Rush Street Gaming Co-Founder Neil Bluhm Argues Against Chicago Stadium Sportsbooks
Neither is Rush Street Gaming co-founder Neil Bluhm. Rush Street is involved in submitting two Chicago casino bids, and there is apparently fear of competition.
In a joint meeting with the zoning and license committees, Bluhm claimed that Chicago casino revenue would drop by $61 millionannually with stadium betting.
Bluhm is a well-known figure in the Illinois entertainment community, and his viewpoint may be significant.
Why Bluhm thinks that casinos do suffer from facility sportsbooks
It & rsquo, not Bluhm doesn’t want sportsbooks to be permitted in the city, but it comes down to competition and revenue.
The Chicago game permit has been put up for bid by Rush Street. Bluhm thinks that patrons of wholesale sportsbooks congregate in casinos or stadiums alike.
Rush Street owns a minority stake in Rivers Casino in Des Plaines, which is affiliated with BetRivers Sportsbook.
It’s clear that the casino-minded Bluhm wants legal sports betting in Chicago. With that said, he doesn’t want the revenue taken away from a casino. If the sportsbook stadium ordinance passes in Chicago, the Rush Street co-founder would lose money from the casino gambling side.
Bluhm was quoted in a joint meeting of the planning and permit commissions in an article by the Chicago Sun-Times as saying:
& ldquo, A gambler who also bets on tables and slot machines is very likely to be a person who plays sports. Andnbsp, It & rsquo, 20 % of our business & hellip, this is just a hypothetical discussion. & rdquo,
The dynamic nature of games exists. Bluhm does not, however, want to see the money that his business could make from a Chicago sportsbook and casino go straight to an outdoor sportsbooks.
Chicago casino bids were also submitted by Bally & rsquo, s, and Hard Rock. We have yet to discover either side defend betting on indoor activities.
The ripple effect of promotion
There are currently six online sportsbooks in Illinois. Competition is fierce to gain Illinois bettors’ attention, and sportsbooks spend millions on ads and promos.
Tens of thousands of spectators can be seen at a time at sports stadiums like Wrigley Field, Guaranteed Rate Field. Soldier Field and the United Center, and many of them may be present for the game they & rsquo, re attending. Tens of thousands of spectators at one event may cause gamblers to move their money away from a game casino.
The condition may consider facility sportsbooks as a viable option as this industry continues to expand. In order to reroute visitors to his casinos and sportsbooks, Bluhm and his Rush Street staff will need to highlight the advertising and blackjack promotions if the law is passed.
Of course, that may cost more money. While one may debate the merits of Bluhm & rsquo’s claim, his logic is unambiguous.
Are there any actual facility sportsbooks? Yes. In Illinois, they are actually permitted.
But money is going to play a big part in this business, just like anything else.