More Details Emerge on Chicago Casino Proposals

Chicago casino proposals

Five proposals have been submitted in Chicago to create a casino from three different companies hoping to be selected for licensing.

The process of bringing a casino to Chicago is moving forward. Five bids were provided to city officials from three different companies. These proposals are currently being reviewed and hopefully, one will be chosen by officials to become the licensed gambling facility in the big city. Each proposal offers something different, and details of each proposal were recently made public.

Proposal Review

Of the five proposals, Hard Rock International is one of the more recognizable names. The company wants to add a casino in Chicago near Soldier Field. Its plan known as One Central development will cover 35 acres of a train yard. This will include retail space, dining, and entertainment options.

The One Central plan was originally created to build a large where people can live as well as provide office space along with the dining, retail, and entertainment options. A casino could anchor the space, but such a large plan might not sit well with city officials.

One problem with the plan is that Landmark Development says it needs $6.5 billion in state financing over a two decade time frame to pay for the project.

Bally’s is also in the mix, with not one, but two plans. Both options are pretty much identical and would cost $1.6 billion to create. One site is located at Freedom Center and the other at McCormick Place Truck Marshaling Yard. The second plan may come up against resident opposition due to the location for the casino.

Rush Street Gaming is also interested in Chicago, set to provide a casino at Lakeside Center. The fifty year old property has over 580,000 square feet of exhibit space that would work well for casino venue. The property is also nearby hotels, which allows for overnight stays.

Rush Street is also working with Related Midwest to propose a casino at The 78, which is a mega development consisting of 62 acres near the Chicago River. Officials behind the project feel that out of the proposals, this one would produce the most income due to its location.

Wait and See

Now, we have to wait and see which proposal will be chosen by officials in Chicago. Not every plan provides a price point as to what would be spent and what the venue could contribute to the local economy.

Most of the plans look to develop property that is sitting vacant or unused and it would help to bring major development to Chicago no matter which plan is used. It is unclear as to if any of the plans have a leg up over the competition.

Now that more details are available involving each plan, we may start to see some opposition from residents who live nearby any of the suggested areas for the casino. If a backlash is seen from residents, it might cause officials to think twice about which plan they decide to go with.

Members of City Hall must advise Chicago mayor Lori Lightfoot as to which plan they feel should be presented to the aldermen for approval. Once she picks a plan, it moves on to the City Council for consideration. If they approve it, then the plans moves one step further, with the state Gaming Board for consideration.

If the license is provided, then the plan can move forward, allowing residents of Chicago and nearby cities, along with visitors to the state to eventually be able to enjoy casino gaming via the new facility.

Associate Writer: Suzie has extensive experience writing on a number of different topics, but writing on slots remains her first love, and it really shows.