A spokeswoman for Wynn Resorts stated that they have no plans to pursue the Chicago game license and declined to provide further information.
Wynn, Rush Street, Hard Rock, and MGM Resorts were the four respondents to the city of Chicago’s initial Request for Information (RFI).
MGM CEO Bill Hornbuckle confirmed in April that due to financial concerns, MGM will not be submitting a proposal for the license.
“Chicago is simply challenging.”
The historical narrative of Chicago, the responsibility, and the idea of a large-scale integrated resort do not always align. While there have been some improvements, we are not currently focused or enthusiastic about this concept.
As reported by a Wall Street Journal source, the cost of developing the casino could potentially surpass $1 billion. This substantial expense, along with the high tax rates, may discourage well-known casino operators from pursuing the project.
RushStreet and Hard Rock are the only confirmed serious contenders for Chicago casinos, as Wynn and MGM have pulled out. However, businesses that do not respond to the RFI can still submit alternative proposals, potentially increasing the number of bids.
Michael Weaver, a spokesperson for Wynn, previously informed Crain’s Chicago Business regarding the project.
“We are intrigued by the idea of a major city like Chicago considering a transition to gaming.”
But, after gaining further knowledge, Wynn has chosen not to proceed.
Is Rush Street, hometown & rsquo, or & lSquo the preferred location for obtaining a casino license in Chicago?
Mayor Lori Lightfoot addressed the National Council of Legislators from Gaming States in Chicago, discussing the upcoming casino and emphasizing that the selection of operator is not predetermined.
I have heard that a short conversation took place regarding this matter. The Request for Proposals (RFP) offers great potential for various opportunities. Regrettably, none of our acquaintances from home are able to assist. Our goal is to secure the best possible options for individuals across the country who value the advantages of living in a vibrant city such as Chicago.
This likely pertains to Rush Street Gaming, a Chicago-based company that also has a significant ownership stake in Rivers Casino in Des Plaines, the most popular casino in Illinois.
Lightfoot’s remarks notwithstanding, it appears that Rush Street will ultimately be granted the license. With two competitors eliminated from consideration, it comes down to a matter of numbers. It is advantageous for both Lightfoot and the city to consider as many proposals as possible.
What else is known about Chicago’s upcoming game?
The location will offer more than just a casino – there will also be a beach, surrounded by hotel rooms and an entertainment district.
The city’s desire is for more proposals to be submitted, as this would provide the area with a greater chance of achieving its vision.
Currently, the exact location of the game in Chicago is unknown. This information is crucial for all bidders when preparing their proposals and estimates.
Discussions were ongoing about where to place the casino, with options including the south or west side of the city. However, it is likely that operators will decide that a central downtown location offers the most revenue potential.
Lightfoot declared:
We are excited to provide you with a one-of-a-kind gaming and entertainment experience that is unmatched in the area. This is our goal and we are dedicated to making it a reality.
The town’s goal is to start the game by 2025. However, a temporary service may be set up in the meantime, depending on the operator.
The city intends to finalize a fee selection process this spring, with proposals to be submitted by August 23. However, the number of available options in the area is still uncertain at this time.
