To add to the state’s economic problems, including a multi-billion budget deficit, the bidding for Illinois’ 10th casino license is not going as well as it was expected.

Seven groups have been bidding for the casino license, and the highest bid has reached $435, million, significantly less than the $575 million that had been predicted

Despite the current numbers, there is still hope that the bids will reach the expected levels when the license award process advances, and the competitor list is reduced to three.

The state is not planning to make any budget changes until the final numbers of the license bidding come in, and this could happen before the year ends.

Click link below: “Herald & Review” to read the article.

Casino bids fail to meet expectations: More budget problems seen
By MIKE RIOPELL - H&R Springfield Bureau Writer
October 29, 2008 12:42 AM CDT