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3 Bidders Shortlisted for the New Billion-Dollar Casino License in Chicago
Chicago city has finalized three bidders for the next stage of the bidding process for the City’s first casino license. Chicago Mayor, Lori E. Lightfoot announced the names of the three shortlisted bidders on Tuesday, March 22, 2022.
Bally’s Corporation at the Tribune site, Hard Rock at the ONE Central Site, and River 78 at the 78 Site are among the shortlisted bidders for the next stage. The City aims to develop a luxurious, lucrative Casino Resort and entertainment experience in Chicago. The city will choose a final proposal from these three as the operator and developer of the Casino and it will submit that proposal to the City Council for approval.
The City’s Casino will also create many jobs and it will generate gaming and other revenues of approximately $400 million a year for Chicago City and the State of Illinois. Moreover, it will also play an important role in supporting the city’s tourism industry, finance, job growth, and economic development. This casino will enhance the architectural culture and the property values in the surrounding area.
Below is the information about the finalists of the bidding process.
The Bally’s Corporation’s proposal includes a $1.74 billion hotel and a Casino on a portion of the Tribune Publishing Plant with the following units:
- 500 key Hotel tower
- Pedestrian Bridge
- 300-seat theater
- Immerse Agency Exhibition Site
- Riverwalk Extension
- Outdoor Music Space
- Outdoor Park
- Amenity Terrace with a Food Hall
- Multiple Cafes
- Six Restaurants
- Sun Deck
- Fitness Center
- Pool Spa
This Casino will provide 3,400 slots and 173 table games. It will also add 9,750 construction jobs and 2,002 permanent casino jobs. The temporary casino will open in the second quarter of 2023 and the permanent casino will be functional in the first quarter of 2026.
Hard Rock-ONE Central Site
The HR Chicago, LLC (“Hard Rock”) proposal mentions developing a $1.74 billion casino project on a portion of ONE Central site, a proposed development north of the MPEA convention center on the lakefront.
Hard Rock’s proposal has the following modules:
- 3,500-seat Hard Rock Live venue
- A ‘Rock’ Spa
- Rooftop Space
- Outdoor Green Lawn
- Multiple Restaurants
- Different Cafes
- A Food Hall
- Six Bars and Lounges
Moreover, there will be space for 3,000 slots and 166 table games. Hard Rock also hopes to create 166,607 construction jobs and 3,410 permanent casino jobs. The bidder also aims to open a temporary casino in the second quarter of 2023, and the permanent Casino will be complete in the third quarter of 2025.
The Rivers 78 is willing to develop a $1.62 billion casino project on a portion of “The 78” site. Moreover, this site is on the near south side of the City.
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