12-22-2008, 02:14 PM
Des Plaines got the license.
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So, Mayor Hyde and Senator Link...what's "Plan B" for Fountain Square?
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Quote:Des Plaines wins 10th casino license
By Rob Olmstead | Daily Herald Staff
Published: 12/22/2008 11:52 AM
The Illinois Gaming Board today awarded its 10th casino license to Des Plaines, after a more-than decadelong legal battle that kept the license dormant.
The selection gives the near Northwest suburbs their first casino. The closest other gaming site is in Elgin, and is currently the state's biggest tax-earning casino.
The city's win comes after officials sweetened their bid. In the last round of public bidding, Rosemont led in terms of dollars, with the company seeking the casino, Trilliant Gaming, offering $435 million up front. Des Plaines' casino-seeker, Midwest Gaming, offered $100 million up front, and Waukegan's bidder had offered $225.
But after those initial public bids, the horse-trading began in earnest with the gaming board behind closed doors. Des Plaines village leaders offered to forego some of their local tax dollar receipts and instead give the money to the state in an effort to land the casino.
The award comes after Rosemont was initially supposed to receive a casino back in 1995. But Illinois Gaming Board investigators derailed that project after it was found that secret Emerald Casino investors had ties to the mob. That touched off a legal battle which culminated in Emerald having its license revoked and ensuing court battles that didn't end until late 2007.
During the fight, Illinois Attorney General Lisa Madigan alleged that Rosemont and its late mayor, Don Stephens, both appeared to have links to organized crime. Stephens went to his grave in April 2007 denying the charges, but Madigan continued to express reservations about Rosemont even after the town again made the final three in this latest license auction.
So, Mayor Hyde and Senator Link...what's "Plan B" for Fountain Square?