Show Me The Bidders: Chicago Casino Submissions Deadline Is Friday

Chicago Mayor Lori Lightfoot extended the Request For Proposal (RFP) deadline for Chicago casinos in August by approximately two months. The new deadline is now Friday, October 29th, and it seems that Hard Rock has met the requirements.

The date was extended primarily due to the operators’ lack of interest, according to Lightfoot.

She said in August:

Extending the deadline for potential bidders will allow the city to gather a wide range of strong, creative, and impactful proposals. I am eager to review these submissions and collaborate with the selected team to set up Chicago’s inaugural casino.

Caesars Entertainment, MGM International, and Wynn Resorts have all confirmed that they will be taking on the project.

Yet, Hard Rock CEO Jim Allen declared on Tuesday that his company is preparing to submit a bid for the Chicago casino.

The importance of that lies in the fact that Hard Rock had hidden its plans before. Additionally, it is likely that the RFP will receive numerous responses.

As we head into Friday, here is some more information regarding the RFP bidding process for the Chicago casino.

Rush Street is regarded as the preferred location for property licenses.

For years, Rush Street Gaming has been the first company in Chicago to obtain a gaming license.

Lightfoot attempted to debunk any speculation that a decision had already been reached during the NCLGS conference in July.

I have been told that a brief discussion has already occurred on this matter. The Request for Proposals (RFP) is now open for review. It has been observed that there are no local connections involved. For individuals across the country who understand the benefits of living in a city like Chicago, our goal is to select the top available choices.

Rush Street’s headquarters are in Chicago, and they have partial ownership of Rivers Casino in Des Plaines, the most popular casino in Illinois.

There were concerns about potential political problems for Lightfoot if Rush Street was not the only bidder.

Leslie Bluhm, co-founder of Rush Street and a significant political donor to Lightfoot, is the mother of the band.

Brian Hopkins, the Alderman representing the 2nd ward, stated in an interview with Crain’s Chicago Business:

I believe there would be strong opposition if the mayor agreed to a contract that essentially gives exclusive rights to something so important.

This is where Hard Rock comes into play.

Jim Allen, the chairman of Hard Rock, recently announced that the company is reassessing their options. He further explained on Tuesday that Hard Rock plans to submit bids for casinos in both Chicago and New York City.

Before being covered by the media, there was a possibility that the government would have to address the 40% effective tax rate of the Chicago casino.

Tom Swoik, the executive director of the Illinois Casino Gaming Association, suggests that this could be true.

He said to play Illinois in August.

I anticipate that there will be another effort to modify Chicago’s tax system in the next session.

The disclosure from Hard Rock may make that unnecessary.

More recent game news in Illinois

The Illinois Gaming Board (IGB) is making progress in two other areas while the process for the Chicago casino continues to be lengthy.

There are currently two bids remaining for both the south suburban and Waukegan licenses. The IGB recently decreased the south suburban list from four to two bids.

This week, candidates from the southern suburbs will have the opportunity to present their proposals to the board. By early January, the IGB could potentially finalize bids for each location and make an initial assessment of their suitability.

Obtaining eligibility is the final step before final approval.

As a result, there are currently no specific plans for the remaining casino areas in Danville and Chicago. The Illinois Gaming Board has already approved applications for new casinos in Rockford and Williamson County.

Owned by a Rockford native, Hard Rock is increasing its footprint in Illinois. With plans to implement a strategy in Chicago, it seems the company is all in on the Land of Lincoln.