Casino proposal may go before Des Plaines plan commission in 6 months
Des Plaines residents itching to play the slots must wait a year for construction to start on the city's first casino.
The proposal, aimed for more than 20 acres fronting the Tri-State Tollway and River Road, could go before the city plan commission in six months, a Midwest Gaming & Entertainment spokesman told city officials this week.
The total project cost is $1 billion, which includes two hotels and retail.
However, the Illinois Gaming Board won't likely complete its ongoing investigation into the finances, connections and dealings of the Chicago-based developer for another 12 months, officials said.
Des Plaines was partly chosen over Rosemont and Waukegan to receive the state's 10th and final casino license because its reputation and that of the developer weren't tainted.
The gaming board investigation involves background checks of existing and potential managers and key players with Midwest Gaming and the future casino. The company can't start building until it meets the "suitability" test.
"There is no timeline," said Gene O'Shea, Illinois Gaming Board spokesman. "In the past, these things have taken up to a year, sometimes longer."
Midwest Gaming has built, and either owns or manages five casinos in the United States and Canada, including projects in Niagara Falls and Ontario, Canada; Philadelphia; Pittsburgh; and Vicksburg, Miss. As part of its investigation, the Illinois Gaming Board will contact regulators in those states.
"When a company has a history of regulatory compliance, it makes it a little faster," O'Shea said.
Midwest Gaming CEO Greg Carlin said the casino plans are being tweaked and may change from what was presented before the gaming board.
The casino will feature 50,000 square feet of gaming space, restaurants, two hotels and 1,700 parking spaces in a garage. More restaurants, additional hotel space and retail shops are planned in later phases of development. The casino portion should be up and running within 15 months.
The developer must still go through the city's plan review and approval process.
Des Plaines Mayor Tony Arredia said he has received numerous calls from residents with ideas on how to spend the roughly $9 million yearly in anticipated gambling revenues the city will receive.
City officials said no decisions have been made on how that money will be allocated.
"The next council coming in and the next mayor will have to learn how to spend this money," Arredia said. "This money will be used in the best interest of the city, I would hope."
Des Plaines expects to receive about $25 million a year from the casino, of which $10 million a year must go to the state as part of the deal that landed the license. Forty percent of the remainder will go to economically depressed towns in Cook County.