Chicago to have casino-resort; selection process is on
In order to develop a world-class experience in the City of Chicago that will push the economy and drive employment opportunities for the city communities, it is planned to build a casino-resort. It will add entertainment experience in the city and become a tourist attraction.
Last week, the City of Chicago released a summary that includes five proposals ranging in value from $1.3 to $2.0 billion. Each of the proposals are created in line with the city vision to develop the city and is a unique project that can benefit local communities and city view.
The five proposals were offered by Rivers Gaming LLC, Rivers Chicago at McCormick LLC, HR Chicago LLC, and Bally’s Corporation. All the applicants will publicly present their projects on December 16. The presentations will include the general view of the projects, location, timing forthcoming, and development plans that should be completed in phases.
Meanwhile, the projects will be reviewed under discussions by the committees that include experts represented by city department leaders. The Proposal Review Team will determine the recommended winning bidder. After that, Mayor Lori Lightfoot and City Council will approve the final decision.
The proposals are the following (In alphabetical order):
- Bally’s Corporation, Proposal #1: $1.8 billion property in the Chicago Tribune Publishing Center with 500 rooms; six restaurant/cafes and a food hall; three bars and lounges; 3,000-seat, 70,000 sq. ft. entertainment venue; 20,000 sq. ft of exhibition space; outdoor/rooftop green space including bars, lounges and pools; 3,400 slots and 173 table games.
- Bally’s Corporation, Proposal #2: $1.6 billion property in McCormick Place Truck Marshaling with 500 rooms; six restaurant/cafes and a food hall; three bars and lounges; 3,000-seat, 70,000 sq. ft. entertainment venue; 20,000 sq. ft of exhibition space; outdoor/rooftop green space including bars, lounges and pools; 3,400 slots and 173 table games.
- HR Chicago, LLC: $1.7 billion property from Hard Rock International at ONE Central project site with up to 500 rooms, eight restaurant/cafes and a food hall, six bars and lounges, 3,500-seat Hard Rock Live, Rock Spa, Hard Rock Music and Entertainment Experience, 3,400 slots and 166 table games.
- Rivers Chicago at McCormick, LLC: $1.3 billion property at Lakeside Center at McCormick Place managed by Rush Street Gaming, LLC utilizing McCormick Place’s 2,900 hotel rooms with ability to add 250 or more additional rooms; 12 restaurant/cafes including a food hall; four bars and lounges in addition to full bars at seven restaurants; 4,200-seat updated Arie Crown Theater; direct covered access to McCormick Place Convention Center; dramatic lakefront setting with outdoor dining, entertainment and other lakeside programming; 2,600 slots and 190 table games.
- Rivers 78 Gaming, LLC: $2.0 billion property managed by Rush Street Gaming, LLV in the eight-acre riverfront entertainment district at the northern end of the mixed-use 78 neighborhood with 300 rooms; eight restaurant/cafes and a food hall, five bars and lounges; Riverfront plaza; Observation Tower with indoor/outdoor viewing space; Harbor Hall multi-purpose riverfront venue for live entertainment, culture/arts and community programs with rooftop space; 2,600 slots and 190 table games.
The holder of the Chicago owner’s license can run a temporary casino for 12 months with another 12-month extension, and only after that to get permission to operate a permanent casino in the city. All the applicants must meet the state’s licensing requirements and hold the owner’s license.
