According to a press release from Mayor Lori Lightfoot's office Thursday, Bally's Corporation is officially the winner of the city of Chicago's only casino license.
After months of proposals, public comment, and strong opposition from some neighborhood groups, it beat out two other Bids: a proposed Hard Rock casino just west of Soldier Field, and one from Rivers, which would have built a casino in the South Loop.
The $1.74 billion casino and hotel will be permanently located on a portion of the of the current industrial Tribune Publishing Center at Tribune Publishing Plant in the River West neighborhood, but the land has to be developed first.
A temporary location for the casino is first planned for Medinah Temple, at 600 N Wabash Ave.
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Bally's proposal includes a 3,000 seat theater, an extension of the Riverwalk and pedestrian bridge.
An outdoor park and music venue, a fitness center, sun deck and pool spa and a 500 ft. tower is also planned for the project.
According to the press release, the site would include six restaurants, a food hall, and room for 3,400 slots and 170 game tables.
The city estimates a casino will bring in $200 million a year in tax revenue -- money that is earmarked for police and fire pensions, according to officials.
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Here's what we know about the new Bally's Casino coming to River West, and what happens next.
According to reports, Bally's is reportedly close to a labor deal with the Chicago Federation of Labor that would require the entire complex to use union workers.
What Happens Next?
According to the mayor's office, "a comprehensive host community agreement memorializing the agreed upon terms will be negotiated."
That agreement will then be evaluated by an Alderman special committee
All of the City Council will be involved in the process for the final recommendation, and the formal development process will begin following approval from the City Council and the Illinois Gaming Board.
The public can weigh in on May 12, on the selected proposal at a community engagement event at UIC Forum, at 725 W Roosevelt Rd. from 7 p.m. - 9 p.m. Registration for the event begins May 5 at 11 a.m.
Which Other Casinos Submitted Bids?
Hard Rock (ONE Central Site), West of Soldier Field – Hard Rock proposed a $1.74 billion casino resort just to the north of McCormick Place on Chicago’s lakefront.
The proposal included a 3,500-seat live music venue, a 500-room hotel tower, restaurants, six different bars and lounges, and more than 3,000 slot machines and 166 gaming tables.
Rivers (78), South Loop, including Chinatown and Pilsen – Rivers 78 proposed a $1.62 billion casino project on the site known as “The 78,” a large development on Chicago’s South Side. The proposal included a riverfront area, an observation tower, a riverfront venue for live entertainment, a 300-room hotel tower, eight different restaurants, more than 2,600 slot machines and 190 table games.
