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Danville City Council members are expected to decide Tuesday evening (September 17, 2019) which casino operating partner it will accept. There are two casino developers who met the deadline to submit their proposal to the city. Both are proposing it be placed along Lynch Road, south of Interstate 74.
It is estimated the casino will create upwards of 600 full-time jobs, plus some part-time positions. It is also expected to spur other development near it.
Dave Cocagne of Vermilion Development Corporation noted earlier this summer there was a resolution approved by the Danville City Council years ago endorsing the casino generally. The resolution to be considered Tuesday is endorsing a specific concept and operator, in a specific location as part of its application to the Illinois Gaming Board. The application must be received by the Illinois Gaming Board by October 28th.
Applicants are also required to say where a temporary casino location would be – if they are proposing one – until the new casino opens. It is anticipated that Danville’s new casino will likely open in late 2021.
‘’Although the host municipality gets a lot of tax revenue under the statute – both in the form of admissions tax and wagering tax – there is a separate provision in the statute that says you can also go beyond that and say we’re going to further share revenue with the host municipality,’’ said Cocagne.
All of the operators who were interested in the Danville casino were asked to address that issue, specifically. But Cocagne said that because of the tax structure in Illinois and the up-front license fee – which is likely $20-million dollars to $30-million dollars in Danville’s case – it is expected that any other revenue shared would likely be relatively small.
A presentation on the casino is on the agenda for Tuesday evenings Danville City Council meeting. The session begins at 6:00 p.m. at the Robert E. Jones Municipal Building at 17 West Main Street.
