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Illinois Gaming Board awards 10th casino license to Des Plaines

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December 23, 2008 | Print View

The Illinois Gaming Board voted 3-1 Monday to award the state’s 10th riverboat casino license to Midwest Gaming & Entertainment, which wants to build the casino in suburban Des Plaines. According to the Chicago Tribune, Midwest’s bid of $125 million for the license was the lowest of the three companies seeking the license. Also bidding were Trilliant Gaming at $435 million, which wanted to build in Rosemont, and Waukegan Gaming, which bid $225 million.

 

According to the law passed in 1999 that made sweeping changes to gambling in Illinois, 15 percent of gross revenues from the 10th boat are to go to the horse racing industry in the state. Published reports have estimated horse racing’s take at approximately $68 million a year.

 

The awarding of the 10th license has been long delayed. It was originally to be awarded to the community of Rosemont, but attorney general Lisa Madigan contended that the city’s mayor had ties to organized crime. Legal and administrative debates kept the licenses being awarded and the gaming board rebid the license.

 

Click here to read the complete story from the Chicago Tribune.


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