Illinois Gaming License Bidders Down to Three

ILLINOIS – As reported by the Chicago Tribune: "The Illinois Gaming Board on Wednesday winnowed down bidders for the state's final casino license to three finalists seeking to build in Waukegan, Des Plaines and Rosemont, rejecting a controversial proposal that would have led to a state-owned casino.

"Seven firms had been vying to buy the rights to the license now held by the bankrupt Emerald Casino, and the board's action means that two other firms that hoped to build in Rosemont, as well as bidders for casinos in Country Club Hills and Summit, are out of the running.

"…All three finalists bid more than $350 million each, though they will be allowed to sweeten their proposals before a final March 10 auction. The winning bidder is scheduled to be announced March 15.

"… The highest bidder to make the final cut was Harrah's Entertainment, which is working with S-L Partners to build in Waukegan.

"…Another finalist, at $360 million, was Midwest Gaming & Entertainment, headed by developer Neil Bluhm, which wants a Des Plaines casino.

"The third finalist, Biloxi, Miss.-based Isle of Capri Casinos, bid $351 million to develop in Rosemont…"