Cezar M. Froelich

Partner / Chairman, Chicago Chicago


Cid is a Martindale-Hubbell AV Preeminent-Rated lawyer who helps clients resolve corporate finance and securities, mergers and acquisitions, and corporate governance with a heavy emphasis on gaming-related matters. Cid often draws from his extensive experience working in the boardrooms as a director of various mid-market and large privately-held and publicly traded companies, including several gaming companies, when advising his clients.

Cid’s practice runs the gamut of corporate and gaming-related legal matters, capital restructuring, mergers, acquisitions and regulatory issues. Cid has advised the State of New York, multiple Massachusetts cities, and the cities of Chicago and Rockford in Illinois, as well as large gaming organizations and institutional investors in connection with gaming matters. Cid has also represented investment banking and brokerage firms, publicly-held and privately-held entities, boards of directors, audit, compliance and compensation committees.

Cid’s comprehensive knowledge of corporate, securities and gaming law and insider’s perspective of these matters are among the reasons why he has been named a Lawyer of the Year by Best Lawyers in America for Gaming since 2006 and has been honored by Illinois Super Lawyers for many years.

Cid received his J.D. from Loyola University Chicago School of Law and his B.A. from Loyola University of Chicago. Cid also founded the law firm Shefsky & Froelich Ltd. and served as its Managing Partner/Chairman prior to its merger with Taft in 2014. He is currently the Chairman of the Chicago office of Taft.


  • Honoree, Lawyer of the Year, Best Lawyers®Gaming, Chicago (2017)

  • Honoree, Leading Lawyers Network (2004 – present)

  • Honoree, Illinois Super Lawyers, Gaming (2005 – 2011, 2017 – present)

  • Honoree, Best Lawyers in America, Gaming Law (2006 – present)

All Service Areas


  • Loyola University Chicago School of Law (1970)
  • Loyola University of Chicago (1967)


  • State - Illinois

Notable Matters

  • Represents a large real estate services firm with international operations in connection with its sale to a strategic buyer with global offices.
  • Represents several portfolio gaming companies of private equity funds in corporate matters and sales transactions.
  • Assisted Board of Director members (including Audit Committee members) of two large NYSE and NASDAQ publicly-traded companies in connection with corporate governance and securities matters, the establishment of internal controls and procedures, conducting internal investigations and other corporate matters.
  • Represented the State of New York in connection with the selection and issuance of four gaming licenses.
  • Represented an NYSE-listed entity in connection with a going private transaction and oversaw the settlement of class action litigation in connection with the transaction.
  • Represented a large institutional investor in connection with reorganizing the capital structure of an entity owning casinos in multiple jurisdictions in Canada.
  • Assists several large gaming companies and institutional investors in connection with the acquisition, regulatory, and other gaming matters.
  • Represents cities in Massachusetts in connection with gaming matters.
  • Represents gaming companies, suppliers, investors, and institutional lenders in gaming matters.

Speeches and Publications

Referenced, “Lightfoot now holds all the cards on Chicago’s big casino deal,” Crain’s Chicago Business, Nov. 5, 2021.

Quoted, Rockford Register Star article, “Hard Rock Casino Rockford Faces Key Hurdle,”  Jan. 27, 2021.

Co-author, “Summary of Illinois Historic Gaming Expansion Bill – Updated,” Taft Law Bulletin, July 1, 2019.

Community Involvement

Cid has held numerous board positions including:

  • Served as a member of the board for 10 years for a group of real estate companies, initially affiliated with The Chicago Corp and A.G. Edwards, that consisted of a group of public-held entities that acquired, managed and disposed of various types of real estate properties.
  • Served as a member of the board for five years of a group of privately-held affiliated entities that developed and operated large-scale destination resort hotels and casinos.
  • Served as a member of the board for three years of a privately-held company with publicly-held bonds that operated the land-based casino in New Orleans.
  • Served as a member of the board for three years of a publicly-held company that owned and operated casinos in multiple jurisdictions under a national brand.
  • Serving on the board of a privately-held company that owned multiple casinos.
  • Served as a member of a special committee of the board of a company which operates the Indiana Toll Road.
  • Served as a Board member of three large publicly-held non-gaming companies.