New casinos, slots good for state

We’re up to our necks in a deepening financial crisis and staggering unemployment rates. But a very real solution exists that enables the state to generate revenue and create jobs — all at no expense to taxpayers.

The Illinois Revenue & Jobs Alliance is united behind a solution that calls for increased gaming outlined in Senate Bill 1849 that would result in sorely needed dollars for education, capital projects, debt relief and safety-net programs. The passage of SB 1849 would bring five new casinos to the state of Illinois, create more gaming positions at existing venues around the state and add slot machines at horse racing tracks.

Unlike other suggested revenue options, this one doesn’t come with strings attached to the wallets of Illinois residents, who are fed up with paying more and getting less. In fact, SB 1849 would generate nearly $200 million annually in new revenue for the state and create more than 20,500 jobs for our residents, including 9,800 full-time jobs and 4,500 construction-related jobs. By adding slot machines at Illinois horse tracks, SB 1849 would create more than 2,700 jobs at the racing venues, on top of more than 1,000 full-time construction-related jobs needed to update the facilities as they exist today.

Although Illinois must take action to reform its ballooning pension system and bankrupt Medicaid program, it must also find new ways to generate revenue. Independent polling shows that 74 percent of Illinoisans prefer that legislative leaders find ways to generate new revenue rather than cut programs or raise taxes. Given the dire state of Illinois’ finances and our overwhelming unemployment rate, it’s time Illinois take that first step on the road to a more certain economic future.

Bill Black

Chairman, Illinois Revenue & Jobs Alliance