IGB Officials Approve New Casino in Illinois
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Illinois has nine brick-and-mortar casinos and only six of them are classed as commercial ventures. Construction work is starting on the first of six new casinos in Rockford.
The state's Gaming Board has approved a temporary casino in Rockford, Illinois. The venue will be ready to open in October 2021 and will have more than 600 slot machines. It will also be less than a mile away from the permanent Hard Rock Casino. The city will earn at least 15% of net revenue and no less $1.82 million during the initial 12 months of trading. In subsequent years, the city would earn 5% and $0.07 million depending on the venue's financial performance. iReporter will touch more on this legislation later in the piece.
Illinois passed its gaming expansion bill back on June 2nd, 2019. It will allow for a new casino in Chicago, Danville, Waukegan, Williamson County and Rockford, and an additional license for an establishment situated in one of six south suburban Cook County townships. Existing casinos will be able to expand to 2,000 positions overall. Horse tracks will also be allowed to feature up to 1,200 seats. The legislation capitalises on the US Supreme Court's decision to reverse the PAPSA legislation in May 2018. Sports betting in Illinois is legalised both online and at the state's iconic sports venues. March of this year saw the total sports betting handle in the U.S. peak at $633.6 million.
