In an attempt to fill a gap in the state budget, Illinois legislators have come up with a proposal for six new casinos in the area. According to expectations, these establishments could generate $1 billion in license fees. The state charges $100,000 for setting up a casino, plus $30,000 for each slot machine or seat at a blackjack table.
However, the state currently has a gruelling negative balance of $12 billion. In order to set the bill straight with fees for new casino operators, a total of 72 will have to be set up.
Given the almost 10 million residents of Illinois that are of age to gamble, the market may well have a potential to accommodate such a number of new gaming parlors.
These days taxes collected from existing gambling facilities provide an insufficient amount to tackle the state’s financial needs so the only viable solution lies in counting on new casinos’ license fees.
After all, since universities rely on fees to balance their budgets, why can’t the state also do so?