Officials worry about new casino
With the news that a new casino will come to Des Plaines, Kane County officials are waiting to see how it might affect riverboat grant revenues that come from Elgin casino profits.
The Illinois Gaming Board voted Monday to accept a bid from Midwest Gaming & Entertainment for a casino in Des Plaines. The license is the state's 10th and final to be awarded and has been unused for years.
Midwest Gaming and the Des Plaines location was chosen over two other proposals – one in Rosemont and the other in Waukegan.
The Kane County Board, along with officials from the Grand Victoria Casino in Elgin, have said a casino in Des Plaines or Rosemont could drastically affect revenues, and in turn, funds for the Kane County Riverboat Grant Program.
The program uses the Elgin casino's revenues to fund many county programs that target education, the environment and social services. A set percentage of the casino's revenues goes to the program each year, bringing in a total of about $110 million since its inception in 1996.
County Board Chair Karen McConnaughay said Monday that she's concerned, but will have to wait and see the degree of the impact.
She added that should grant funds for the programs diminish, there aren't any clear alternatives to keep the programs running.
"It would be very difficult to find replacement revenues," she said.
Casino spokeswoman Kelly Klopp said no one was available for comment Monday.
But, at last month's meeting, casino officials estimated that a casino in Des Plaines could cut revenues in half.
The concern prompted the Kane County Board to send notice to the Gaming Board, pointing out the potential loss to Kane County.
It could take six months to a year to begin construction of the new casino, and the building period would last about 15 months.
While casinos have agreements with their host municipality to fund grants, the Elgin casino is the only one in the state to also partner with a county, McConnaughay said.
The Associated Press contributed to this report.