Illinois casino revenue down $200M since 2012, as Chicago bets on casino – Illinois Policy

The new Bally’s casino could bring in as much as $200 million for the city and the money has been earmarked for first responders’ pensions. But the casino taxes are a pittance compared to the city’s $48 billion in unfunded pension debt.
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Fullbladder
3 years ago

That train has left the station. It’ll be loser from the day it opens it’s doors until the day they close them; and mark my words they will go out of business.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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