Hard Rock Casino To Take Another Hard Look At Possible Chicago Bid
An executive from Hard Rock confirmed earlier this week that the business is considering the possibility of bidding for the chance to operate a game in the heart of Chicago. However, those hoping for a game in that area shouldn’t read any further into that opinion.
A Chicago Hard Rock Casino
Jim Allen, the chairman of Hard Rock, made a statement of this nature that has substantial ramifications. Allen only stated that the business is currently reassessing the prospect.
Like the majority of other casino providers up to this point, Hard Rock might still succeed. However, there is still hope for the city and state as long as there are businesses with perhaps a passing attention.
The Chicago casino project came to life as part of the same gambling expansion that created legal sports betting in Illinois. Hard Rock is already part of that round of expansion, winning a bid to build a casino in Rockford.
It also seized control of Gary‘s Hard Rock Northern Indiana next month. A Hard Rock Casino in the heart of Chicago had so create three properties in a 200-mile radius.
Allen claimed that just being close to the two other amenities wouldn’t be enough of a barrier. That’s good news for the city, & rsquo. Additionally, it arrives at a time when the project’s prospects were dwindling.
Chicago widens its nets to entice bidders
Earlier this month, the city postponed a deadline for bids to Oct. 29. The previous cutoff date was Aug. 23. The reason for the extension? A lack of interest.
Mayor Lori Lightfoot said she believes the extra time will allow potential bidders to evaluate the opportunity further. So far, it looks like she was right to whatever extent Hard Rock follows through on Allen’s comments.
Other entertainment companies like Caesars, MGM and Wynn confirmed it doesn’t plan to submit bids for downtown Chicago. Among the reasons they gave was that the tax schedule is too onerous and the cost to build the facility is too high.
The only bid might come from the business that already runs the only game in the greater Chicago region( on the IL part ) if Hard Rock decides to move as well. Rush Street Gaming is based in Chicago and is called That & rsquo.
Had Rush Street ultimately have the upper hand?
Rush Street operates the RiversCasino in DesPlaines.
If the city has no other bidders, there’s little reason for Rush Street to make a lucrative offer to the city, especially considering the 40% tax rate and estimated $1 billion development cost.
Rush Street has made a bet, so it goes without saying that vicinity isn’t an problem. The town has extended the deadline in an effort to attract some business and prevent it from having to give Rush Street anything. It aspires to bring about the game.
Hard Rock appears to be a potential warrior. But at this point, it’s very early to make plans for such a recovery. The area may become sandwiched between two rocks if Hard Rock passes.