111 East Wacker, Suite 2800
Chicago, Illinois 60601
Tel (312) 527.4000
Fax (312) 527.4011
*On April 8, 2012, Paul T. Jenson
was quoted in the Chicago Tribune,
commenting on problems caused by
forgotten municipal laws banning
gaming in suburban communities.
*On March 17, 2011, Paul T. Jenson
gaming shareholder, was quoted in
GamblingCompliance.com's article entitled,
“Clouds Gather over Illinois Slots
View the full article here
*Shefsky & Froelich Gaming attorney
February, 2011, edition of Chicago
Lawyer magazine in the article entitled,
"Niche: Midsize Firms Often Offer
View the full article here
*Shefsky & Froelich's Gaming Practice
has received a Tier 1 ranking in the
“Best Law Firms” 2010 Survey by
U.S. News and Best Lawyers®,
Best Law Firms.
In April 2012, the Illinois Gaming Board approved a licensing process for video gaming machines in eligible establishments. A Video Gaming Location License Application must be filed in order to obtain a license. Shefsky & Froelich has dedicated a toll-free number to call with any questions or for assistance with the filing process. Call 866.527.4970
- Illinois Senate Bill 744, commonly referred to as the “gaming expansion bill,” amends the Illinois Riverboat Gambling Act, the Illinois Horse Racing Act of 1975, and several other acts of the State of Illinois. The Bill also enacts the Chicago Casino Development Authority Act, establishing the Chicago Casino Development Authority for the purpose of holding a license to own a land-based or riverboat casino in the City of Chicago.
Our purpose is to provide an overview of the most significant provisions of the Bill. Before becoming law, the Bill either must be approved by Illinois Governor Quinn or, if Governor Quinn vetoes the Bill, the Illinois legislature may override his veto. view: Summary of Illinois Gaming Expansion Bill.
- The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 implements numerous tax incentives, including 100% bonus depreciation for qualified investments made between September 9, 2010 and December 31, 2011 (as long as the qualified investment was not acquired pursuant to a written binding contract in effect as of January 1, 2008). We have prepared a Client Alert, which discusses the availability of bonus depreciation for video gaming terminals under the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. To view the Client Alert: Video Gaming Terminals and Bonus Depreciation.
- On December 1, 2010, the Illinois Senate passed S.B. 737, which if signed into law would result in a significant expansion of gaming in Illinois. To view the summary of S.B. 737: Proposed Gaming Expansion Litigation.
- On April 2, 2010, the Illinois Gaming Board posted a non-exhaustive list of questions and answers related to the video gaming licensing process. To view the licensing questions and answers: Frequently Asked Questions Regarding Video Gaming License Applications.
- On March 11, 2010, the Illinois Gaming Board released licensing applications for Video Gaming Manufacturers, Distributors and Suppliers. To view the licensing applications for prospective license holders and related businesses, individuals and trusts: Manufacturer/Distributor/Supplier Application, Affidavit of Residency, Trust Disclosure Form, Business Entity Disclosure Form, Personal Disclosure Form.
- On October 16, 2009, the Illinois Gaming Board released a partial set of the rules for the legalization of video gambling in the State of Illinois. Please view the Illinois Video Gaming Emergency Rules.
- The Video Gaming Act enacted on July 13, 2009, legalizes the use of video gaming terminals in licensed establishments, licensed truck stop establishments, licensed fraternal establishments, and licensed veterans establishments. A video gaming terminal is any electronic game machine that, upon insertion of cash, is available to play or simulate the play of a video game, including but not limited to video poker, line up and blackjack, as authorized by the Illinois Gaming Board utilizing a video display and microprocessors in which the player may receive free games or credits that can be redeemed for cash. This does not include a machine that directly dispenses coins, cash, or tokens or is for amusement purposes only. All video gaming devices falling outside of this definition will be illegal to possess, constituting a felony, under Illinois law. Read a full summary of the Illinois Video Gaming Act.
For the past 20 years, Shefsky & Froelich has offered innovative, comprehensive legal services to a wide range of clients in the gaming industry throughout North America and worldwide. In a heavily regulated industry like gaming, we knew early on that the best way to learn the industry was by starting from the inside—by working with state governments and their regulatory authorities to draft gaming legislation, rules, and regulations and serving as gaming counsel to these governmental authorities. Our lawyers then went on to develop an in-depth understanding of the operational side of the casino gaming business by serving as counsel to some of the largest gaming companies in the world. We have also acquired significant expertise in the financial structuring of gaming transactions.
- Hotel and casino owners and operators
- Sovereign wealth funds
- Gaming suppliers, equipment manufacturers, and other vendors
- Commercial lenders, underwriters, and investment banks
- Investors such as financial institutions, private equity funds, and individuals
- Governmental entities
And because gaming is big business, we have developed an ever-expanding network of investment bankers, commercial bankers, accountants, construction developers, and other consultants who are experts in various aspects of the gaming industry. These relationships give us the unique ability to broaden our services to our clients.
Our attorneys provide keen insight into the industry as well as traditional corporate, tax, securities law, litigation, and real estate services.
General Experience and Services
- Serve as gaming counsel to casino owners, operators, and vendors
- Represent gaming clients in several foreign countries
- Advise on the selection of gaming company vendors
- Acquire real estate
- Obtain development approvals
- Represent casino operators in all aspects of litigation
- Advise on Native American gaming projects
Regulatory and Compliance
- Advise on necessity of obtaining licenses
- Assist financial institutions in preparing corporate structures that are compatible with regulatory issues
- Prepare regulatory applications for gaming licenses
- Advise on and draft gaming legislation and rules and regulations
- Represent gaming clients and vendors before regulatory agencies
- Assist in the preparation of proposals submitted in response to municipal and state RFPs
- Advise on the political process
- Draft internal compliance procedures
- Conduct independent internal investigations related to regulatory violations
Mergers and Acquisitions
- Provide M&A, contract, joint venture, and real estate expertise to casino owners, operators, and vendors
- Negotiate and draft management agreements with casino operators
- Negotiate and draft development agreements related to multibillion dollar gaming projects
- Provide guidance in the formation of corporate and business structures
- Provide private and capital markets financing and commercial lending expertise for riverboat gaming and land-based casinos throughout North America
- Represent institutional and commercial lenders providing financing secured by gaming assets
- Advise individual investors on potential gaming opportunities
- Serve as gaming counsel to city governments
- Draft gaming legislation and rules and regulations
- Review and evaluate gaming proposals made by competing developers/operators