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Lawmakers Remove Hurdle to Financing a Chicago Casino

In a special session that also saw passage of a state budget, the Illinois Legislature voted over Memorial Day weekend to change the tax structure for a proposed Chicago casino. Mayor Lori Lightfoot began pushing for the change last year after a study showed that the Chicago casino’s higher tax structure would make it difficult to attract investors.

Along with changing the tax structure, the legislation would extend from two to six years the amount of time casino’s owners would have to make a reconciliation payment. It also extends the deadline for paying gaming fees.

Lightfoot said passage of the bill “makes the possibility of a financially viable Chicago casino a reality. This moment is decades in the making, and represents a critical step toward shoring up our city’s pension obligations, as well as driving huge levels of infrastructure funding and fueling thousands of new jobs for all of Illinois.”


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).