Chicago Casino Update: Downtown Is Prize Location For Most Potential Operators
The city of Chicago has released a summary of responses to its August Request For Information (RFI), and most of the potential operators would prefer a downtown casino location.
Eleven businesses responded to the RFI, and eight of them stated that they would like to construct the game in or close to city. One suggested a spot on the south side, close to Lake Calumet.
The people omitted to mention a preferred area.
Among the responders were well-known providers like Rush Street Gaming, Wynn Resorts, Hard Rock International, and MGM Resents International. Rivers Casino in Des Plaines is even owned by Rush Street.
It’s no surprise that potential operators prefer a downtown location. Illinois Gov. JB Pritzkerhas advocated for the south or west sides in the past to spur economic development, but a downtown hub has better financial prospects.
Even though the operation is sluggish, the Chicago game project is finally beginning to pick up some heat.
Momentary game in Chicago in the near future?
Six respondents stated in the conclusion that they would prefer to run a momentary casino while constructing their larger, more permanent facility.
First cash flow, in their opinion, would aid in the cost of the continuous service. They also mentioned the generation of jobs and first taxation. The ability to build a dependable user bottom as soon as possible would be an additional advantage.
Three of the respondents opposed a makeshift game. They mentioned the potential business uncertainty and the additional costs associated with constructing a temporary service.
This topic was left unanswered by two responders.
How long would it take to build the everlasting game? It may take anywhere from 24 to 36 month, according to respondents.
They don’t anticipate COVID-19 having much of an impact on the selection or licensing of the facility, as good vaccine news keeps coming.
All responders thought it would be better to renovate an existing game than to build a brand-new one.
Additionally, they all concurred that it ought to be somewhere other than the continuous site.
The majority of respondents concurred that the game may have a resort.
One person objected, stating that it would immediately apply hotels in the Chicago area. However, it hinted that it might eventually construct a hotel.
All of the respondents agreed that it was crucial for the casino to serve as a versatile facility. They predict that the game floors will be between 100,000 and 200,000 square feet.
Numerous game reports in Illinois in late 2020
It’s been a busy couple of months in terms of Illinois casino updates, to say the least.
In November, Pritzker shut down the state’s 10 casinos in an effort to prevent the spread of COVID-19. Illinois has become a viral hot spot over the last month.
Pritzker has closed Illinois gambling twice in 2020, with the first phase starting in March.
And in late October, the Illinois Gaming Board (IGB) chose not to issue decisions on several casino license applications. Instead, eight applicants amended their applications.
It was a contentious decision because the IGB was said to have one month to decide after programs were submitted.
Chicago, Danville, Williamson County, Waukegan, Rockford, and the southern cities of Illinois are all eligible to have six innovative gambling built as a result of the 2019 Illinois Gambling Act.
No fresh licenses have been issued as of yet. Chicago may still be the most recent member of this group, but not by much.