Story posted Friday, February 5, 2010
Gaming Agenda Includes DP Suitability, Financing
The issues of suitability and financing for the new Des Plaines casino are scheduled for discussion by members of the Illinois Gaming Board at a public meeting on Wednesday, Feb. 10 in downtown Chicago.
Board members will consider Midwest Gaming and Entertainment, LLC's plan for financing the billion-dollar redevelopment that includes a 140,000 sq. ft. casino, two parking garages and two high-rise hotels. Midwest plans to build Illinois' 10th licensed riverboat casino on a 20-acre parcel north of Devon Avenue and west of River Road. The site is located at Des Plaines' south east corner across from Rosemont.
Also on the gaming board's agenda is an action item on Midwest's suitability. The gaming board has been conducting a required investigation into Midwest's suitability, which entails extensive background checks of all its key employees. If all goes well, as expected, the board will vote to certify Midwest as suitable to operate setting the stage for the company to move forward on securing financing in preparation for construction, which could begin as early as March with demolition of several office buildings now on the site. The opening of the casino would likely occur 16 to 19 months after construction begins.
Look to the Journal & Topics Newspapers in both its print and online editions for the latest information about the new Des Plaines casino.
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