Illinois Gov. Pritzker Ready To Build Chicago Casino

• If passed, SB0516 would lower the casino gambling tax rate in Illinois.
• The lower tax rate could help Chicago gain access to a casino.

CHICAGO — There are currently no casinos in Chicago but that could quickly change if a pending bill is approved in Illinois.

With a chance to lower the tax rate on gambling throughout all of Illinois, SB0516 would create an easier path toward a land-based casino launch.

Illinois Governor J.B. Pritzker expressed it best when he would sign the bill into law.

“After decades of attempts to build a Chicago casino, I'm proud that by working together this administration and General Assembly has secured its future and paved a path forward for hundreds of millions of dollars annually to repair our schools, hospitals and higher education buildings across the entire state of Illinois,” said Pritzker. “I look forward to signing this legislation that provides a reliable funding stream to our historic $45 billion Rebuild Illinois capital program— Together, we are creating jobs and rebuilding our state.”

With the passing of SB0516, the current 33.3% casino privilege tax will be replaced.

Instead, a Chicago casino would owe a 23.2% tax to the city of Chicago and a 26.8% tax to the state.

The revised tax on table games at a Chicago casino would range from 15% to 35%.

This revision is down from the 38.5% tax that used to be owed by legal Illinois casinos.

There will also be a revision from 2% down to 1% of tax revenue that will go towards police and firefighter pensions.