite pouring money into pensions, the debt continues to grow and
lead the nation at $144.4 billion by the state’s estimate, but by
$317 billion using more realistic calculations.
Pension reform, through an amendment to the Illinois Constitution,
is the surest way to fix state finances. |
