City Axes 2 Proposals, Leaving 3 Finalists In Chicago Casino Race
Rivers Chicago McCormick and Bally’s McCormick Place are out, leaving Bally’s Chicago Tribune Publishing Center, Rivers 78 and Hard Rock One Central left as the remaining Chicago casino bids.
The McCormick Place convention centre complex is owned by the Metropolitan Pier and Exposition Authority, which has stated that it does not need to convert its buildings into a game. The town eliminated both McCormick Place proposals for this reason.
The Rivers McCormick bid’s leader, Scott Goodman, stated in a speech:
& ldquo, We were pleased to present a casino proposal that, when compared to all other bids andnbsp and taxpayer benefits, offers taxpayers more value than$ 1.5 billion. We want to congratulate the City of Chicago and MPEA for their concern, even though we are disappointed that this plan was not chosen to proceed. We wish the eventual winner and the entire city great success because Chicago & rsquo’s first casino will serve as both a popular gathering place for everyone to enjoy itself and an income source for local governments. & rdquo,
Previously, Mayor Lori Lightfoot’s administration said it hoped to choose a winning bidder by the end of the first quarter of 2022. That deadline will not be met, and early summer appears more realistic.
The winner will still need to submit an application for a license with the Illinois Gaming Board( IGB ) after the city selects he or she.
The city did hold community engagement meetings to discuss the remaining proposals after reducing the list to three.
Those may happen in the days that follow:
- April 5 in Hard Rock at the Harold Washington Library
- April 6 at the Tribune Publishing Plant, Bally & rsquo
- Rivers: Sadie Dorin and Isadore Forum on April 7.
The three remaining ideas, according to Lightfoot in a statement:
The core objectives we want to accomplish for the City & rsquo, the first integrated casino-resort, are best suited by & ldquo and Hellip. Each proposal improves the City & rsquo’s cultural, entertainment, and architectural scenes with world-class amenities and design while also providing Chicago with opportunities that are economic, employment – and equity-focused. & rdquo,
Is it possible to implement the Hard Rock Chicago proposition?
Hard Rock, which is currently in the process of building a new casino in Rockford, submitted a proposal that appeared far-fetched at first glance. But it may actually be more realistic than it seemed on the surface.
The bid for Hard Rock & rsquo depends on the construction of One Central, a proposed mixed-use development west of Soldier Field. Hard Rock Chicago, nevertheless, is free to move forward with One Central before anything is decided.
Jennie Bennett, Chicago’s chief financial officer, said:
The remaining portions of One Central are not required to advance in step one, according to the Hard Rock request. It & rsquo, is not reliant on federal funding. & rdquo,
But, One Central would still be required by Hard Rock to receive money in the future. Another potential problem is that McCormick Place, a momentary blackjack, is included in the Hard Rock proposal.
Bennett, however, asserted that Hard Rock is willing to adjust its momentary game place.
More information on the Bally & rsquo, Rivers, and proposals
For those who are unaware, here’s a quick rundown The various two requests are as follows:
- Between South Loop and Chinatown, along the Chicago River
- Cost:$ 1. 6 billion
- Yes, a steamboat has docked at the 78 creation site.
- Features: A 300-room lodge with bars, eateries, a food hall, an observation tower, and the waterfront plaza.
Tribune Publishing Center Bally & rsquo
- Near the north part
- Cost: Up to$ 1. 7 billion
- Yes, at the same location as the continuous game.
- Features: A 500-room hotel, Bally & rsquo’s Sports Bar, a sports museum in Chicago, bars, lounges, and pools on the rooftop.