Online casino gaming is not legal in Illinois. What’s the holdup and are the prospects good for eventual legalization?
This is a topic that periodically arises in the Illinois Legislature, yet never seems to get anywhere. We asked igaming’s primary sponsor in the state capital, but all we got in response was an uninformative hot blast of self-serving verbiage.
Close to despair, we turned to political pundit Brendan Bussmann, who advises Truist Securities on legislative issues. He responded thusly.
“Igaming in Illinois isn't a matter of if, but when. When they do it, it will likely be taxed too much and not done in a market-driven way. Illinois continually proves that they've never been able to maximize the gaming market and depends on a golden goose to produce more and more.
“You have numerous stakeholders in the Illinois gaming fight: the casinos, the slot route operators, and the sports betting operators. None of those stakeholders see eye to eye on igaming, let alone on the existing product in the market.
“A number of challenges will have to be resolved in some way in this continued slugfest among stakeholders. The video-lottery-terminal operators don't want igaming and would want [slot] machines in Chicago first.
“A Chicago casino currently is underperforming and may never see its permanent facility while sports betting operators have zero standing with the governor. No one is grabbing a Coke and teaching the world to sing in legislative harmony.”
Thank you, Mr. Bussmann. It’s not the most encouraging outlook for the Land of Lincoln. Budgetary necessities will probably force the issue at some near-term point. But we can’t dispute Bussmann’s less-than-rosy forecast.
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