Park City ramps up casino planning

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Park City aldermen have stepped up their strategic planning on the possibility that a new casino may soon be coming to town. | Sun-Times file

Updated: December 7, 2011 1:55AM

PARK CITY — Aldermen here have stepped up their strategic planning on the possibility that a new casino may soon be coming to town.

“Our focus now is not just dreaming of having a casino, it is preparing for one,” Mayor Steve Pannell told the City Council on Thursday night.

The City Council then decided to interview two experienced management consultants with gaming experience who can advise the city on developing a financial impact study and counsel on other obligations that the city might encounter in preparing for such a casino possibility.

Attorney Adam Simon, of the Vernon Hills law firm of Ancel Glick, informed aldermen of a recent meeting he had with the City Council’s Finance Committee to discuss some potential financial “spin-offs” — both pluses and minuses — the city might expect from a casino.

“A qualified consultant can assist you in estimating your potential revenues and expenses from such a venture,” he said.

Since city officials have already announced they will share the profits with neighboring communities and some local school districts, Simon said it is important officials have a clear understanding of their financial expectations.

“Naturally, the state gets first cut at the profits,” he emphasized. “The state’s Gaming Commission could also have a big say in how these profits are disbursed.”

Simon indicated a most important question that needs to be addressed is: “Will the revenues received from the casino offset Park City’s investment costs in such costs as providing new infrastructure, public safety needs, and revenue-sharing with other agencies?

Other questions that Simon said need to be addressed by a consultant would include what will the impact of the casino be on other nearby governments, and will it generally be net-positive financially for the surrounding area? Any financial plan would need to be based over years, not months, he stressed.

Pannell said it is essential the city have such a financial impact plan in mind well before any shovels are put in the dirt, even though the casino issue is still undecided in Springfield,

“It is now necessary for Park City to begin doing the groundwork necessary to accommodate such a casino. The state expects this as well. Such a report by a competent and experienced gaming consultant will be of great value to us,” Pannell said.