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

CHICAGO – Residents inwards the Windy City got a chance Th to hear straight from the developing teams behind the cinque projects vying for Chicago’s cassino license.

The public presentations at the Isadore and Sadie Dorin Forum at the University of IL at Windy City are portion of the selection process. City leaders are using it to determine a finalist and lay out that throw to the IL Gaming Board for licensure.

The urban center tried for years to capture a casino, and eventually secured a permission when the Illinois legislative body passed an expanded gaming bill inwards 2019. Tax revenues generated by the Chicago cassino resort testament live used to pay knock down the city’s public pension off liability.

But the metropolis has faced some challenges just now to acquire to this point. After the 2019 vizor was passed, in that location were serious concerns most the effective revenue enhancement order not beingness feasible. That was amended through and through additional legislation. But thither were worries that the quest for proposition the metropolis released inward April would non attract bidders. City officials opted to reach out the deadline past to a greater extent than II months to Oct. 29, and encouraged gaming companies to contact them well-nigh the opportunity.

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

“We are not going to run off this opportunity,” she said. “We are going to maximise it for the welfare of our residents to spend a penny trusted that we untroubled our financial future.”

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

Diversity and Inclusion Key Topics for Discussion

Among the topics the development teams discussed during their presentations was their commitment 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 cay to providing to a greater extent opportunities for minority communities is past having an ownership interest inwards the project.

Equity is the key,” he said. “If you’re non inward the equity chair, you don’t aim those determination to say, ‘We’re going to centering on that radical of folks. We’re going to pass the money on that aggroup 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 facility to unresolved past 2025. A temporary casino would live allowed to operate for upward to ii years as the resort is constructed. Lightfoot and the city go for to make a finalist picked inwards the foremost half of 2022.

The quint projects chain of mountains in sizing of investment from $1.3 one million million to $2 billion. The number of one-armed bandit machines vary from 2,600 at the ii Benjamin Rush Street projects to 3,400 at Hard John Rock and the two Bally’s bids. Benjamin Rush Street is proposing to offering 190 tabular array games, compared to 173 for Bally’s and 166 for Hard Rock.

Four of the V projects would include hotels. The only if ace that does not is Rush Street’s Rivers Windy City at McCormick. That evolution would utilize the 2,900 hotel rooms inwards the neighborhood of Cyrus Hall McCormick Place, the city’s pattern center. Rivers Chicago, though, could spread out and append 250 hotel rooms if the demand was there.

This weekend, Casino.org will publish articles most for each one of the presentations and the wallop they would make inward Chicago.

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