No Wynn For The Windy City: Chicago Casino Project Loses Out On Future Wynn Resorts Bid

According to a spokeswoman for Wynn Resorts, no plan for the Chicago game license will be made. The spokesperson declined to add any more details.

Wynn was among the four respondents to the initial Request for Information (RFI) from the city of Chicago, alongside Rush Street, Hard Rock, and MGM Resorts.

On the other hand, MGM has also announced that it will not be submitting a proposal for the license due to financial concerns. This was confirmed by MGM CEO Bill Hornbuckle in April when he stated:

“Chicago is simply challenging.”

The historical narrative of Chicago, the responsibility, and the concept of a large-scale integrated resort don’t consistently coincide. Although I think there have been advancements, we are not particularly concentrated or enthusiastic at this specific moment.

According to a source in the Wall Street Journal story, the development of the casino could exceed $1 billion. This hefty price tag, coupled with high tax rates, might deter some of the most renowned casino operators.

Currently, only RushStreet and Hard Rock are confirmed serious contenders as Wynn and MGM have withdrawn. However, even if a business does not respond to the RFI, it can still submit alternative proposals for Chicago casinos, thus increasing the number of bids.

Earlier, Wynn spokesperson Michael Weaver communicated to Crain’s Chicago Business about the project:

“We find it fascinating when a major city contemplates transitioning to gaming. Chicago fits that criterion.”

However, after learning more, Wynn has decided to pass.

Is Rush Street, hometown & rsquo, or & lSquo the preferred location for obtaining a casino license in Chicago?

Recently, at the National Council of Legislators from Gaming States in Chicago, Mayor Lori Lightfoot discussed the future casino. She made a point to mention that the choice of operator is not a predetermined decision.

I’m informed that there has been a brief discussion about this. There is significant scope for this Request for Proposals (RFP). Unfortunately, no friends from home are available. We want to ensure that we get the top-tier options for individuals nationwide who appreciate the benefits of living in a city like Chicago.

This probably refers to Rush Street, based in Chicago. Rush Street also holds a substantial share in Rivers Casino in Des Plaines, which is currently the most frequented casino in Illinois.

Despite Lightfoot’s comments, it seems that Rush Street will ultimately secure the license. If you remove two of the interested businesses, it boils down to a numbers game. It’s in the best interest of both Lightfoot and the city to receive as many proposals as possible.

What else is known about Chicago’s upcoming game?

The job will not only be a casino but also a beach. This means that the building will be surrounded by hotel rooms and an entertainment neighborhood.

At least, that’s what the city wants. If there were more proposals, the area might have a better opportunity to realize its vision.

At present, we are uncertain about the prospective location of the game in Chicago. This is a vital element in any bidder’s proposal and calculations.

Conversations were circulating about situating the casino on either the south or west side of the city. However, it is probable that operators will conclude that a central downtown location holds greater potential for revenue.

Lightfoot declared:

We look forward to offering you a unique gaming and entertainment experience that you can’t find anywhere else in the area. Without a doubt, this is our expectation. We’re committed and heading towards this direction.

The town aims to commence the game by 2025. In the meantime, a temporary service might be established, contingent on the operator.

The city plans to select a fee this spring, with proposals due by August 23. Nonetheless, it remains uncertain about the number of options that will be available in the area at this point.