How much can Chicago tax a casino and still get one? – Crain’s

Hardly anyone believes a casino operator would pay an effective tax rate of 72 percent to operate a Chicago casino. But how high could the rate be and still attract bidders?

It's a fair question after a financial analysis released Aug. 13 by the Illinois Gaming Board suggested that the much-anticipated gambling house could be dead on arrival because of "onerous" taxes on the facility imposed by state lawmakers—new taxes that would be so high as to make it impossible to finance the project. The consultancy hired by the Lightfoot administration to analyze five potential sites for the casino found that the tax rate for the casino operator would amount to about 72 percent of the gross, not counting certain operating expenses.

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE