City Axes 2 Proposals, Leaving 3 Finalists In Chicago Casino Race

On Tuesday, Chicago reduced two megacasino proposals, reducing the total number of ideas from five to three.

The remaining bids for the Chicago casino are from Bally’s Chicago Tribune Publishing Center, Rivers 78, and Hard Rock One Central, following the withdrawal of Bally’s McCormick Place and Rivers Chicago McCormick.

The Metropolitan Pier and Exposition Authority, owner of the McCormick Place convention centre complex, has declared that it has no need to transform its buildings for game purposes. This led to the town rejecting both proposals for McCormick Place.

Scott Goodman, the leader of The Rivers McCormick bid, stated in a speech:

“We were delighted to present a casino proposal that, when compared to all other bids and benefits for taxpayers, offers more value exceeding $1.5 billion. We would like to commend the City of Chicago and MPEA for their vigilance, despite our disappointment that our plan wasn’t selected. We wish the eventual victor and the whole city great success as Chicago’s first casino will not only serve as a popular social hub but also as a revenue generator for local governments.”

Earlier, the administration of Mayor Lori Lightfoot announced their intention to select a winning bidder by the end of Q1 2022. However, this deadline will not be achieved, and a timeframe in the early summer seems more plausible.

After being selected by the city, the winner will still need to submit a license application to the Illinois Gaming Board (IGB).

After narrowing down the list to three proposals, the city held community engagement meetings to discuss the remaining ones.

The following may occur in the subsequent days:

April 5 in Hard Rock at the Harold Washington Library
• On April 6th at the Bally & rsquo Tribune Publishing Plant.
• Sadie Dorin and Isadore Forum discussed Rivers on April 7.

According to a statement by Lightfoot, the three remaining ideas are:

Our primary goals for the City, which is set to be the first integrated casino-resort, are perfectly aligned with the proposed plans. Each proposal is designed to enhance the City’s cultural, entertainment, and architectural landscape with top-tier facilities and design. Moreover, they offer Chicago a wealth of prospects centered on economic growth, job creation, and equitable opportunities.

Is it possible to implement the Hard Rock Chicago proposition?

Currently constructing a new casino in Rockford, Hard Rock has proposed an idea that initially seemed far-fetched. However, it may be more plausible than it initially appeared.

The bid for Hard Rock’s stake is contingent upon the construction of One Central, a proposed multipurpose development west of Soldier Field. However, Hard Rock Chicago has the liberty to proceed with One Central even before any decision is made.

Chicago’s chief financial officer, Jennie Bennett, stated:

“According to the request from Hard Rock, the remaining parts of One Central are not necessary to proceed with the first step. Furthermore, it is not dependent on federal funding.”

However, Hard Rock would still need One Central to receive future funds. Another possible issue is the inclusion of McCormick Place, a temporary blackjack, in the Hard Rock’s proposal.

However, Bennett insisted that Hard Rock is open to modifying its current game location.

More information on the Bally & rsquo, Rivers, and proposals

For those who might not know, here’s a brief explanation of the two different requests:

Rivers 78

• Along the Chicago River, between South Loop and Chinatown.
• Cost:$ 1. 6 billion
• Indeed, a steamboat has arrived at the 78 creation site.
• This lodge features 300 rooms, bars, restaurants, a food hall, an observation tower, and a waterfront plaza.

Tribune Publishing Center Bally & rsquo

• Near the north part
• Cost: Up to $1.7 billion
• Yes, at the same location as the ongoing game.
• Features include a 500-room hotel, Bally’s Sports Bar, a sports museum located in Chicago, various bars and lounges, as well as rooftop pools.