Full House Resorts is in limbo as it awaits Illinois Governor J.B. Pritzker's signature on an extension for the development of its permanent Waukegan-based casino.
Despite proposed plans being in the pipeline for some time, the development will only be possible with approval from the Governor.
Alex Stolyar, Full House’s SVP and Chief Development Officer, stated: “We can’t get financing while the litigation is outstanding. Everything is on pause until the litigation is resolved against the city and the state.”
The extension request gives insight into the regulatory landscape surrounding the gaming industry, where governmental support and legal approvals play a key role in shaping the future of casino projects.
By seeking the required permissions, Full House Resorts has navigated this landscape to move forward with visions for a permanent casino establishment in Waukegan.
Stolyar went on to say “As long as Full House can show the board 'good cause' why it needs more time to complete its plans and begin construction, it can get an extra year or another period of time deemed necessary.”
Governor Pritzker's signature holds the key to ensuring the next development phase goes ahead. This extension will provide the company with the required timeframe and regulatory support to bring plans to fruition, and is deemed a critical step in the process.
The casino development in Waukegan could prove a potential economic boom for the local community, as well as a significant investment for Full House Resorts. If passed, both additional revenue streams and job opportunities can be expected.
While awaiting the Governor's decision, Full House Resorts remains optimistic about the prospects of its Waukegan casino project. After nearly nine months of operations Stolyar said, the casino’s business continues to show improvement and hopes the third restaurant — North Shore Steak and Seafood — will open by the end of the year.
