Last Illinois Casino License May Be Headed For Rosemont

State ownership of the casino, which would return even more revenue to the cash-strapped state, is a concept that many find desirable.

The mayor of Rosemont, Illinois, has proposed the state's last casino license be directed to his city, as long as some significant legal restrictions are changed in the process. Bradley Stephens is willing to sacrifice the city's share of tax revenue as enticement to state legislators considering his plan.

Stepphens wants to convert the Rosemont Theatre into a state-owned casino, making it the hub of a revitalized shopping and entertainment district. However, he would need lawmakers to direct the Illinois Gaming Board to award the coveted final casino license to Rosemont, as well as forgive provisions limiting the casino to waterfront locations and allowing an increase in gambling positions from 1200 to 2000.

The license is available after years of legal entanglement that developed after it was given to the Emerald Casino, a project pushed by Stephens' father, Donald. Allegations of organized crime involvement became one of many stumbling blocks the Emerald could not overcome.

While some legislators have voiced concern with the idea of interferring with the Gaming Board's normal bidding process, and many other towns are certain to be upset if the chance to acquire the license is preempted, there are intriguing aspects to Stephens' idea that has found appeal at the capitol. State ownership of the casino, which would return even more revenue to the cash-strapped state, is a concept that many find desirable.

There is bound to be heavy opposition to the plan by those who covet the license themselves. Chicago Mayor Richard Daley would like to see the casino within his city limits. Senate President Emil Jones, a Chicago resident, wants the casino on the South Side.

Perhaps the telling point, as is often the case, will be money. A rosemont state casino could earn the state as much as $725 million or more annually. Any other location wishing to have a shot at the license may need to show similar projections, or find itself shut out.