Proposing the authorization of land casinos in Chicago, Rockford, Danville, Chicago's south suburbs and Lake County, the bill will make provision for interstate compacts permitting agreements with other gaming entities, including foreign ones.
It would also authorize 1,200 new slot machines in Cook County and another 900 outside that county, and the operator of a Chicago casino could apply for up to 4,000 slot machines to be located at Midway and O'Hare airports.
The measure would allow current and future land casino licensees to apply for an intrastate online gambling license provided that their servers are based within state borders. It would allow people in Illinois to play poker and black jack over the Internet, but sports betting would be specifically excluded.
As for the online profits, they would be split: $10 million going toward treatment programs for problem gamblers, $5 million to the State Fairgrounds and the remainder to the state's public pension systems.
State Division for Internet Gaming would be responsible for licensing and regulation - applicants would be required to ante up $250,000 as a non-refundable application fee for five-year valid licenses.
A tax rate of 20 percent of GGR is proposed with a lower rate of 15 percent on poker rake for online poker operators, and successful applicants would be required to deposit $20 million with the state to ensure tax compliance.
Tax payable on the initial five year period of a license for casino games is 10 percent on the first $200 million in GGR, rising to 20 percent on revenues exceeding that number, while online poker licensees will pay 7.5 percent on GGR below $200 million in the first five years, rising to the standard 15 percent above that amount.
Link said that the gambling expansion from brick-and-mortar casinos could generate between $400 million and $1 billion for the state. The bulk of the money would be allocated to the state's Education Assistance Fund, after the local communities receive a share of the profits.
The first $50 million from application and licensing fees, as well as the per-slot machine fee, would go to the Illinois Gaming Board, as the remainder might cover part of the state's debts, currently at around $9 billion.
In the event of legalization, with its 13 million residents, Illinois could be a prime target for other states, including Pennsylvania, wishing to build a bigger player pool.
All News Categories
- General Gambling News (6876)
- Gambling Law & Society News (3451)
- Casino Games (3080)
- Casino Software (2922)
- Land Based Casino News (460)
- Promotions & Bonuses (304)
- Casino Banking (200)
- Casino Tournaments (111)
- General Poker News (53)
- General Sportsbook News (41)
- General Bingo News (38)
- LCB News (36)
- LCB Approved Casinos (21)
- Casino Warnings (18)
- Bingo Software (11)
- Bingo Games (9)
- Predatory Terms (6)
- Online Poker Tournaments (5)
Most Viewed ArticlesSee all
Live activity feed
"Voucher Unfortunately you are not able to activate this voucher. The voucher is only accessable for players who personally received the Promotion e-mail. Voucher code: RED251016 Submit im depositor and im subscribed to newsletter. no probs before, now they seem to have gotten a bit shady."READ
"Oshi Casino - Paranormal Activity this Halloween!Promotion dates: 26th October – 2nd November In this promotion, players can either put their brave faces on by picking FEAR and play spine-chilling slots or be the wiser one and enjoy the witty games. FUNFor those wise souls who would prefer to stay away from the woods after dark, the fun games are on offer! Play Spooky Family and The Best Witch and collect points for every €25 wagered to bag these prizes: 1st prize €7502nd prize €5003rd prize €2504th prize €2005th prize €100 FEARAs night falls, feel the fear build… Are you brave enough to venture into the trembling race after dark? Come and play Paranormal Activity and Hansel & Gretel and collect points for every €50 wagered to bag these prizes: 1st prize €10002nd prize €7503rd prize €5004th Prize €2505th Prize €200 Excluded Countries: GB, US, FR, PF, AF, AG, BE, CU, IR, IQ, IL, LI, SD, SY, MO, AN, LU, LY"READ
"The best Halloween calendar is on IKIBU Casino! Halloween is around the corner! They are giving away 19.000 seeds per player!By depositing a minimum of 20€ (and equivalent) players will earn:Monday: 2000 seeds!Tuesday: 2000 seeds!Wednesday: 2000 seeds!Thursday: 3000 seeds!Friday: 3000 seeds!Saturday: 3500 seeds!Sunday: 3500 seeds!Then on Monday 31st we'll finish with a 50% reload up to 100€ (and equivalent in other currencies). "READ
lcb activities in the last 24 hours
- new members
- members online
- guests online
- new posts
- free games played