Chicago Selects Bally’s For New Casino Project

A on line casino has been chosen for town of Chicago after a years-long choice course of.

Mayor Lori Lightfoot introduced May 5 that town picked Bally’s Corporation for the only real on line casino license. Bally’s will develop a on line casino on the website of the Tribune Publishing Center.

“Following significant analyses and community input on all aspects of our three finalists for Chicago’s casino license, the selection committee and I have chosen Bally’s to move forward in the development of the City’s first integrated casino resort,” Lightfoot stated in a press release.

Bally’s will make investments $1.7 billion into the casino-hotel. 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.

“We would like to thank Mayor Lightfoot and her office for conducting a tough, but fair, RFP process, and selecting Bally’s Chicago as the final bidder for the City’s casino,” stated Chairman of Bally’s Corporation Board of Directors Soo Kim. “Chicago is a singular and vibrant metropolis, deserving of world-class gaming and leisure vacation spot.”

Bally’s supplied a $40 million upfront cost on the time of the signing of the Host Community Agreement. It may also pay $4 million yearly per yr, in accordance with Lightfoot’s workplace.

The metropolis most well-liked Bally’s mission largely to it being the one bidder that didn’t have a competing on line casino within the Chicagoland area. Rush Street Gaming and Hard Rock have been the opposite two finalists for the on line casino, however each supply on line casino playing close to Chicago.

Bally’s will open a brief on line casino on the Medinah Temple whereas the complete on line casino is being constructed.

“A Chicago casino will provide a real boost to the City’s revenues by $200 million to support police and fire pension funds as well as to the State’s revenues by $200 million to support capital improvement projects statewide,” stated Municipal League Executive Director Brad Cole.

Chicago has been eyeing a on line casino for many years, with vital progress lately. Original laws for the on line casino license handed in Springfield in May of 2019.

In April of 2021, town issued the official requests for proposals. The RFP closed in October and resulted in 5 proposals from 4 bidders. In March of 2022, town narrowed the bids to 3 finalists.