In a recent development which could be seen as a part of the gambling expansion in Illinois, Gov. J.B. Pritzker has signed a bill into law which would allow the city of Rockford to raise taxes on video gaming machines.
The bill (Senate Bill 1558) which called for allowing the city to raise taxes on video gaming machines was sponsored by Sen. Steve Stadelman (D). The new legislation is to come into effect immediately after it got the official approval from the state governor.
At present, as per the existing regulations, non-home rule cities in Illinois cannot charge more than $25 annually for a video gaming machine license. However, under the new law, the city of Rockford can charge up to $250.
Recently Gov. J.B. Pritzker signed a massive gambling expansion bill in Illinois allowing for six casinos at different locations including one in Chicago and Rockford.
The city of Rockford announced process seeking proposals from interested developers last month. However, the deadline to submit a proposal for Rockford casino was extended earlier this month.
Gambling operators and companies interested in developing the Rockford casino can now submit their proposals by Friday, August 30 at 2 p.m. Earlier the deadline to submit a proposal was Friday, August 16.
Explaining the move to extend the deadline, the City Council said that their original deadline only provided investors with a 44 days window to draft and submit the proposal which was way below the industry standards.
Now with the extended deadline, interested parties will have 58 days to plan and submit their proposals.