Casino Royale

Should Chicago roll the dice on a city casino?

05/25/2011 10:00 PM

Editorial

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Chicago’s pretty near broke. No one’s contesting that anymore.

After several years of tricks and trades, the city has exhausted just about all the options it has for one-time, short-term revenue fixes — selling the parking meters, selling the Skyway, etc.

The time has come for a serious discussion of what actually needs to be cut in this city. It’s not an easy conversation but it’s one that Mayor Rahm Emanuel seems ready and willing to tackle, thankfully.

There is one last gimmick though, that could very well be worth trying: a Chicago casino.

It’s better than the one-time fixes of the past: the city could be in a situation to take in up to 30 percent of the revenue the casino brings in forever. It’s a serious revenue generator that seems like it’s ready for prime time.

In recent years, Hammond’s Horseshoe Casino seems to have gotten bigger and bigger, drawing big-name entertainers and hosting events with Chicago’s athletes. That’s bringing Chicagoans to our eastern neighbors, where they’re surely spending money.

We do worry about the socioeconomic impacts of gambling. While the occasional poker or blackjack game may not hurt the pocketbooks of many people, most often the people that spend the most money on gambling are those who can least afford it. That’s called a regressive tax, and it’s a bad thing.

But we agree with Ald. Bob Fioretti and Emanuel that if people are going to be gambling anyway, they might as well do it in a place that we get to grab the revenue and not Indiana (much as we love those dunes).

If the casino is indeed government controlled, though, it needs to have some very restrictive measures in place to prevent problem gambling, including a new agency devoted to helping people get rid of their gambling problems.

Oh, and the old post office building over Congress? That’s the perfect spot for it.

Hit us, Chicago.



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