Most recently they claimed it is worth $62.9 million, records show. The owners paid $117 million for land and construction of the casino, according to records they provided to Cook County government officials, but each year they have argued the real estate is worth $80 million, or less. Last year, Rivers paid $6.5 million in property taxes, money distributed to local school systems and other governmental agencies.
Its revenues are twice as large as any of the other nine Illinois casinos.ĭespite their success, the Rivers owners claim the value of the casino and parking garage has declined, justifying tax relief. Since 2012, Rivers has reported annual revenues of more than $400 million, after winnings, state records show.
The owners of the Rivers Casino in Des Plaines have received more than $4 million in property tax cuts since opening nearly five years ago by arguing the property was worth tens of millions of dollars less than it cost to buy and build on.
