Emanuel said a casino would 'energize'' Chicago's economy and create between 7,000 to 10,000 jobs.

The Democratic governor has said he is open to a casino in Chicago but opposes four other casinos.Ĭhicago Mayor Rahm Emanuel said he is pleased the Illinois Senate approved legislation that will allow for a casino in the city. He said the revenue estimate is unrealistic because it assumes that current casinos, with 1,200 gambling slots apiece, will all add the 400 spots the legislation allows. Tom Swoik of the Illinois Casino Gaming Association said existing casinos would lose up to 30 percent of their revenue. He said all would the money would go toward 'paying off old debts.'Ĭontinuing new revenue would be $500 million or more annually, including tens of millions of dollars more for schools. The measure would bring in $1.6 billion in upfront licensing fees and other payments from new casino owners, according to State Senator Terry Link (D-Waukegan). The idea is crucial to Illinois, which has up to $8 billion in unpaid bills, and to the Senate, which rejected a $6 billion plan Sunday to borrow money to cover the obligation, proponents say. The goal of the legislation is to lure gamblers back from other states and raise revenue Illinois. The measure would also add slots at existing casinos and allow horse racing tracks to have them for the first time in what would be the largest growth in legalized wagering since its introduction in Illinois two decades ago. The others would go to Chicago, Rockford, Lake County and somewhere in the south suburbs. The Illinois Senate voted 30-27 Tuesday to approve five new casinos, including one in Danville.

(With additional reporting from The Associated Press)

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