Libertyville officials stunned by resident’s casino proposal

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A local entrepreneur, unexpectedly proposed that the Libertyville Village Board should seek a casino to enhance economic development, and suggested he was just the man to bring one into town. | Sun-Times Media file

Updated: February 20, 2012 8:22AM

Jaws dropped and officials were speechless as Tom Rielly, a local entrepreneur, unexpectedly proposed Libertyville should seek a casino to enhance economic development.

He suggested he was just the man to bring one into town.

Rielly, speaking extemporaneously Tuesday Jan. 10 during the public comment section of the Village Board’s agenda, told the surprised trustees the climate is right for such ventures, and where better to take advantage of this lucrative trend than right in his hometown?

“I figure the potential worth for such a venture would be $50 million to $100 million,” he told flabbergasted trustees.

Rielly said with village backing he could pursue a state gaming license, organize a pool of casino investors, and find an appropriate local casino site.

He said such a venture would boost the village’s economic development, bring more taxes into village coffers and create new jobs for residents.

Rielly said he has previous experience in this area, having partnered with casino investors in the past and providing gaming consulting under the federal Indian Gaming Act.

Currently, the Legislature and Gov. Pat Quinn are hammering out where the next casinos will be sited in the region. While Park City was approved as a gaming site by the Legislature, it is believed the governor favors a location at Waukegan’s Fountain Square.

Once Libertyville Mayor Terry Weppler, an attorney, recovered from the shock, he asked Rielly several questions about providing a written business plan, assurances he could secure a state casino license, names of potential investors and pending sufficient financial backing.

Rielly responded to the questions either in the negative, said he was working on that or they were of a confidential nature.

Weppler asked village trustees if they had any questions, but none responded.

The mayor then suggested Rielly develop a specific proposal in writing and submit it to Village Administrator Kevin Bowens for further consideration.