It’s down to 3 proposals for Chicago casino-resort, city says

Chicago officers personal narrowed their checklist of proposals for a casino project to a pair finalists.

Chicago Mayor Lori Lightfoot launched Tuesday that the city is brooding about proposals submitted by Bally’s Corp. on the Chicago Tribune Publishing Center; Difficult Rock Chicago on the ONE Central location; and Rivers 78 in a riverfront leisure district. The city will hear neighborhood ideas early next month and negotiate with the companies earlier than deciding on one amongst the proposals for Chicago City Council evaluation.

Each and every of the proposals is anticipated to cost more than $1.5 billion. Chicago Chief Financial Officer Jennie Bennett mentioned the three finalists provide the excellent revenue doable for the city, stunning construct plans and favorable gaming operators.

“We’re working as speedy as doable with a notion to procure to the terms that we genuinely feel happy proposing to the council,” though there might be not any timetable for deciding on the winner, Bennett advised newshounds Tuesday morning.

The three resort proposals below consideration:

— Bally’s Corp.: $1.74 billion property in the Chicago Tribune Publishing Center with 500 rooms; six restaurant/cafes and a meals hall; three bars and lounges; a 3,000-seat leisure venue; exhibition location; out of doors-rooftop green location alongside with bars, lounges and swimming pools; 3,400 slot machines and 173 table games. The property would start in early 2026.

— HR Chicago, LLC: $1.74 billion property from Difficult Rock International at ONE Central project location with as a lot as 500 rooms; several restaurant/cafes and a meals hall; six bars and lounges; a 3,500-seat Difficult Rock Live venue; a “Rock” spa; a Difficult Rock Music and Leisure experience; 3,000 slots and 166 table games. The property would start in the 2d half of of 2025.

— Rivers 78 Gaming LLC: $1.62 billion property managed by Chase Avenue Gaming, LLC in the 8-acre riverfront leisure district on the northern ruin of the blended-exhaust 78 neighborhood with 300 rooms; eight restaurant/cafes and a meals hall; 5 bars and lounges; a riverfront plaza; an commentary tower with indoor-out of doors viewing location; a Harbor Hall multipurpose riverfront venue for dwell leisure, cultural arts and neighborhood programs with rooftop location; 2,600 slots and 190 table games. The property would start on the ruin of 2025.

Each and every proposal has plans for a non everlasting casino on hand to give an explanation for coronary heart’s contents to two years upfront of the resort opening. Upon council approval, the winning proposal would then favor to procure approval from the Illinois Gaming Board.

Lightfoot mentioned Chicago officers gaze the Bally’s Tribune, Difficult Rock Chicago and Rivers 78 proposals as the good match for the city’s desires.

“Each and every proposal affords economic, employment, and equity-targeted opportunities for Chicago, while concurrently bettering the City’s cultural, leisure and architectural scenes with world-class services and construct,” Lightfoot mentioned in an announcement. “Our teams be taught about forward to heading into discussions with the finalists and getting one step nearer to bringing this decades-prolonged project to fruition.”

The city first unveiled 5 proposals in November from four varied gaming companies. Two of those proposals are now no longer in consideration — a Bally’s proposal on the McCormick Put Truck Marshaling location and a Rivers Chicago at McCormick, LLC proposal at Lakeside Center at McCormick Put.

Scott Goodman, representing Rivers Chicago at McCormick, mentioned the firm turned into disenchanted its expose wasn’t chosen but turned into grateful for the honour. He mentioned the firm’s proposal would’ve benefitted taxpayers by investing in a publicly owned location delight in McCormick.

“We would like the eventual winner and the city at astronomical gigantic success, as Chicago’s first casino shall be a lumber back and forth location for all to experience and a revenue generator for local governments,” mentioned Goodman, founding main of Farpoint Pattern, the developer for the expose.

Bennett mentioned the McCormick proposals would seemingly raise more time than the city turned into willing to abet for the gaming tax revenue. Lightfoot mentioned final spring that she wanted a Las Vegas gaming operator to put up a expose sometime of its demand-for-proposal job, though none did. Analysts personal advised Las Vegas companies, extinct to Nevada’s 6.75 tax price, balked on the 40 percent tax price and doable competitors from casinos in Illinois and Indiana.

Contact Mike Shoro at [email protected] Word @mike_shoro on Twitter. Review-Journal workers author Rick Velotta contributed to this document.