CHICAGO — Illinois Gov. JB Pritzker turned heads this week when his marketing campaign disclosed he received $1.4 million playing final yr. Although the billionaire Democrat doesn’t frequent Las Vegas casinos as a lot as he as soon as did, the windfall is a reminder of his high-stakes previous.
Pritzker has been a blackjack participant for greater than twenty years, lengthy earlier than he entered public workplace. “He’s a whale in Vegas,” stated a businessperson who’s identified Pritzker for years and was granted anonymity to talk freely.
“I was incredibly lucky,” Pritzker informed reporters Thursday when requested concerning the huge win. “You have to be, to end up ahead, frankly, going to a casino anywhere.”
Luck is likely to be underselling it.
In Chicago’s enterprise group, Pritzker has lengthy been identified for his affinity for playing cards. A poker e book has been seen on the shelf of his Chicago workplace, and he’s been noticed sidling as much as a desk whereas touring.
That curiosity in poker goes past the non-public. Pritzker teamed up with Jim Grey, who based OptionsXpress, to start out the Chicago Poker Problem, a high-profile charity event that raised thousands and thousands for the Illinois Holocaust Museum & Schooling Middle, which Pritzker additionally helped set up.
Although Pritzker not performs within the occasion, its status is known. It was as soon as held on the unique On line casino Membership that sits within the shadow of the John Hancock Constructing, not removed from Pritzker’s residence.
The visitor checklist has included a formidable roster of Chicago’s elite, together with Citadel’s Ken Griffin, billionaire entrepreneur and ComPsych founder Wealthy Chaifetz, and OptionsXpress Holdings founder Grey. Even poker professional Phil Hellmuth Jr. has been an everyday attendee.
“He is a very thoughtful player,” Ariel Capital Administration founder and Democratic donor John Rogers Jr. stated of Pritzker. “He has a very good understanding of the game’s nuances. He is really comfortable around a poker table. He’s always one of the better players at these tournaments.”
In accordance with the joint federal return filed with first woman MK Pritzker, the couple reported almost $10.7 million in adjusted gross earnings for 2024 — greater than triple the $2.8 million they reported the earlier yr. The haul included $4.2 million in capital beneficial properties, almost $3.9 million in dividends, greater than $800,000 in curiosity earnings — and the $1.425 million windfall from playing.
Pritzker, who stated he’s donating his winnings to charity, stated the on line casino payout got here throughout a trip in Las Vegas along with his spouse. He didn’t say the sport or the venue he performed, nor may he recall what hand he performed to get the massive win.
Whereas the governor’s on line casino winnings have generated headlines, they’re only a sliver of a a lot bigger monetary image. Pritzker is an inheritor to the Hyatt Lodges fortune and has an estimated web value of $3.9 billion, in response to Forbes. Pritzker doesn’t take a wage as governor and has positioned his belongings in a blind belief to keep away from potential conflicts of curiosity.
An individual near Pritzker says the governor hasn’t frequented Vegas a lot since he was elected governor. And given 2024 is the primary famous submitting of any playing winnings — the regulation says you don’t must report losses — that appears true.
Pritzker not holds any direct on line casino investments. Earlier than his first election in 2018, he had a small stake in Elgin’s Grand Victoria On line casino by an organization he had invested in.
In the meantime, playing choices in Illinois have expanded below his administration. In 2019, he permitted laws legalizing sports activities betting, allowed for development of six new casinos and elevated the variety of slot machines obtainable in bars and eating places — all geared toward producing income to assist a $45 billion infrastructure enchancment initiative.
Now in search of a 3rd time period as governor, Pritzker’s political ambitions might prolong even additional, with hypothesis a couple of potential 2028 presidential run.
Requested whether or not his love of playing might be a legal responsibility in working for workplace, Pritzker stated, “I think people know when I got elected, and have known for some time, that I’ve been very fortunate in my life.”
Supply hyperlink
