Allstate Arena Hopes To Be Approved For In-Stadium Sports Betting

• Governor J.B Pritzker is expected to sign SB 690 into law this or next week.
• Stadiums with a sports betting license are granted a 5-block exclusivity zone.
• Two percent of sports betting revenue will be allocated to Cook County’s justice system.

CHICAGO – As the sports betting bill in Illinois sits atop Governor Pritzker’s desk for his authorization, the action behind the scenes is already heating up.

Allstate Arena in Rosemont is pursuing plans to become one of the approved stadium licenses, per the village council on Tuesday.

“If there’s an opportunity for us to bring people to our community where it’s not detrimental to the moral fabric of the community, sure, we’re going to look at it,” said Rosemont Mayor, Brad Stephens.

The applications are authorized by the Illinois Gaming Board on a first-come, first-serve basis. Only seven venues are eligible to receive licenses for legal sports betting; however, the state has more facilities than that meeting the qualifications.

Venues must be the home to a professional sports organization as well as having seating capacity for 17,000+.

The village-owned Allstate Arena would likely be approved from the IGB as they hold anywhere from 16,000 – 18,500 people (depending on the event) and play host the Chicago Wolves, an affiliate of the NHL’s Vegas Golden Knights.

If approved, the venue would have a 5-block exclusivity zone, where they can offer a sports betting service online within their arena or anywhere within that five-block radius. If mobile betting is included in their plan, they must use the same provider that is operating the land-based sportsbook as well.

All of the same stipulations would have to be followed as if the arena was a casino. Betting on collegiate teams from Illinois would still be prohibited and wagering would only be permitted for those 21-and-older.

Stadium licenses last for four years at an initial cost of $10 million and can be renewed at the end of the tenure at a cost of $1 million.

Revenue would help both the state and the city of Rosemont. The state would receive 15% of the adjusted gross receipts (the total handle minus the gamblers’ winnings), while 2% would head to Cook County.

According to the measure titled the Sports Wagering Act, the funds are strictly for the purpose of enhancing the county’s criminal justice system. Officials from Rosemont say that it will head directly to the circuit court as well as for costs of public defenders and state attorneys.

The other stadiums that will likely apply for a sports betting license include the Bear’s Soldier Field, the Bull’s United Center, the Cub’s Wrigley Field, NASCAR’s Chicagoland Speedway, and more.

News tags: Allstate Arena | Governor J.B. Pritzker | Illinois | Mayor Brad Stephens