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Illinois governor rejects plan to expand state's gambling

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Illinois Gov. Pat Quinn on Tuesday rejected a bill to expand gambling in the state, including a new land-based casino in Chicago, saying the proposal lacked sufficient regulatory oversight.

With two of his predecessors in prison, the Chicago Democrat has made it clear he must preserve his political integrity in the plan, which also proposed establishing four new riverboat casinos and allowing slot machines at racetracks.

The most glaring omission from the bill "is the absence of strict ethical standards and comprehensive regulatory oversight. Illinois should never settle for a gaming bill that includes loopholes for mobsters," Quinn said in a prepared statement.

Supporters of the bill estimated the expansion could have brought in up to $1 billion a year, boost tourism and create 100,000 jobs for the state.

Chicago Mayor Rahm Emanuel supported the establishment of a city casino.

But opponents said more casinos could saturate some markets and raised concerns about the social cost.

The proposal would have established a city-owned Chicago casino with spots for 4,000 people to gamble at once. It also would have added riverboat casinos in Danville, Park City, Rockford and an undecided location in Chicago's south suburbs. Each riverboat casino would have had 1,600 gambling positions, and allowed Illinois' 10 existing casinos to grow.

Expanded gambling in Illinois could put a further hit on Indiana's 20-year-old casino industry, which saw admissions fall to their lowest level in 14 years in 2011.

Earlier attempts at expanding gambling in Illinois have failed. Lawmakers approved a similar plan last year but did not send the plan to the governor, who had threatened a veto.

Quinn, who isn't opposed to gambling on principal, had said all along that he wanted a bill with stronger ethical protections. That includes barring the gambling industry from making political contributions.

"Everybody should be concerned about ethics in our state. We have two governors, my predecessors, both in jail. That's a pretty darn important issue for our state to have integrity at all times in every part of government, and that includes regulating casinos," he said Monday. "It must be airtight when it comes to protecting the public."

In response, lawmakers also filed a so-called trailer bill to address some of Quinn's concerns. However that wouldn't be considered unless the initial law is signed, and Quinn has said he'd rather get all the legislation signed at once.

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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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