Officials select 3 finalists for the Billion-Dollar Project Chicago Casino – NBC Chicago
The process to bring a casino to the city of Chicago passed another major milestone on Tuesday, as Mayor Lori Lightfoot’s office announced that three bidders have now moved on to the next stage in the competition for a license.
The license, the only one approved for the city by the state government, will now be the subject of a competition between Bally’s Corporation, Hard Rock and Rivers 78, according to a press release.
“We have spent countless hours analyzing each Chicago casino licensing proposal and have determined that Bally’s Tribune, Hard Rock Chicago and Rivers 78 best align with the fundamental goals we want to achieve for the city’s first integrated casino resort. city,” Lightfoot said in a statement. .
City officials expect the casino site to generate approximately $400 million in revenue annually, while supporting the city’s tourism industry and economic development initiatives.
Chicago officials also provided a breakdown of each potential casino project:
Bally’s Corporation (grandstand site) – Bally’s has proposed a $1.74 billion casino and hotel project, which would be located on part of the Tribune publishing plant site in the River West neighborhood.
The proposal includes a 3,000-seat theater, a sports museum, an extension of the Chicago Riverwalk, a pedestrian bridge, a 500-room hotel, a concert hall and outdoor park, and six different restaurants.
The proposal would provide space for around 3,400 slot machines and over 150 gaming tables.
A temporary casino would open in 2023, with the permanent location expected to open in early 2026.
Hard Rock (ONE central site) – Hard Rock offers a $1.74 billion casino just north of McCormick Place on Chicago’s lakefront. The proposal would include a 3,500-seat concert hall, a 500-room hotel tower, restaurants and six different bars and lounges.
According to officials, more than 3,000 slot machines and 166 gaming tables would be included in the plans.
Hard Rock officials said they will open a temporary casino in mid-2023 and a permanent casino by the end of 2025.
Rivers (78) – Rivers 78 includes a $1.62 billion casino project on the site known as “The 78”, a large development on Chicago’s South Side. The proposal would include a waterfront area, an observation tower, a waterfront venue for performances, a 300-room hotel tower and eight different restaurants.
The site would include room for more than 2,600 slot machines and 190 table games.
A temporary casino could open at the site in early 2024, while the permanent location would open in late 2025, officials say.
According to city officials, community engagement meetings will be held in early April, giving residents the opportunity to make public comments and ask questions of developers. Meetings will be streamed live and in-person priority will be given to residents who live in the projects’ respective zip codes.
Once this process is complete, the finalists will be evaluated by city officials and a winning bid will be chosen following this process. The Chicago City Council and the Illinois Gaming Board will need to approve any chosen bid.