A new bill proposed in the state of Illinois offers a possible change of location for underperforming casinos.
The tabled legislation, House Bill 4070, is seeking to enhance money-making opportunities for already licensed entertainment locations in the state. Supporters of the new bill have expressed their hopes that the relocation of these casinos could draw in more visitors and add to the state’s revenue through taxation.
House Bill 4070 offers casinos possible relocation
The bill has been proposed by Rep. Joe Sosnowski, who has been repeatedly attempting to generate support for a bill that would allow the seventeen casinos in the state a league table of the best and worst performing entertainment locations.
According to the summary of the legislation, this would allow Illinois to “relocate the 3 lowest performing casinos based on the report, in which a municipality or county may submit a proposal requesting the authorization to host one of the 3 lowest performing casinos’ license within the municipality or county.
Provides that each owner or operator of a casino license subject to relocation has the right to relocate the casino to a new location as determined by the request for proposals process, and the relocation shall be completed no more than 5 years after the conclusion of the request for proposals process and selection of a new location.”
Sosnowski believes that if a location is faltering or failing to meet projections, then it could relocate elsewhere within the state’s confines.
He said, “If we have 100 jobs in an underperforming casino location and we can shift those to an overperforming location, you know, we could triple the number of jobs and people that are employed.”
The Senator also stated to WIFR that the revision of current legislation would be good for the new location’s job market, and the previous location would be given financial reimbursement if a location were to move elsewhere.
“Not only will the prior location receive their funds,” Sosnowski shares, “but a new location is more than likely going to have a lot more revenue sharing available for local governments.”
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