Sports facility legislation favorably moved from committee, enabling sports betting in Chicago venues.
Sports Betting Tussle in Chicago Gains Momentum
Get ready, Chicago sports fans! Betting on your favorite teams may soon be possible at the city's five stadiums, as an ordinance permitting sports betting cleared a significant hurdle on Monday.
Venturing a leap closer to lifting the home rule ban, Alderman Walter Burnett's ordinance sailed through the Joint Committee for Zoning, Landmarks, and Building Standards and License and Consumer Protection by a hefty 19-7 vote. The ordinance's sponsor, Emma Mitts, announced she would report the legislation to the full Chicago City Council at its Wednesday meeting, where it may even see a full vote at that time.
However, the city could impose a 2% tax on revenue from wagers made both in-person and via mobile apps at licenseholders' venues or within a five-block radius. Some aldermen questioned the potential revenue consequences, citing concerns that sports betting could eat into gaming revenue at a proposed downtown casino.
But what about Jerry Reinsdorf, Tom Ricketts, and Rocky Wirtz – the prized owners of the Chicago Bulls, Cubs, and Blackhawks, respectively? They backed the ordinance wholeheartedly during Monday's session, endeavoring to lever bridging the gap between sports and gaming. But Rush Street Gaming co-founder Neil Bluhm – also a stakeholder in both the White Sox and Bulls – nixed the ordinance once again, voicing similar disputes as last month.
So, why the fuss from Bluhm, who has a hand in two of the five downtown casino proposals hammered out back in 2019? Allowing sports venues to vie for sports betting licenses was among the provisions of the sprawling gaming expansion bill that established Illinois' sports betting law. Now, with the proposed Wintrust Arena meeting the attendance capacity prerequisites for the 2019 bill, it could join the betting fray.
Things may heat up further as Rush Street and Bally's present their downtown casino proposals this week. Sparks have flown between Bluhm and Bally's, and the ballyhoo could reach a fever pitch as the ordinance process marches forward.
Looks like we're in for an exciting showdown! Let's hope they hash out their differences before it's lights out for Chicago's gaming industry. Stay tuned for more updates!
Insights:- Sports betting in Illinois: Legal since June 2019.- New budget and taxes: Introduced in 2026, featuring a per-bet tax and progressive tax rate for sportsbooks.- Downtown casino: Chicago may soon see a casino downtown, with potential revenue for police and fire pensions. However, aldermen question the impact this may have on projected revenue and the enforcement of vendor contracts for minority, women, veterans, and disability-based enterprises.
Chicago sports fans might soon have the opportunity to place a wager or stake on their favorite teams, as the sports-betting ordinance advances towards a full City Council vote. Neil Bluhm, a key stakeholder in sports and gaming, continues to express reservations, potentially setting the stage for tense negotiations between Rush Street Gaming, Bally's, and other interested parties, as they propose their plans for sports betting and a potential downtown casino.
