Chicago receives proposals for large casino project
The project would give sole casino license in America’s third-largest market.
The city of Chicago has received five proposals for an integrated casino and resort to be built in the heart of the Midwestern metropolis. With only one casino license to be dispensed for the nation’s third-largest city, competition is expected to be steep as developers and operators try to tap into a market where they would be the sole casino.
Among the proposals the city is now going to sift through are: HR Chicago, a single site to be managed by Hard Rock International; Rivers Chicago at McCormick, a single site to be managed by Rush Street Gaming; Rivers 78 Gaming, a single site to be managed by Rush Street Gaming; and Bally’s Corporation, which submitted two proposals for two different sites both of which would be self-managed.
Bally’s proposal would be its flagship location. With an estimated price tag of $1.6bn, the project would include more than 5,000 gaming positions, a 400-room luxury hotel, a rooftop pool and bar, a spa, a 3,000-seat entertainment venue, and fine dining.
Bally’s proposal has also emphasized the diversity of the workforce: working with community organizations and the City Colleges of Chicago, Bally’s has committed to hiring for 30% vendor diversity, 45% women, 45% minority, 5% veterans and 5% people with disabilities.
Whoever wins the license will be able to operate a temporary casino for up to 24 months (with the ability to extend for up to 12 months) while the permanent site is being constructed.
The project would mark the culmination of a 30-year effort to build a casino in the city. An attractive market, Chicago has a population of nearly 10 million and saw 60 million domestic tourists come in 2019. Conveniently located at the heart of North America, O’Hare International Airport is among the busiest in the world.
Chicago mayor Lori E. Lightfoot cited the economic lift such a huge project could bring the city: “The submission of bid responses represents a major step toward the thoughtful development of a casino resort that uplifts our businesses, employs and empowers our residents and encourages tourism. We look forward to the next phase of discussions to bring this world-class entertainment space to our city.”
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