{"id":104377,"date":"2019-05-07T14:32:55","date_gmt":"2019-05-07T21:32:55","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=104377"},"modified":"2019-05-07T18:05:50","modified_gmt":"2019-05-08T01:05:50","slug":"illinois-house-speaker-michael-madigan-supports-chicago-casino-project","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/","title":{"rendered":"Illinois House Speaker Michael Madigan Throws Support Behind Proposed Chicago Casino Project"},"content":{"rendered":"

Michael Madigan — the Illinois House Speaker once called “more Machiavellian than Machiavelli” by imprisoned former governor Rod Blagojevich — has announced he’s prepared to support a new casino in Chicago<\/a>, the third-largest US city.<\/p>\n

\"\"
Illinois House Speaker Michael Madigan supports the idea of a Chicago casino to help balance the state budget, joining outgoing Chicago Mayor Rahm Emanuel in doing so. (Image: Nancy Stone\/Chicago Tribune<\/figcaption><\/figure>\n

Madigan said the idea of a casino in Chicago could go two ways. \u201cIt can be city-owned, or it can be like the other [privately held] casinos,\u201d he told The State Journal-Register. \u201cThat\u2019s something that would be resolved here in the legislature.\u201d<\/p>\n

The speaker echoes sentiments expressed in December by now-outgoing Chicago Mayor Rahm Emanuel, who will be replaced with Mayor-elect Lori Lightfoot on May 26.<\/p>\n

Searching For Cash<\/h2>\n

Cash-strapped Illinois is considering several measures to generate revenue in an effort to bolster state coffers, including legalizing recreational marijuana<\/a> use. Gov. J.B. Pritzker estimates the Prairie State is facing a budget shortfall of more than $3 billion in its next fiscal year. His office also calculates a backlog of $15 billion of unpaid debt for Illinois.<\/p>\n

\n

Earlier this year, multiple proposals were filed by Illinois lawmakers to make the state the first in the Midwest to legalize sports betting. A proposal filed in March <\/a>would allow Illinois racetracks and riverboat casinos to offer sports betting after operators pay a $10 million licensing fee. <\/span><\/p>\n

That proposal, if it becomes law, would collect 15 percent of gross adjusted receipts from physical sportsbook locations and 20 percent of gross adjusted receipts from online applications.<\/span><\/p>\n<\/div>\n

Currently, Illinois is home to 10 riverboat and brick-and-mortar casinos. In April, the state’s casinos had adjusted gross receipts of $114.76 million on a combined basis, according to the Illinois Gaming Board (IGB).<\/p>\n

Last month, Illinois riverboat casinos attracted more than 837,000 visitors with more than a quarter going to the Rivers Casino in Des Plaines.<\/p>\n

Sporting Directions<\/h2>\n

As is the case with issue of a new Chicago casino, Madigan sees the sports betting issue potentially going in multiple directions.<\/p>\n

\u201cYou can go in one of two directions; you could have a sports betting bill that only deals with sports betting, or you can have one that deals with sports betting plus the other issues,\u201d reports The Courier.<\/p>\n

Madigan’s support for a new Chicago casino is pivotal. The Chicago Democrat is one of the most powerful politicians in Illinois and has been speaker of the Illinois House Representatives for all but two years since 1983, making him the longest-serving leader of any federal or state legislative body in U.S. history.<\/strong><\/p>\n

Previous legislative efforts by the Illinois senate to open more casinos in the state were quashed by Madigan, but the speaker’s change of heart on the issue coupled with a new mayor in Chicago could open the door to casino expansion around the Windy City.<\/p>\n

Several of the states bordering Illinois — including Indiana, Michigan, and Missouri — have casinos, and some politicians in the state estimate it loses over $1 billion in entertainment revenue annually because gamblers there frequently visit casinos in neighboring locales.<\/p>\n

Pot O’ Gold?<\/h2>\n

In addition to mulling sports betting and the possibilities of a new Chicago casino, Illinois lawmakers are also considering legislation to legalize recreational cannabis to generate more revenue.<\/p>\n

While many of the states that have legalize recreational marijuana, such as California, Oregon and Washington, are \u201cdeep blue\u201d states like Illinois, Madigan told local reporters in Illinois that the issue of legalizing marijuana there could be controversial and currently lacks universal support among the state’s elected Democrats.<\/p>\n","protected":false},"excerpt":{"rendered":"

Michael Madigan — the Illinois House Speaker once called “more Machiavellian than Machiavelli” by imprisoned former governor Rod Blagojevich — has announced he’s prepared to support a new casino in Chicago, the third-largest US city. Madigan said the idea of a casino in Chicago could go two ways. \u201cIt can be city-owned, or it can […]<\/p>\n","protected":false},"author":46,"featured_media":104386,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18,61],"tags":[],"acf":[],"yoast_head":"\nIllinois House Speaker Michael Madigan Throws Support Behind Proposed Chicago Casino Project - Casino.org Illinois House Speaker Michael Madigan Supports Chicago Casino Project<\/title>\n<meta name=\"description\" content=\"Michael Madigan -- the Illinois House Speaker once called "more Machiavellian than Machiavelli" by imprisoned former governor Rod Blagojevich -- has Illinois speaker and powerful Democratic pol Michael Madigan is speaking up in support of a land-based Chicago casino to join 10 brick-and-mortar and riverboat gaming venues already in the Prairie State.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Illinois House Speaker Michael Madigan Throws Support Behind Proposed Chicago Casino Project - Casino.org Illinois House Speaker Michael Madigan Supports Chicago Casino Project\" \/>\n<meta property=\"og:description\" content=\"Michael Madigan -- the Illinois House Speaker once called "more Machiavellian than Machiavelli" by imprisoned former governor Rod Blagojevich -- has Illinois speaker and powerful Democratic pol Michael Madigan is speaking up in support of a land-based Chicago casino to join 10 brick-and-mortar and riverboat gaming venues already in the Prairie State.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2019-05-07T21:32:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2019-05-08T01:05:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/Michael-Madigan-Illinois-House-Speaker-Chicago-casino.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"1000\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/\",\"url\":\"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/\",\"name\":\"Illinois House Speaker Michael Madigan Throws Support Behind Proposed Chicago Casino Project - Casino.org Illinois House Speaker Michael Madigan Supports Chicago Casino Project\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/Michael-Madigan-Illinois-House-Speaker-Chicago-casino.jpeg\",\"datePublished\":\"2019-05-07T21:32:55+00:00\",\"dateModified\":\"2019-05-08T01:05:50+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Michael Madigan -- the Illinois House Speaker once called \\\"more Machiavellian than Machiavelli\\\" by imprisoned former governor Rod Blagojevich -- has Illinois speaker and powerful Democratic pol Michael Madigan is speaking up in support of a land-based Chicago casino to join 10 brick-and-mortar and riverboat gaming venues already in the Prairie State.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/Michael-Madigan-Illinois-House-Speaker-Chicago-casino.jpeg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/Michael-Madigan-Illinois-House-Speaker-Chicago-casino.jpeg\",\"width\":1500,\"height\":1000,\"caption\":\"(Image: Nancy Stone\/Chicago Tribune\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Politics\",\"item\":\"https:\/\/www.casino.org\/news\/politics\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Illinois House Speaker Michael Madigan Throws Support Behind Proposed Chicago Casino Project\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Illinois House Speaker Michael Madigan Throws Support Behind Proposed Chicago Casino Project - Casino.org Illinois House Speaker Michael Madigan Supports Chicago Casino Project","description":"Michael Madigan -- the Illinois House Speaker once called \"more Machiavellian than Machiavelli\" by imprisoned former governor Rod Blagojevich -- has Illinois speaker and powerful Democratic pol Michael Madigan is speaking up in support of a land-based Chicago casino to join 10 brick-and-mortar and riverboat gaming venues already in the Prairie State.","robots":{"index":"noindex","follow":"follow"},"og_locale":"en_US","og_type":"article","og_title":"Illinois House Speaker Michael Madigan Throws Support Behind Proposed Chicago Casino Project - Casino.org Illinois House Speaker Michael Madigan Supports Chicago Casino Project","og_description":"Michael Madigan -- the Illinois House Speaker once called \"more Machiavellian than Machiavelli\" by imprisoned former governor Rod Blagojevich -- has Illinois speaker and powerful Democratic pol Michael Madigan is speaking up in support of a land-based Chicago casino to join 10 brick-and-mortar and riverboat gaming venues already in the Prairie State.","og_url":"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2019-05-07T21:32:55+00:00","article_modified_time":"2019-05-08T01:05:50+00:00","og_image":[{"width":1500,"height":1000,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/Michael-Madigan-Illinois-House-Speaker-Chicago-casino.jpeg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/","url":"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/","name":"Illinois House Speaker Michael Madigan Throws Support Behind Proposed Chicago Casino Project - Casino.org Illinois House Speaker Michael Madigan Supports Chicago Casino Project","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/Michael-Madigan-Illinois-House-Speaker-Chicago-casino.jpeg","datePublished":"2019-05-07T21:32:55+00:00","dateModified":"2019-05-08T01:05:50+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Michael Madigan -- the Illinois House Speaker once called \"more Machiavellian than Machiavelli\" by imprisoned former governor Rod Blagojevich -- has Illinois speaker and powerful Democratic pol Michael Madigan is speaking up in support of a land-based Chicago casino to join 10 brick-and-mortar and riverboat gaming venues already in the Prairie State.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/Michael-Madigan-Illinois-House-Speaker-Chicago-casino.jpeg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2019\/05\/Michael-Madigan-Illinois-House-Speaker-Chicago-casino.jpeg","width":1500,"height":1000,"caption":"(Image: Nancy Stone\/Chicago Tribune"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/illinois-house-speaker-michael-madigan-supports-chicago-casino-project\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Politics","item":"https:\/\/www.casino.org\/news\/politics\/"},{"@type":"ListItem","position":3,"name":"Illinois House Speaker Michael Madigan Throws Support Behind Proposed Chicago Casino Project"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/104377"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=104377"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/104377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/104386"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=104377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=104377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=104377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}