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The City of Chicago, like so many units of government today, is struggling to find sufficient revenue to cover the costs of public services. The next Mayor, given deficit predictions, will need to make strategic cuts, find innovative new revenue opportunities, and balance the budget while maintaining core services that the citizens of Chicago expect.
The State Senate recently approved a bill that would allow for a casino in the City of Chicago. While the House did not bring the bill to a vote, I encourage them to pass it this session. Casinos can bring with them new jobs, increased interest in convention and other destination travel, and new revenue streams for the city. To be clear, Illinois already offers gaming whether in the form of lotteries, racetrack betting, or riverboats. Experts, such as a Bill Eadington, Director of the Institute for Gambling and Commercial Gaming at the University of Nevada, Reno, have shown that new casinos do not create new gamblers, per se, and reminds us “the pie is finite.” Many Chicago residents currently travel outside of Chicago and the state into Indiana to visit casinos. We should keep those revenue streams here in the city, and leverage the placement of a casino to stimulate the economy here. That said, if Chicago is going to have a casino, the city should own the license so the city and taxpayers can benefit as much as possible.
There are several factors I will take into account when determining the location of this casino. Among other considerations, I will examine 1) revenue generation, 2) traffic flow, 3) impact on the quality of life in the surrounding community, and 4) potential for economic development and job creation.