In Illinois, Senate Bill 7, one of the 10 parts of the so-called “grand bargain” budget deal, passed the Senate in a 31-26 vote last month, but recently stalled in the legislature, which will adjourn May 31. Each bill in the legislative package must pass or none will pass. The package is intended to end a two-year state budget impasse. In addition to gaming expansion, it includes an income tax increase, a property tax freeze, workers’ compensation reform, and minor pension and procurement reforms.
The House has since moved forward with an $817 million stopgap plan.
Lawmakers also have considered sending a stand-alone casino bill to Governor Bruce Rauner.
The casino provision would authorize casinos in Rockford, Danville and Chicago plus locations in Cook, Lake and Williamson counties. It also would allow slots at four horse racetracks and Chicago airports.
One of the co-sponsors of the bill is state Senator Dave Syverson of Rockford, where a group of investors led by Ringland-Johnson Construction Chief Executive Officer Brent Johnson wants to buy the shuttered Clock Tower Resort & Conference Center and tear it down to build a casino-hotel—if the “grand bargain” or stand-alone legislation passes and Rockford is approved for a gambling license.
Syverson said he and Johnson have discussed the possibility of a Rockford casino.
“Maybe a month ago he asked me about the likelihood of the gaming bill passing and he mentioned he was talking to some people who thought the Clock Tower would be a better place for a casino than somewhere up on Riverside Boulevard. And I told him I thought that would be a good idea because I don’t know of any other way that you’re going to save the Clock Tower hotel. If not for a casino, who’s going to have the money to tear most of that hotel property down and do something with it?” Syverson said.
Johnson said the investor group had spent two years working on obtaining a casino license and developing a casino, hotel and retail complex along or near Interstate 90 in the Rockford area. Under Illinois law, a casino must pay a flat $100,000 fee and $30,000 per gambling station, resulting in a half-billion-dollar investment for a gambling license.
