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Posted: August 19, 2019 |
CHICAGO (CBS/AP)-- Mayor Lori Lightfoot on Tuesday concurred with a new usefulness research study, saying the state statute that authorized gambling enterprise betting in Chicago would make it impossible for a casino driver to be effective. " The way in which this tax structure was put together, it can not be done," Lightfoot claimed at a Tuesday mid-day press conference. Lightfoot's remarks can be found in reaction to an independent usefulness study commissioned by the Illinois Gaming Board. The record wrapped up, and Lightfoot agreed, that "gaming expansion ???????? regulations that permits a gambling establishment in the City of Chicago is really difficult from a tax as well as cost point of view" and likely can not be funded under the structure desires. Under the law, a Chicago gambling enterprise operator would have to pay a $250,000 application cost upfront, a $15 million "settlement" fee when the certificate is provided as well as as much as $120 million in gambling placement fees. Economists have said the upfront tax settlements installed into the gambling enterprise statute wouldn't enable an online casino operator to be effective. PRESS OCCASION: Mayor Lightfoot signs up with members of press. Listen https://t.co/9M0wJO65fP -- Mayor Lori Lightfoot (@chicagosmayor) August 13, 2019 Lightfoot said she was dedicated, in addition to Gov. J.B. Pritzker as well as legislative leaders, to set a structure for funding a Chicago online casino "that would really work." Lightfoot also highlighted some positives in the expediency study that would benefit the state as well as the city, consisting of "the extraordinary benefit potential of a casino site in Chicago that will certainly dwarf the profits that have actually been created by any type of various other gambling establishment in the state by several sizes. So obtaining this right remains in everybody's rate of interest-- ??????? not just Chicago. This is something that is mosting likely to generate-- if it's done right-- substantial incomes for the state." Lightfoot on Tuesday additionally introduced the results of an initial public survey, in which Chicagoans were asked to detail their choices for leading priorities for the new casino site. Greater than 10,000 locals participated in the study-- which considered the ideal place of a gambling enterprise, whether near or far from downtown, near Lake Michigan or the Indiana state line, near mass transit, or where a gambling establishment would be most profitable. The biggest percent, at 36 percent, claimed the ideal location is near downtown. Study individuals were also asked the most vital consider selecting a website for a gambling enterprise, and what services they would like to see built with a casino. Restaurants came in first at 58 percent, complied with by theater/live enjoyment at 51 percent, as well as a resort at 41 percent. Relatively couple of shared interest in an amusement park, golf links, or gym. At the same time, an overall of 73 percent of respondents claimed boosted tax earnings is the most important benefit of opening up a Chicago online casino, followed by raised work at 55 percent. Regarding concerns regarding opening a gambling establishment in Chicago, enhanced traffic jam came in first at 55 percent, followed by gambling dependency at 47 percent. Five potential online casino websites were shortlisted previously by the Lightfoot management-- the previous Michael Reese Health center site at 31st Street and Cottage Grove Avenue; Pershing Road and State Road; Roosevelt Roadway and Kostner Opportunity; Harborside at 111th Road as well as the Bishop Ford Freeway; and also the previous UNITED STATE Steel site at 80th Street as well as the new Lake Shore Drive. The feasibility research resolved the possibility of a gambling enterprise at each of those locations. But Lightfoot stated in the meantime, repairing the tax problem is more crucial than anything to do with the website. She stated all the sites now on the table have actually been bandied regarding as possible casino websites for many years. " There's no location or combination of services that makes this bargain one that can actually get funded," the mayor stated. "That's precisely the point that we made to the legislative folks that were putting this together. And also currently, I believe we have actually obtained a conclusive, independent judgment that makes that clear."
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