Northwest Indiana Discussion

Chicago's new Mayor wants a Gamblig Casino. He wants it fast and he probably will get it. The present plans are to use the old portion of MaCormick Place. Experts Thursday met and they claim with the go ahead, they could be up and running in 120 days. Where does that leave Indiana and the towns and cities that have depended on that gambling revenue? They can kiss it good bye. Let's see how those financial Guru's handle this one.
By the way, I might mention, that meeting just ended a few hours ago.

Interesting question, more dependent than ever on casino gaming, with even less accountability for it's use.

next years property tax revenue is going to be about 45 to 50% less than this year.

Numerous times in the past, I have been privelidged to inside details effecting our area. Most of the time, these details have been ignored or just marked them as rumors. Then when the shoe falls, so to say, not one time have I been told I was correct. In the meantime had certain officials acted in the first place, these difficult conditions could have been avoided. This area depends on the gambling boats, can't you see the taxes going up? Our political "hot dogs" with their genius talent are going to have to be able to pull the rabbit out of the hat or we are in big trouble. I can see the rush of cosultants rushing for the rescue. Until we change the entire manufacturing and business community back to what it was in the past, we are dead in the water. I am predicting this outcome with the loss of the Boats. It's so sad that we have to depend on outsiders to control the region lifestyle. Meaning the boat operaters. Very few residents in the Lake and Porter County area have contributed to the advancement of the area, you probably could count them on your fingers. There is a very good indication we can't depend on our political leaders that continue to play musical chairs at our expense, to save the area. They know how to conduct projects that involves spending big amounts of money, not one has come forward with a good plan for immediate action. I have been told our Political leaders have a IQ of 180. That's the total for all of them combined.

I was talking to a friend the other day about politics.... the conversation drifted to a politician vs statesman.

We have too few statesmen in NWI.

July 11th the Chicago DesPlaines casino will be opening. It is just a matter of time before a cash strapped Chicago gets the go ahead for a Mieggs field casino.

Consultants are part of that problematic cycle.

Tommy,

The Des Plaines Casino is a Casino license that has been in limbo for more than 10 years now. There are NO more casino licenses in Illinois, just as there are none left in Indiana. The state legislature would have to create more licenses in order to expand gaming. Something the existing casinos spend a huge amount of money lobbying against.

In addition, Daley has spent 20 years trying to bring a casino to Chicago without success. Why do you believe that Rahm is going to be able to snap his fingers and bring a casino to Chicago? Downstate and Suburban Democrats AND Republicans hate the politicians in the City of Chicago as much as most of Indiana hates NW Indiana. They haven't gone for it in 20 years ..it's not going to happen now.

The gaming industry is in severe decline and many companies have gone bankrupt. I have no doubt that they would love a casino in Chicago, but I can't see any of them being able to pay the vig that the State of Illinois and Chicago would demand for a license.

well reasoned, hope ur right. Still, i'm not convinced downtown Chicago isn't the best place for a casino. As u point out, all we have is resistance from existing casinos. all too often this sort of thing has a tendency to dissolve.

new chicago administration, deep very deep holes in their pockets, the Illinois State Tax increases took what ever taxable option away from chicago, their only way out is gaming.... Hammond, E. Chicago & Gary are the blue prints on how to steal money.

Only the City doesn't decide on the casino license expansion. The State does. The City has not been able to get gambling expanded under 2 straight Democratic Governors with the Daley Machine and Clout. Rahm is a nobody when it comes to building a political machine yet.

The state legislature wants to force austerity on Chicago the same way Indianapolis does on NW Indiana. They are going to do no favors for the city of Chicago. The last go around ...those pushing gambling expansion were looking for 7 additional casino licenses. It's never going to happen.

And just what Casino company is going to invest in a Casino in Chicago and operate it? Name who you think the Casino operator is going to be .....

Tommy,

A much bigger concern should be whether Horseshoe (Harrahs ..or rather now Caesars Entertainment) is going to wind up filing for bankruptcy in 2013 ..... and how Hammond is going to weather the storm if it does.

Harrahs almost wound up filing for bankruptcy protection in 2009, during the financial crisis, due to their debt load. With credit markets frozen they were certainly unable to refinance their excessive debt. Creditors extended those bonds until 2013, but Harrahs also has debt maturities coming due in January 2014 and multiple ones in 2015. It is unclear whether the credit markets are going to be able to support almost $5 Billion in debt that needs to be rolled over.

IF ....Caesars has to file for bankruptcy, they will probably have to shed some properties and even in a best case scenario will have some payments delayed by the bankruptcy process.

That is a FAR bigger worry than any Chicago casino that probably will not happen anytime soon.

Mark my words. Chicago will get a casino fast. For years Daley turned down the idea. Now Gov. Quinn is for Chicago getting a license. Rahm wants the city to own it, outright. It won't go to northerly Island if they can help it. I wouldn't be surprised if Meiggs Fields would be rebuilt in the future. The present plans are for the use of the old part of Mc Cormack Place. Ideal spot. build up that convention business that they lost by the high charges the unions demanded and then put the old Eire Crown theatre back to full operation and you have everything it takes. Like I said, planners are at work presently and they said they could be in full operation 120 days after obtaining that license. As some posters pointed out. The Indiana Casino's are getting into bad shape at present. Are our city fathers prepared for the cut in money if this happens?

newsflash, forgot about the old US Steel Southworks site. Roads and some infra structure is already in place.

The southworks site would definately put a ding in the pocket book, access would be an issue, but then again, thousands of jobs would be created...

and

as you have stated, Raum and Quin are both in favor of the casino... big state and city budget holes....

Along with Matt's information, Jr just might look for another line of work come 2013.

Someone in his office has already said he is lookin at Pete's job.

What Rahm wants, Rahm gets.

You know for someone that has decent sources, you border on the edge of ignorance. Like most in Northwest Indiana, you have absolutely no concept of what is going on in the world around you. The world is a much bigger place than NW Indiana or the Chicago metropolitan area and you don't seem to have a clue about it.



Daley has been pushing for a Casino in Chicago all the way back to 1992. He has been shut down by the Illinois State Legislature for more almost 20 years. The last go around, there were members of the legislature interested only because they wanted to bring gambling to their cash strapped regions as well. They were talking 7 new gambling licenses, that would oversaturate the market and kill the profitability for all. Daley did want Chicago to own the casino. That was attempted by both New Orleans and Detroit, with both being total failures and resulted in the casinos closing. At one time Daley was looking for a $750 Million payout from casinos for the right to run the Chicago owned casino. In this economic climate almost every casino company is in deep financial trouble. Again who is going to invest to run and operate the Chicago casino?



Coming back like it was in the past? Pipe dreams of something that will never be. NW Indiana can stake a place out in the new economy, but it is going to take major fundamental changes that no political leader here is willing to make. Until we are willing to adapt to new high tech manufacturing and innovation and actually have workers that are prepared for those jobs, we are dead in the water. The old world manufacturing with unskilled labor is about as dead as it can be ...... that's just old people as yourself waxing sentimental about the good old days that are never coming back.

Daley wanted ownership, but to bid out management of the casino. At the time he was looking outsource management to other casinos. He wanted whatever "partner" to pay the $800 licensing fee to the state with a proposed 50 / 50 split of the profits between the city and the managing casino operator.

In addition, government owned casinos have never been a success. Detroit and New Orleans both tried, and both casinos are shuttered and closed while other casinos thrive nearby.

So come back to me when you are smart enough to learn the true facts .......before you post things you apparently don't know the full story of.

http://www.beachwoodreporter.com/politics/daleys_casino_royale.php



http://www.rrstar.com/news/x1302703509