English
Arabic
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish
The City of Chicago is shifting ahead with Bally’s because the developer of an upcoming on line casino, the primary for the Windy City.
On June 16, Mayor Lori Lightfoot’s workplace introduced that it has collected an upfront charge for the on line casino. Bally’s will develop a on line casino on the web site of the Tribune Publishing Center.
“The City of Chicago received $40 million from Bally’s as part of an upfront payment that will go entirely toward the City’s annual required pension contribution,” the Office of the Mayor stated. “This is the first down payment from the casino on the future of Chicago’s pensions and a clear indication of the City’s commitment to its hardworking public safety professionals.”
“In the years to come, the Chicago Casino is projected to bring hundreds of millions of dollars in revenues to the City, with many of those revenues earmarked for pensions,” Lightfoot added. “This builds upon last week’s signing of the host community agreement, which codified the casino license between the City and Bally’s. Mayor Lightfoot and her team look forward to building upon this success by bringing thousands of good-paying, union jobs and a world-class entertainment district to the River West neighborhood.”
Bally’s can even pay $4 million yearly per 12 months, in accordance with Lightfoot’s workplace.
Bally’s will make investments roughly $1.7 billion into the casino-hotel undertaking. The on line casino is anticipating 3,400 slots and 170 desk video games. Bally’s projected the event will create greater than 3,000 development jobs and three,000 everlasting on line casino jobs.
The Illinois on line casino playing market was price $1.7 billion in 2021, in accordance with the American Gaming Association. There are 11 casinos within the state.
