Chicago Posts Solicitation for Lengthy-Awaited On line casino Undertaking
Posted on: April 22, 2021, 11:50h.
Final up to date on: April 23, 2021, 01:39h.
The town of Chicago on Thursday launched the extremely anticipated request for proposals (RFP) for the on line casino license the Windy Metropolis acquired as a part of the Illinois legislature’s expanded gaming legislation handed two years in the past.
In a press release, town stated it desires to see a casino-resort open by 2025.
We stay up for collaborating with world-class operators to develop a premier leisure vacation spot that may catalyze development in our dynamic financial system, create sustainable, good-paying jobs for our workforce and convey new monetary alternatives to our companies,” Mayor Lori Lightfoot stated.
In addition to getting to construct a on line casino in America’s third-largest metropolis, the winner would additionally get an opportunity to position slot machines in each Halfway and O’Hare Worldwide airports.
Below the present timeline, events should submit their proposals by 2 pm CT on Aug. 23. In late September, the candidates will give public shows about their proposals.
Metropolis officers count on to pick the winner early subsequent 12 months.
What Chicago Desires
Among the many metropolis’s necessities for a resort on line casino embrace a lodge that includes not more than 500 rooms. It additionally should characteristic assembly areas as properly an leisure venue, eating institutions, and bars.
Whereas candidates will suggest areas, town desires to see what it calls an “architecturally important” design that may assist spur further enterprise attraction and development.
Chicago leaders had hoped to difficulty the RFP earlier. Nonetheless, officers raised considerations concerning the excessive tax charge related to the on line casino undertaking. That prompted lawmakers to revise the tax structure final 12 months.
In addition to jobs and enterprise alternatives, metropolis officers plan to make use of the tax income generated by the on line casino to pay into the pension fund for Chicago firefighters and cops.
Whereas there are quite a few casinos within the Chicagoland space, the profitable applicant would be the just one in a metropolis that pulls greater than 60 million guests yearly.
Who Might Bid?
When town final 12 months launched a request for data, a preliminary and elective solicitation designed to find out how a lot curiosity there may be in a undertaking, it acquired 11 responses. Among the many on line casino operators that submitted have been Onerous Rock Worldwide, MGM Resorts Worldwide, Rush Avenue Gaming/Midwest Gaming and Leisure, and Wynn Resorts.
MGM Progress Properties, a gaming-focused actual property funding belief, additionally submitted a response, as did 4 actual property growth corporations.
Given the scale of the chance and the exclusivity, a number of different gaming corporations may take into account submitting a bid as properly. Final month, Lightfoot stated she hoped several with “Las Vegas addresses” would get entangled.
Of these respondents, six stated they’d be taken with working a short lived on line casino whereas the everlasting resort is constructed. The RFP at the moment states that the profitable operator will have the ability to function a short lived venue for twenty-four months whereas the everlasting resort is constructed. There’s additionally the likelihood for a one 12-month extension on the temp construction as properly.
Most of them stated they like a downtown Chicago location for the everlasting facility. Nonetheless, one recommended a website close to Lake Calumet close to the Indiana border.
Chicago On line casino Choice Course of Simply Starting
As soon as town picks a profitable proposal, there’ll nonetheless be a number of heavy lifting to do.
On town facet, the Chicago Metropolis Council might want to draft and go an ordinance supporting the applicant, and the applicant additionally should maintain group conferences to garner suggestions on their proposal and make modifications as requested.
The town’s Plan Fee and the Metropolis Council Committee on Zoning, Landmarks, and Constructing Requirements may even change into concerned.
As well as, the winner nonetheless should submit an software to the Illinois Gaming Board to make sure it meets the state’s requirements for licensing.