Editorial: Downtown casino a bad bet

Big money, big money. We have slots, blackjack, poker, roulette, fresh air pumped in hourly and the finest buffets this side of the Mississippi. If Chicago Mayor Richard M. Daley gets his casino wish, this message could be plastered on billboards across the city, and a whole new realm of nightlife will grace this fine city.
But if a land-based casino does make its way into city limits, what effect will it have?

Daley proposes that the expected $300 million revenue stream from the casino will aid Chicago’s ailing schools, parks and museums and ease the pressure on property owners who have seen steadily increasing taxes. That is a great idea, but whether or not the money will be funneled into the correct programs is a matter of speculation.

In 1974, the Illinois lottery was established and was billed as the savior of the school system, with the bulk of the proceeds from lottery revenue supposedly going to rescue Illinois schools. But the current state of Illinois schools may be a harbinger of what’s to come from casino revenue.

Again, revenue flows will be a matter of scrutiny should the casino get approval. However, the casino will help fund Chicago’s citizens. The Daley administration is projecting the creation of close to 3,000 jobs from the casino. If this number holds true, the casino would be a godsend to the thousands of unemployed residents of this city. Hopefully, this proposed casino will aid the city, and the revenues won’t be funneled into the city’s general ledger.

The installation of a casino here in Chicago would spurn new business. A new gambling casino downtown could also help Chicago rival the tourist draw of cities such as Las Vegas and Atlantic City, N.J.
And let’s not forget about the potential for debauchery. Las Vegas has been aptly titled “Sin City.” It is the destination for people to get loose, blow some cash and maybe solicit a prostitute, which is legal in Nevada outside of Vegas.

Sure Sin City is fun, but is a debauchery label really the type of stigma that Chicago needs? Let’s add to our legacy of murder, corruption and organized crime by sprinkling a little bit of gambling into the mix.
In all seriousness, if this casino is implemented correctly, it could help the city immeasurably. As long as the revenue goes where it is supposed to go, there is a thick silver lining attached to the unscrupulous cloud that hangs over casino gambling.