Bally’s has submitted two proposals for casino-games in Chicago. Each proposal includes a 500-room hotel, six dining establishments, bars and lounges, a 70,000 square foot entertainment venue, and 20,000 square feet of exhibition space. The gaming floor would have 3,400 slots and 173 table games. The cost of construction at the Chicago Tribune Publishing Center site is estimated to be $1.8bn, or $1.6bn at the McCormick Place Truck Marshaling Yard.
Rush Street, under its Rivers brand, has also submitted two proposals. The first proposal, for Lakeside Center at McCormick Place, would cost $1.3bn and use the existing 2,900 hotel rooms, adding 250 more, and the updated Arie Crown Theatre with a seating capacity of 4,200. The property would also offer 12 restaurants, a food hall, bars and lounges, along with a casino featuring 2,600 slots and 190 table games. The second proposal is a $2.0bn development with 300 rooms, eight restaurant/cafes, a food hall, bars and lounges, a Riverfront plaza, an observation tower, and Harbor Hall, a multi-purpose riverfront venue. The casino in this development would have 2,600 slots and 190 table games.
Hard Rock International has submitted a bid for a $1.7bn resort with 500 rooms, eight eating venues, six bars and lounges, and a 3,500-seat Hard Rock Live entertainment venue. The casino in this development would feature 3,400 slots and 166 table games.
Chicago Mayor Lori E. Lightfoot expressed her enthusiasm for the proposals, stating that they align with the vision of creating a world-class experience in Chicago that will drive economic growth and employment opportunities.
The public presentation of the proposals will take place on 16 December, after which the city of Chicago will commence negotiations with the bidders. The proposals will undergo reviews by relevant city departments and agencies, and revisions can be made. Community meetings will be held to present any revisions, and the city will ultimately select its final applicant. The City Council will introduce an ordinance supporting the development, which will then need approval from the Chicago Plan Commission and the City Council’s Committee of Zoning, Landmarks, and Building Standards.
A gaming expansion bill signed into law in Illinois in 2019 allowed for the launch of sports betting and the expansion of the state’s casino industry. The bill also authorized the establishment of six new land-based casinos, including the one in Chicago. Licence fees for casinos and racetracks were set at $10m, while four-year online licences cost $20m. Chicago issued its Request for Proposals (RFP) in April of this year for an integrated resort, and the chosen partner will be the sole casino licensee in the city with an expected opening date of 2025.
