[ad_1]
The Cardinals’ Adam Wainwright launched in 2018 at Wrigley Field, where sports betting has now been approved by Chicago City Council. Photo by David Carson, dcarson@post-dispatch.com
OK bet for Wrigley, Solider lands
Chicago Mayor Lori Lightfoot on Wednesday got city council to give the green light to sports betting at Wrigley Field, Soldier Field and other Chicago stadiums, despite criticism from some aldermen who believe it will hurt tax revenue of a future casino in the city. The council approved the measure with eight aldermen voting against.
In 2019, after the Illinois legislature approved stadium sports betting, Lightfoot said it had “the potential to undermine the viability of any Chicago-based casino.” But the mayor has since pivoted to support the idea. On Monday, she said many people who were now complaining “didn’t raise a single word of criticism” when Springfield adopted her.
The support is far from universal. The Lightfoot administration estimates that a 2% betting tax on stadium sports betting will only bring in $ 400,000 to $ 500,000 per year. Critics say the city will lose significantly more than that in tax revenue from the planned casino, as players will instead head to the stadium facilities.
Several city councilors then noted that sports betting taxes would be derisory compared to the millions of dollars in taxes that donors said would be lost if team owners were allowed to “cannibalize” the casino with their own establishments. .
[ad_2]
Source link