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Posted: August 26, 2019 |
CHICAGO (CBS/AP)-- Mayor Lori Lightfoot on Tuesday concurred with a new feasibility study, saying the state law that authorized gambling enterprise gambling in Chicago would certainly make it impossible for a casino site driver to be effective. " The method which this tax obligation framework was created, it can not be done," Lightfoot said at a Tuesday afternoon news conference. Lightfoot's remarks can be found in feedback to an independent feasibility study appointed by the Illinois Gaming Board. The report ended, as well as Lightfoot concurred, that "video gaming development regulation that allows for a casino site in the City of Chicago is extremely burdensome from a tax and charge point of view" and also likely can not be financed under the framework wants. Under the law, a Chicago gambling enterprise driver would have to pay a $250,000 application charge upfront, a $15 million "reconciliation" cost when the certificate is provided as well as approximately $120 million in gambling placement costs. Financial experts have stated the in advance tax payments installed right into the gambling enterprise law wouldn't allow for an online casino operator to be effective. PRESS OCCASION: Mayor Lightfoot joins participants of press. Listen https://t.co/9M0wJO65fP -- Mayor Lori Lightfoot (@chicagosmayor) August 13, 2019 Lightfoot claimed she was devoted, together with Gov. J.B. Pritzker as well as legal leaders, to set a structure for financing a Chicago casino "that would in fact function." Lightfoot also stressed some positives in the expediency study that would benefit the state as well as the city, including "the extraordinary benefit possibility of a gambling establishment in Chicago that will tower over the earnings that have been created by any other casino in the state by numerous sizes. So getting this right is in everybody's rate of interest-- not simply Chicago. This is something that is mosting likely to produce-- if it's done right-- substantial earnings for the state." Lightfoot on Tuesday likewise announced the outcomes of a first public study, in which Chicagoans were asked to provide their choices for leading priorities for the brand-new gambling enterprise. More than 10,000 residents participated in the survey-- which evaluated the optimal area of ????? a gambling enterprise, whether near or far from midtown, near Lake Michigan or the Indiana state line, near public transport, or where a casino site would be most rewarding. The biggest percentage, at 36 percent, said the excellent location is near downtown. Study participants were likewise asked the most important factors in selecting a site for a casino site, and what features they would love to see developed with an online casino. Restaurants came in first at 58 percent, complied with by theater/live enjoyment at 51 percent, and also a hotel at 41 percent. Reasonably couple of shared passion in a theme park, golf course, or fitness center. Meanwhile, a total of 73 percent of respondents stated raised tax income is one of the most vital advantage of opening a Chicago gambling establishment, followed by enhanced work at 55 percent. Regarding concerns regarding opening a gambling establishment in Chicago, boosted traffic congestion came in initially at 55 percent, adhered to by betting addiction at 47 percent. 5 prospective casino sites were shortlisted previously by the Lightfoot administration-- the previous Michael Reese Health center ??????? site at 31st Road and Home Grove Method; Pershing Roadway and State Street; Roosevelt Road as well as Kostner Opportunity; Harborside at 111th Street as well as the Bishop Ford Freeway; and the previous U.S. Steel website at 80th Road and also the brand-new Lake Coast Drive. The usefulness research attended to the potential of an online casino at each of those places. However Lightfoot said in the meantime, repairing the tax issue is more vital than anything to do with the site. She stated all the websites now on the table have been bandied regarding as possible casino sites for years. " There's no place or mix of facilities that makes this bargain one that can in fact get funded," the mayor claimed. "That's exactly the point that we made to the legislative people that were placing this with each other. And currently, I assume we've obtained a definitive, independent judgment that makes that clear."
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