Illinois Gaming Board announces departure of Chairman Charles Schmadeke
Schmadeke oversaw his final meeting this week prior to the conclusion of his term on July 1.
Key Points
- Charles Schmadeke is set to step down from his position as Chair of the Illinois Gaming Board
- Departing on July 1, he served a six-year tenure over two terms and helped guide the board through the Covid-19 pandemic
The Illinois Gaming Board (IGB) has announced that Chairman Charles Schmadeke is set to step down from his position following the end of his term, scheduled for July 1.
As part of his final meeting, the board approved a number of new gaming licenses and regulatory initiatives. Schmadeke oversaw the board’s activities for two terms – totaling a six-year tenure. Further, as part of his address at the IGB meeting, he acknowledged the hard work of his fellow board members in their continuous oversight of the state gambling market.
Speaking on his departure, IGB Board Administrator, Marcus D Fruchter, said, “On behalf of myself, the Board and IGB staff, I acknowledge and thank Chairman Schmadeke for his nearly six years of dedicated and ethical service as Gaming Board Chair and his continued commitment, contributions and dedication to our State.
“His tenure overlapped with considerable changes to the Illinois gaming industry and the IGB itself – including gaming expansion, agency modernization and the impacts of the Covid-19 pandemic and its aftermath.”
Good to know: Earlier this week, Illinois announced a sports betting tax hike which makes its tax rate one of the highest in the US – sparking drops in the share price of multiple operators
Also commenting on this latest news, Schmadeke stated, “After two terms, it is time for me to call it a day, so in essence this is my valedictory for the Gaming Board. The duty of the Gaming Board is to protect the integrity of gaming in Illinois and for that it has been my goal in particular but our goal in general is that gaming should benefit all of Illinois and we have always consciously attempted to assure that all Illinoisans participate in the benefits of gaming.”
Elsewhere, in April, the IGB posted the state’s casino AGR figure of $170.9m for the month of March – up 12.2% year-over-year.
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