Nov 14, 2008 6:01 pm US/Central
3 Suburbs Chosen As Finalists For Casino License
CHICAGO (CBS) ―
A casino license in Illinois used to be a license to print money. Now, with a much bigger tax bite and increased competition, it's not quite that lucrative, though one finalist for Illinois' 10th and final license is willing to invest more than a half a billion dollars to get its casino up and running.
A new player in Illinois' casino game could well be an old name, CBS 2 Chief Correspondent Jay Levine reports. By a unanimous vote, the gaming board on Friday chose Rosemont and two other locations as finalists from among seven applications for the long-vacant license.
The casinos were proposed from the northern suburbs, down through the O'Hare corridor and into southern Cook County with bids ranging from 100 to more than $400 million.
By choosing Waukegan, Rosemont and Des Plaines though, the board bypassed areas with greater economic need, and that troubled some of its members.
"Employment is a real issue in the southern suburbs so I'm voting for Calumet City as the strongest of the four applicants we had in that area," said Gaming Board member Rev. Eugene Winkler.
South suburban Harvey actually had the third highest bid for the license, despite an economy that's clearly hurt casino gambling.
"This last month I think the figures came out that Illinois is down about 25 percent from last year, so it's significant," said Roger Shiels of the Harvey bid group.
The successful bidders were cautioned by a board mindful of the past Rosemont experience, where a winning bidder ultimately lost the license due to questions about those involved.
"The board will continue to investigate the character, reputation, and integrity of the three finalists and all persons and entities associated with their proposed gaming operations," said Gaming Board administrator Mark Ostrowski.
Among the principals of finalist Waukegan's bid is longtime developer and casino operator Richard Stein. His partner in past deals is William Cellini, who was allegedly involved in an extortion plot with Tony Rezko.
Asked how that involvement affects the bid, Stein said, "Mr. Duffy is the spokesperson for this team."
Duffy said there were no issues relating to Stein's past relationship with Cellini of which he was aware.
The other two successful bidders, from Des Plains and Rosemont are keeping a very low profile. But Rosemont Mayor Brad Stephens said he's thrilled his village is back in the hunt.
The three finalists will make the public presentations in two weeks. The Board hopes to make a final decision before the end of the year.
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