From Chicago Business
Language on a long-expected proposal to bring widespread Internet gambling to Illinois finally has surfaced in Springfield, and by all indications the plan will be both highly lucrative and highly controversial.
The language was circulated late Tuesday, according to my source, by aides to Senate President John Cullerton, who long has said he wants to legalize online gambling because of the potential payoff in state revenue but has separated the issue from the proposed expansion of casino gambling.
Mr. Cullerton’s office didn’t officially confirm that something is coming. But his spokesman promised “details to come” — and I hear the proposal could come up for at least a committee vote later this week.
According to the proposal passed on to me, some really big money is at stake, with potential private operators asked to pony up $20 million up front for a state license and pay taxes of 7.5 percent to 20 percent of gross revenue, depending on the type of game. Licensed operators would have some freedom to run just about any type of individual or group tournament game, though betting on sports events would be allowed only on events in which that is legal.
In charge of the operation would be a new Division of Internet Gaming in the Illinois Lottery department, which conducts some online lottery sales.
