Three finalists to operate under the state’s 10th casino license will present their final proposals to the Illinois Gaming Board at a meeting today.

The bidding teams selected by the board have proposed locations for the casino in the Chicago suburbs of Des Plaines and Rosemont and in the city of Waukegan, about 40 miles north of Chicago.

The license is no longer expected to result in the cash windfall it once was because of the struggling economy, which has hurt casino companies’ profits and state gaming taxes. The state originally hoped to collect about $500 million for the license.

The finalists include Los Angeles-based Trilliant Gaming, which is working with Rosemont and has bid $425 million; Waukegan Gaming, which has bid $225 million; and Midwest Gaming & Entertainment, which is working with Des Plaines and has bid $100 million.

Lawmakers have said they would like to use the funds to help support a capital program.

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