The owners of Illinois’ highest-grossing casino are going all-in with a proposal to operate the newly authorized casino in Waukegan.

Churchill Downs Inc. and Rush Street Gaming announced Thursday they’re among the developers vying for the north suburban casino license that’s part of Illinois’ massive gambling expansion signed into law earlier this summer.

The gambling giants jointly own Rivers Casino in Des Plaines, which generated nearly $442 million last year, more than double any of the state’s nine other existing casinos.

Their proposed Rivers Casino Waukegan would be a 1,625-gaming position parlor at Waukegan’s Fountain Square, a former shopping mall at Lakehurst Road and Northpoint Boulevard.

They say their plan will create more than 1,200 permanent jobs and 900 construction jobs while pumping more than $150 million annually into the local economy.

Read on the Chicago Sun-Times.