City of Chicago plans 2% tax on sports betting

City of Chicago plans 2% tax on sports betting

Article brief provided by Chicago Sun-Times
  • Fran Spielman, Chicago Sun-Times
December 6, 2021 11:14 PM
  • Fran Spielman, Chicago Sun-Times

Chicago would impose its own 2% on gross revenues from sports betting — bringing the total tax collected in the city to 19% — under a revised ordinance poised for City Council approval this week, a move that did nothing to appease casino magnate Neil Bluhm.

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[Mayor Lori] Lightfoot has argued there is no hard evidence allowing sportsbooks in and around five city stadiums would “cannibalize” revenue from a Chicago casino.

That’s the scenario outlined by Bluhm, whose Rush Street Gaming company is part of two separate groups vying to build a Chicago casino. Bluhm’s Rivers Casino in Des Plaines already has a sportsbook that stands to lose business if sports betting is legalized in Chicago.