The Illinois General Assembly has approved and sent to Gov. Rod Blagovich a bill that will extend the diversion to horse racing of 3% of revenues from the state's four highest-grossing riverboat casinos. The provision is estimated to be worth as much as $30 million a year and by law is divided 60% for purses and 40% for tracks.
After more than a dozen years of wrangling, Illinois race tracks and horse owners soon may see the influx of millions of dollars from riverboat casinos – and Hawthorne Race Course could add a casino to its racing operations, helping drive additional subsidies for all tracks.
Just days after the Illinois Gaming Board revoked the license of Emerald Casino, one-time rival communities once again are preparing to join a prolonged battle for the lucrative riverboat license.
The Illinois Gaming Board voted unanimously Tuesday to revoke the license of Emerald Casino -- the proposed riverboat gaming palace that once was expected to generate millions of dollars a year to support the state's racing industry.
Morton Grove, Illinois, a Chicago suburb once considered as the site of an off-track betting parlor, has modified its zoning laws to preclude any future incursions by wagering interests.
Gov. Rod Blagojevich said Monday he wants an outsider to review the Illinois Gaming Board's decision to put a casino in Rosemont because the public can't trust the gambling regulators in the matter.
Legislators in Illinois have begun grumbling over riverboat casino legislation passed in 1999 that earmarks 15% of adjusted gross revenue from the state's 10th and final casino to the state's horse industry.
The Illinois Gaming Board Monday picked Isle of Capri Casinos Inc. to receive the state's 10th casino license.
An auction between three companies seeking to buy Illinois' tenth casino license, which would provide 15% of adjusted gross revenue to the horse industry, closed Thursday with Harrah's Entertainment the highest bidder. A final decision on who gets the license will be made by the Illinois Gaming Board Monday.
Three finalists for a dormant casino gaming license in Illinois currently held by bankrupt Emerald Casino Inc. were named by the state gaming board Wednesday.
Penn National Gaming has submitted a bid to finance and construct a casino in the Chicago area. Penn National was one of seven companies interested in buying the bankrupt Emerald Casino and one of three companies that expressed interest in building a casino in Rosemont, Ill. Financial details of the bid were not disclosed.
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