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| Rivers Casino | |
|---|---|
| Location | Des Plaines, Illinois, United States |
| Address | 3000 S River Road |
| Opening date | July 18, 2011 |
| Casino type | Land-based |
| Owner | Churchill Downs Inc. (62%) Rush Street Gaming (38%) |
| Website | riverscasino.com/desplaines |
Rivers Casino is a casino in Des Plaines, Illinois, United States, a northern suburb of Chicago. It is minutes away from O'Hare International Airport. Rivers Casino opened on July 18, 2011. It is majority-owned by Churchill Downs Inc., and managed by its minority owner, Rush Street Gaming.
The building sits above a few inches of water in a shallow pit. This was created for the casino to comply with state law, intended to legalize riverboat gambling.[1]
History[edit]
In 2008, the Illinois Gaming Board awarded the state's 10th and last casino license to Midwest Gaming and Entertainment LLC, a group led by Neil Bluhm,[1] to build a 140,000-square-foot (13,000 m2) casino on approximately 21 acres (8.5 ha) adjacent to the Tri-State Tollway at the northwest corner of Devon Avenue and Des Plaines River Road. Des Plaines was awarded the gaming license in 2008. The city approved zoning in early 2010. The casino opened in July 2011 as Rivers Casino.
In 2019, Churchill Downs Inc., which owned the nearby Arlington Park racetrack, purchased a 62 percent stake in the casino from Bluhm and his partners for $407 million.[2][3]
References[edit]
Rivers Casino Des Plaines Wiki
- ^ abChicago Tribune: 'Des Plaines casino goes Vegas to corner upscale Chicago market' by Jennifer Delgado and Robert McCoppin July 15, 2011
- ^Form 10-K: Annual Report (Report). Churchill Downs Inc. February 27, 2019. p. 5 – via EDGAR.
- ^'Churchill Downs Incorporated completes purchase of stake in Rivers Casino Des Plaines in Illinois' (Press release). Churchill Downs Inc. March 5, 2019 – via EDGAR.
Rivers Casino Des Plaines News
Des Plaines' new $164 million annual budget reflects spending and revenue cuts prompted by the COVID-19 crisis, officials said.
The city council unanimously approved the financial plan Monday night. The new fiscal year starts Jan. 1.
The spending plan is about $8.1 million leaner than the current year's estimated $172.1 million budget. That's a decrease of about 4.7%.
To reduce spending, the city instituted a hiring freeze for open positions. The city also eliminated 11 positions through an early retirement incentive program launched earlier this year, Assistant City Manager Dorothy Wisniewski said.
Some projects have been delayed, too. But others are moving forward and are included in the budget.
For example, the new budget sets aside:
• $6.5 million to buy homes in flood-prone areas as part of an ongoing program benefiting from federal, state and regional funds.
• $1.5 million to complete the Des Plaines Theatre renovation.
• $4.3 million for a bicycle and pedestrian path along Rand Road between Central Road and Elk Boulevard.
• $8 million for the reconstruction of a parking garage near city hall, a project with an estimated $15.3 million total cost.
Revenues from taxes, fees and other sources are expected to drop to $144.7 million in the 2021 fiscal year from about $145.5 million, officials said. That's a decrease of less than 1%.
As is the case in many communities, the state's orders to cease or reduce in-house restaurant service has hurt Des Plaines' tax stream. The state's recent order to temporarily close Rivers Casino for the second time this year is a concern for the city, too.
Gambling revenue already was down this year because of the original shutdown, which lasted from mid-March through June, officials said. Operating hours and capacity limits subsequently were reduced, too.
During the council's discussion of the budget Monday night, Mayor Matthew Bogusz noted the city doesn't fund core services or staff salaries with casino revenue. It's used only to fund capital projects and pay off debt.
Rivers Casino Des Plaines
Because Des Plaines delays budgeting gambling revenue for two years to account for any reductions, that decrease will be felt more in the 2022 budget.
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