Danville Mayor Rickey Williams Jr. announced August 6 that the deadline for developers and gambling operators to submit their proposal for Danville casino is now extended to August 21.
Following the announcement, the city council voted in favor of the move to extend the deadline.
Explaining why they were extending the deadline, Danville Mayor said that he has confirmed reports that there are two other developers who are planning to submit their proposals. He said that it is always better to have more competitors.
He also confirmed that only two proposals have come so far and they are being reviewed by the local steering committee.
Earlier in June, Gov. J.B Pritzker signed a massive gambling expansion bill which allowed for six different casinos in the state. The new casinos were approved for Waukegan, Chicago, Rockford, Danville, Williamson County, and Cook county.
While the City of Rockford has also extended the deadline for casino developers to submit their proposals, the feasibility study test done by Union Gaming for Chicago casino found that it would not be a profitable venture.
The tax structure is blamed for a negative feasibility report. For the Chicago casino license, a gambling operator would have to pay a $250,000 application fee upfront. Moreover, the operator would also have to pay a $15 million “reconciliation” fee when the license is issued and up to $120 million in gambling position fees.