auctioning IL casino licenses

[CLOCKERTERRY]

Today's Chicago Tribune has a speculation about the action taken by the IL House to end casino gambling. The paper speculates the REAL idea is that Madigan wants to get some taxpayer value out of the casino licenses that were given away for $25,000 back at the beginning and are now worth half a billion. Maybe by auctioning them off to the highest bidder at renewal time.

Though I can't see a license being worth $1/2 billion every four years, and there's the potential for a host of "takings" lawsuits from current owners

But ANYHOO, this doesn't bode particularly well for state legislators being in the mood to hand out below-market gaming licenses to other parties in the future, like maybe racetracks.

http://www.chicagotribune.com/news/opinion/chi-0511030297nov03,1,1047255.story?ctrack=1&cset=true 

Here's also another story about the issues.

http://www.pjstar.com/stories/110305/REG_B816NO4P.050.shtml

[Dan Nance]

Hi Terry, I'm back.

       The licenses will be auctioned off to the large casino owners to build hotel/casinos in downtown Chicago on the lakefront. Mark my words pal.

[nwaryas]

If casinos end in Illinois are property taxes will rise sky high and most of will become homeless like John Frank.

[First Samurai]

john frank will never be homeless... he has too many friends... (edited)

[CLOCKERTERRY]

The licenses will be auctioned off to the large casino owners to build hotel/casinos in downtown Chicago on the lakefront. Mark my words pal.

You are probably right. But as I said before, I really don't see what it matters who owns the licenses and where the casinos are located, so I'm not sure what it is you are predicting, or why.

[Dan Nance]

You are probably right. But as I said before, I really don't see what it matters who owns the licenses and where the casinos are located, so I'm not sure what it is you are predicting, or why.

Because everyone was saying that Daley will never get his downtown casino. Now they are trying to close down the boats.

    People are blind as bats if they can't see what's going on.

[CLOCKERTERRY]

Because everyone was saying that Daley will never get his downtown casino. Now they are trying to close down the boats.

    People are blind as bats if they can't see what's going on.

I don't know what everyone you are talking about Dan but it wasn't on this forum.