Chicago eliminated two megacasino proposals on Tuesday, narrowing down the total number of ideas from five to three.
After Bally’s McCormick Place and Rivers Chicago McCormick withdrew their bids, the remaining contenders for the Chicago casino project are Bally’s Chicago Tribune Publishing Center, Rivers 78, and Hard Rock One Central.
The owner of the McCormick Place convention centre complex, the Metropolitan Pier and Exposition Authority, has stated that it does not plan to modify its buildings for gaming purposes. As a result, the town has turned down both proposals for McCormick Place.
During his speech, Scott Goodman, the head of The Rivers McCormick bid, proclaimed:
We were thrilled to put forward a casino proposal that, after comparing it to all other bids and considering the benefits for taxpayers, provides more than $1.5 billion in value. We want to applaud the City of Chicago and MPEA for their careful consideration, even though we are disappointed that our proposal was not chosen. We wish the winner and the entire city much success, as Chicago’s first casino will not only be a popular social destination but also a source of revenue for local governments.
Previously, Mayor Lori Lightfoot’s administration had planned to choose a winning bidder by the end of the first quarter of 2022. However, it is now unlikely that this deadline will be met, and a more realistic timeframe in early summer is being considered.
Once chosen by the city, the winner must also complete a license application for approval by the Illinois Gaming Board (IGB).
After selecting three proposals, the city conducted community engagement meetings to discuss them further.
The following events may happen in the days to come:
- April 5 in Hard Rock at the Harold Washington Library
- The event will take place on April 6th at the Bally Tribune Publishing Plant.
- On April 7, Sadie Dorin and Isadore Forum had a discussion about rivers.
Lightfoot stated that the three remaining ideas are:
The City’s primary objectives for the first integrated casino-resort are in complete alignment with the proposed plans. Each proposal aims to elevate the City’s cultural, entertainment, and architectural offerings with high-quality facilities and design. Additionally, these proposals present Chicago with numerous opportunities for economic development, job creation, and fair chances for all.
Is it possible to implement the Hard Rock Chicago proposition?
Hard Rock’s initial idea for constructing a new casino in Rockford may have seemed far-fetched at first, but upon further consideration, it appears to be a more plausible plan than originally thought.
The bid for Hard Rock’s stake is dependent on the completion of One Central, a proposed multipurpose development located west of Soldier Field. However, Hard Rock Chicago has the option to move forward with One Central even before a final decision is reached.
Jennie Bennett, Chicago’s chief financial officer, declared:
Hard Rock has requested that the remaining parts of One Central are not needed to move forward with the first step. Additionally, federal funding is not a requirement for this project.
Nevertheless, Hard Rock will still require One Central to secure additional funding in the future. Another potential concern is the incorporation of McCormick Place, a temporary blackjack, in the Hard Rock’s proposal.
Bennett emphasized that Hard Rock is willing to make changes to its current game location.
More information on the Bally & rsquo, Rivers, and proposals
For those unfamiliar, here is a brief explanation of the two distinct requests:
Rivers 78
- Between South Loop and Chinatown, along the Chicago River.
- Cost:$ 1. 6 billion
- Yes, a steamboat has reached the construction site at 78.
- This lodge includes 300 rooms, as well as bars, restaurants, a food hall, an observation tower, and a waterfront plaza.
Tribune Publishing Center Bally & rsquo
- Near the north part
- Price: Could reach $1.7 billion
- Yes, in the same place as the game currently being played.
- The hotel boasts 500 rooms, along with Bally’s Sports Bar, a sports museum in Chicago, multiple bars and lounges, and rooftop pools.
