Show Me The Bidders: Chicago Casino Submissions Deadline Is Friday
Due primarily to operators’ lack of interest, Lightfoot extended the date.
She said in August:
& ldquo, By extending the deadline for interested bidders, the city will be able to gather as many strong, influential, and revolutionary proposals as it can. I’m eager to see these bids come in and to work closely with whichever team is ultimately selected to create Chicago & rsquo, the first-ever casino. & rdquo,
Caesars Entertainment, MGM International and Wynn Resorts have all said they’ll pass on the project.
But, on Tuesday, Hard Rock CEO Jim Allensaid his company is preparing to bid on the Chicago casino.
That & rsquo is significant because Hard Rock had previously kept its plans a secret. Additionally, it’s possible that there will be multiple responses to the RFP.
Here’s what else we know about the Chicago casino RFP bidding process going into Friday.
Rush Street is regarded as the preferred location for property licenses.
The first company to obtain a Chicago game passport has long been Rush Street Gaming.
At the National Council of Legislators from Gaming States (NCLGS) conference in July, Lightfoot attempted to squash rumors that it was a foregone conclusion, saying:
There has been a brief discussion about this, I & rsquo, m told. The RFP ( Request for Proposals ) is currently available. There aren’t any friends from home. For people across the nation who understands the value of being in a city like Chicago, we want to make sure we get the best-in-class options. & rdquo,
Rush Street’s headquarters are in Chicago. It is also a part-owner of Rivers Casino in Des Plaines, currently the most popular casino in Illinois.
Prior to Rush Street being the only bid, some people were concerned that it would cause political issues for Lightfoot.
Leslie Bluhm, the co-founder of Rush Street and one of Lightfoot & rsquo’s biggest political donors, is the mother of the band.
Alderman Brian Hopkins, 2nd ward, told Crain’s Chicago Business:
& ldquo, I believe there would be a lot of opposition if the mayor agreed to an agreement that would essentially be the sole source contract for something so important. & rdquo,
That’s where Hard Rock comes into play.
Hard Rock chairman Jim Allen recently said that the company is “reevaluating the opportunity.” On Tuesday, he went further, saying Hard Rock plans to submit casino bids on Chicago and New York City.
Before the media, it appeared that the Chicago casino’s 40 % effective tax rate might need to be fixed by the government.
That might be the case, according to Tom Swoik, executive director of the & nbsp, Illinois Casino Gaming Association.
He toldPlay Illinois in August:
& ldquo, I believe you’ll see an attempt to change the tax structure for Chicago once more in the upcoming session. & rdquo,
That might not be necessary in light of the Hard Rock disclosure.
More recent game news in Illinois
whereas the The Illinois Gaming Board ( IGB ) is making progress in two other areas while the Chicago casino process is taking a long time.
There are now two bids apiece remaining for the south suburban and Waukegan licenses. Last week, the IGB narrowed the south suburban list from four to two.
This week, the southern suburban applicants will have the opportunity to present to the board. The IGB may make final bids for each location by early January and provide a preliminary suitability andrdquo finding.
The final step before final approval is the eligibility getting.
As a result, there would be no concrete plans for the last fresh casino regions, Danville and Chicago. The winning requests for the permissions in Rockford and Williamson County have already been decided by the IGB.
The Rockford man, Hard Rock, is growing its existence in Illinois. Additionally, Hard Rock may be going all-in on the Land of Lincoln if it follows through on its Chicago game plan.