💰 Son of billionaire casino magnate Neil Bluhm invests in competitor - Chicago Tribune

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To protect Rivers Casino, Neil Bluhm has tried to stop the spread of gambling in Illinois. His son Andrew has invested in a growing video poker.


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Over the past two decades, Neil Bluhm's advancing presence in casino gaming has earned a robust chapter in an already storied real estate development.


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To protect Rivers Casino, Neil Bluhm has tried to stop the spread of gambling in Illinois. His son Andrew has invested in a growing video poker.


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To protect Rivers Casino, Neil Bluhm has tried to stop the spread of gambling in Illinois. His son Andrew has invested in a growing video poker.


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Daughter of billionaire casino magnate Neil Bluhm sells Winnetka home. Meredith Bluhm-Wolf, who along with her siblings has an ownership.


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Daughter of billionaire casino magnate Neil Bluhm sells Winnetka home. Meredith Bluhm-Wolf, who along with her siblings has an ownership.


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Chicago billionaire Neil Bluhm is expanding his casino empire in New York, but he recognizes gaming growth can't continue unchecked.


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Bluhm also owns successful casinos like the Rivers Casinos near Chicago and Philadelphia's SugarHouse Casino. He co-founded JMB Realty and is a managing.


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To protect Rivers Casino, Neil Bluhm has tried to stop the spread of gambling in Illinois. His son Andrew has invested in a growing video poker.


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Neil Gary Bluhm (born ) is an American billionaire real estate and casino magnate. He is a partner of Midwest Gaming & Entertainment, which owns several.


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Skip to content. He's the operator of Illinois' most profitable casino, Rivers Casino in Des Plaines, and getting richer off every hand thanks to his near-monopoly on table games in the Chicago region. Hotels cut thousands of jobs in Illinois in May as pandemic continues to hit travel and hospitality hard. It's too much. Their vulnerability could one day leave taxpayers vulnerable. Coronavirus Horse racing without spectators set to begin at Hawthorne, but Arlington International Racecourse is stuck at the gate. In Pittsburgh, Bluhm is facing new competition from Ohio. Now the casinos are being served up as meals for the video machine operators and tavern owners. Brian Cassella, Chicago Tribune That doesn't mean he's not telling the truth. In Chicago, visions of a downtown casino resurface annually, with Mayor Rahm Emanuel leading the charge. See all newsletters. And I would prefer that the only people who throw away money at these places be the people who voluntarily walk in their doors. Penney to begin store closings, including 5 in Illinois.{/INSERTKEYS}{/PARAGRAPH} Bluhm's argument is a self-serving one. The culprit? Every Illinois casino but Bluhm's experienced gaming revenue declines in fiscal year , according to a report on wagering in Illinois by the Commission on Government Forecasting and Accountability. Meanwhile, statewide, casino receipts are falling. Horse racing without spectators set to begin at Hawthorne, but Arlington International Racecourse is stuck at the gate. Governments desperate for revenues that don't involve taxes are packing the gambling market to the point that early adopters — with their graying interiors and less-dizzying machines — are dying. In Philadelphia, regulators last month awarded a license for a new facility planned for 7 miles from his SugarHouse Casino. Recommended on Chicago Tribune. Admissions declined The overall 6. Latest Business. You are now following this newsletter. Demand is not unlimited. Officials in Rhode Island and Delaware have had to resort to concessions and subsidies for casinos in order to preserve those jobs and tax revenues. Twitter chiconfidential. Business Hotels cut thousands of jobs in Illinois in May as pandemic continues to hit travel and hospitality hard. The casinos came in and destroyed the horse tracks. Video gaming. {PARAGRAPH}{INSERTKEYS}That's because New York officials opted out of the Orange County location, fearing such convenience would cannibalize new ventures, including Bluhm's, all targeted for economically depressed areas. In Connecticut, Tribal casinos have struggled, with one reducing staff by more than 1, workers in fiscal year In Mississippi, Caesars Entertainment closed Harrah's Tunica, with its 1, hotel rooms, after getting overrun by fresher competition from Oklahoma, Missouri and Arkansas. Working Lunch Newsletter. Why should we care? Or it's a sweet reckoning. In the Chicago area, which includes portions of Wisconsin and Northwest Indiana, there were approximately 5, video gaming terminals as of June, the equivalent of adding five full-size casinos to the region, the report found. Get the latest business news headlines, delivered to your inbox midday weekdays.