Negocios Now

www.negociosnow.com 16 Octubre 2019 NegociosNow NegociosNow By Karen Eng* I n late June 2019, Gov. JB Pritzker signed the gaming expansion bill – allowing for six new casinos, expansion of gam- bling at racetracks, added video gaming machines, higher taxes and maximum bets on video gaming machines and the legaliza- tion of sports betting. In addition to the 10 existing casinos in Illinois, new casino locations have been approved for Chicago, Danville, Waukegan, Rockford, South Suburbs (Bloom, Bremen, Calumet, Rich, Thorn- ton, or Worth Township), and Wil- liamson County (adjacent to the Big Muddy River). Arlington and Hawthorne Race Courses are allowed to apply for licensure from the Gaming Board to conduct electronic gaming for the facilities. At horse racing tracks: the mas- ter sports wagering license allows each track to use three of its off track betting locations as sportsbook locations, while allowing the ability to operate one mobile application. At sports facilities: provides for licensure of up to seven sports facilities or their desig- nees with a seating capacity of over 17,000 persons. The Illinois Lottery would be granted a master license that will allow lottery sports wagering terminals in retail locations. Video gaming has been expanded to allow for additional machines in current locations while maximum bets have doubled and maximum payouts have increased. Gaming operations at Chicago airports have been authorized. This gaming expansion has been called one of the largest gaming industry expan- sions in the United States and businesses supporting the gaming industry are excited for the opportunity. Once the new casinos are developed, it is expected that all the casinos in the State of Illinois will procure close to $1 billion in goods and servic- es annually. Given the goals and mandates by the Illinois Gaming Commission, this expansion will offer growth opportunities for companies and businesses owned by minorities, women, veterans, persons with disabilities and indi- viduals of underserved communi- ties. Supplier diversity outreach will be neces- sary for new casino applicants as this is a priority in the Illinois Gaming Board appli- cation process. Existing casino businesses will also have to reinvent their approach to focus on meeting supplier diversity goals. As the gaming industry expands so do opportunities for supplier diversity. *Dr. Karen Eng is the President/CEO of CSMI karen@diversitygamingsolutions.com (847) 605-0080 office Illinois Gaming Expansion: Jackpot for Diversity Prado & renteria c e r t i fi e d P u b l i c a c c o u n t a n t s MBE/WBE. © 2008 Prado & Renteria, Certified Public Accountants, Prof. Corp. All Rights Reserved. The accounting function is increasingly under the spotlight: increased scrutiny and the continuous introduction of new regulations have combined to increase the level of complexity. Prado & Renteria brings simplicity to complexity. Our professional staff is specialized by practice areas providing our clients specific expertise resulting in accurate reporting, the development of compliant infrastructures, and the identification of effective internal control mechanisms. If your business falls into one of our practice areas we invite you to call us at (312) 567-1330 for a complimentary consultation. bringing simplicity to complexity Government . Publicly traded corPorations . non-Profit orGanizations . Privately owned comPanies Practice areas: Creating business solutions that promote growth and sustainability. Prado & renteria c e r t i f i e d P u b l i c a c c o u n t a n t s For More Information Contact Maria De J. Prado or Hilda Renteria MP 312.788.1434 | HR 312.788.1433 | www.pradorenteria.com © 2019 Prado & Renteria, Certified Public Accountants, Prof. Corp. All Rights Reserved. MANAGERIAL ACCOUNTING CONSULTING • FINANCIAL ADVISORY SERVICES • BUSINESS STRATEGIC PLANNING • BUSINESS PROCESSES For nearly 30 years, Prado & Renteria has provided clear, reliable financial data for individuals and organizations to fulfill their purpose.

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