Results tagged “casinos”

We hope former governor Rod Blagojevich had a good time this weekend appearing at the Second City show that mocks him because he's facing even more legal trouble. Four state casinos have banded together to file a $267 million racketeering lawsuit against Blago for a 2006 law that forced the state's top four casinos to direct three percent of the earnings to the horse-track industry. The Wall Street Journal has the details.

Illinois casino industry is a step closer to expansion after a 30-28 Senate vote Saturday evening, the Chicago Tribune reports. It is now being sent to the House where reception to the measure has been lukewarm. Speaker of the House Michael Madigan (D-Chicago) was weary of approving the expansion, according to the Tribune.

As casino revenues fall across the nation, they're falling even faller in Illinois and casino execs are blaming the state's smoking ban for the drop instead of the tanking economy. Many gambling states are reporting revenue drops of five to seven percent, but Illinois' casino revenue is down a whopping 20.3 percent, which translates to $150-160 million. Tom Swoik, executive director of the Illinois Casino Gaming Association, has been claiming all along revenues would be down with the smoking ban in effect:

There's a high correlation between smokers and gambling. Although the number of people coming to the casinos is about the same, the time they spend inside is down. They're outside smoking. And in this business, if you're not putting money in the machine or on the table—time is money.

Swoik pointed to Indiana, where revenues are down only three-quarters of a percent, saying, "They have basically the same economy, the same weather...The only difference is the smoking ban." Deleware suffered a similar drop-off when they enacted their ban a few years ago but has risen back to previous levels. Cities like Elgin and Aurora have seen far less revenue this year and the execs have said they plan on pushing for legislation that would allow smoking in just casinos.

New reports show visits to Illinois' nine casinos for 2008 is down by almost a million visitors compared to the same time period (January through August) in 2007. Tom Swoik, executive director of the Illinois Casino Gaming Association, blames the smoking ban that went into effect in January, saying the ban is, "having a major impact...[gamblers] are spending less time on the machines. They'll play for two hours and then take a half-hour break." According to the Illinois Gaming Board, adjust gross receipts are down 18 percent while the state share of admission and wagering taxes is down over 25 percent. Right. We're sure it's all about the smoking and has nothing to do with the economic turmoil that's been worsening throughout the year.

The state believes it will sell its long-dormant 10th casino license by the end of the year, according to Gaming Board Chairman Aaron Jaffe. "Although the journey was tumultuous, the end result validated the efforts of many people, over a long period of time, to maintain the integrity of the gaming industry," he said. The license was originally held by Emerald Casino, which had planned to open a facility in Rosemont. The state revoked that license in 2001 amid allegations of mob connections.

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Is Mike Madigan ready to take a gamble? So it seems from a letter he wrote today to state legislators. He said today that he'd endorse a bill proposed by Democratic reps Lou Lang and Bob Molaro that expands gambling—gaming, sorry—and uses that money for roads and schools. From the AP: The new proposal includes many of the elements that already passed the Senate in September, including a huge, land-based casino in Chicago and...

Mayor Daley unveiled a plan today that would link 2,000 surveillance cameras in public places around the city. Most of the cameras are already in place, but the $5.1 million project would add about 250 more. Thanks, Homeland Security!