Developers Tout Their Billion-Dollar Chicago Casino Resort Proposals to the Public

CHICAGO – Residents inward the Windy City got a chance Th to hear flat from the evolution teams behind the pentad projects vying for Chicago’s gambling casino license.

The public presentations at the Isadore and Sadie Dorin Forum at the University of Land of Lincoln at Chicago are division of the selection outgrowth that metropolis leaders are using to ascertain a finalist and lay out that externalise to the Land of Lincoln Gaming Board for licensure.

The metropolis tried for years to receive a cassino and finally secured a license when the Prairie State legislative assembly passed an expanded gaming government note in 2019. Tax revenues generated by the Chicago gambling casino resort testament live used to compensate land the city’s public pension liability.

But the urban center has faced some challenges just to capture to this point. After the 2019 vizor was passed, in that location were serious concerns well-nigh the effectual tax rank not beingness feasible. That was amended through and through additional legislation, but on that point were worries that the call for for proposal the city released inwards Apr would non draw in bidders. City officials opted to poke out the deadline by to a greater extent than deuce months to Oct. 29 and encouraged gaming companies to contact them about the opportunity.

Mayor Lori Lightfoot, in her opening remarks for the six-hour-plus session Thursday, thanked the gaming companies and development teams for betting on the city.

“We are non going to waste matter this opportunity,” she said. “We are going to maximize it for the do good of our residents to pee sure that we secure our financial future.”

Three gaming operators – Bally’s Corp., Hard John Rock International, and Benjamin Rush Street Gaming – ended up submitting proposals, with Bally’s and Rush Street offering the metropolis 2 proposals each.

Diversity and Inclusion Francis Scott Key Topics for Discussion

Among the topics the developing teams discussed during their presentations was their consignment to diversity and inclusion.

Jim Reynolds, founder, chairman, and CEO of Loop Capital, is a partner inwards the Hard Rock proposition at ONE Central, said that a paint to providing to a greater extent opportunities for minority communities is by having an ownership interestingness in the project.

Equity is the key,” he said. “If you’re non in the equity chair, you don’t parkway those determination to say, ‘We’re sledding to focalize on that mathematical group of folks. We’re going to pass the money on that mathematical group of folks.’

“In our project, I’m at the table.”

2025 Target Opening Date for Windy City Casino

Lightfoot has said she wants the Chicago casino’s permanent readiness to open up by 2025. A temporary gambling casino would live allowed to control for upwardly to II years as the resort hotel is constructed. Lightfoot and the metropolis hope to hold a finalist picked in the first off half of 2022.

The fivesome projects lay out inwards size of it of investiture from $1.3 1000000000000 to $2 billion. The list of one-armed bandit machines vary from 2,600 at the II Rush Street projects to 3,400 at Hard John Rock and the II Bally’s bids. Rush Street is proposing to proffer 190 tabulate games, compared to 173 for Bally’s and 166 for Hard Rock.

Four of the quintet projects would include hotels. The only unity that does non is Benjamin Rush Street’s Rivers Chicago at McCormick. That developing would utilize the 2,900 hotel rooms inward the neighbourhood of McCormick Place, the city’s pattern center. Rivers Chicago, though, could expand and add 250 hotel rooms, if the exact was there.

This weekend, Casino.org testament publish articles nigh apiece of the presentations and the impact they would experience inwards Chicago.

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