At a hearing of the Chicago Metropolitan Pier and Exposition Authority, McCormick Place CEO Larita Clark said any plans to convert parts of the convention center to a casino could affect operations and possibly lead some shows to cancel.
Clark said she wasn’t trying to eliminate any bids but she wanted to “get the facts out. She noted certain state laws may need to be changed before McCormick Place could offer gaming.
“We’re not saying ‘no way’ on anything. We’re just saying there are other considerations and there’s information we don’t have right now,” Clark said. Her agency is not involved in selecting a casino operator.
The Windy City is evaluating five casino bids, including three that would require utilizing parts of the convention complex: Lakeside Center, McCormick Place North or its trucking yards. Clark said Lakeside Center, the oldest McCormick Place building, still draws significant business.
“It does not sit empty. The reality is if we lost the Lakeside Center, we’d need to replace 600,000 square feet and all the critical infrastructure,” at a cost of $1 billion. Clark added Lakeside Center has 253 events scheduled through 2035, worth $13.8 billion in economic impact; it also houses mechanical systems serving the whole campus.
Clark stated McCormick Place North is booked nearly to its maximum pre-pandemic level. And the truck marshaling yards help exhibitors and contractors set up and take down items quickly. “In 2019, 35,000 trucks used the marshaling yards and their proximity to our campus is a competitive advantage,” Clark said.
Mayor Lori Lightfoot did not respond directly to Clark’s comments. Her spokesperson said, “The city continues to review all proposals by bidders on the Chicago Casino.”
MPEA board Chairperson Jeffrey Bethke said the board will evaluate the potential impact on the convention customers. He noted the convention center’s facilities that would be included in casino plans have “real value” when it comes to attracting meetings and trade shows.
Rivers Casino spokesman Eric Herman said officials already “anticipated the comments that have been raised.” The developers previously said the aging Lakeside Center as “sparsely used” but more recently said they’re “confident that our plan addresses those issues in a way that will make a positive impact on McCormick Place, and will provide a direct benefit to MPEA, the city and state.”
Rivers Spokesman Eric Herman said, “Only Rivers Chicago McCormick advances the public interest by offering additional taxpayer benefit on top of the gaming revenue any casino will bring to the city and state. No other applicant does that. We look forward to partnering with the MPEA to custom-build a solution that meets all of its needs.”
The Bally’s group said their plan would save the MPEA nearly $1 billion by assuming deferred maintenance costs, paying $15 million in annual rent and “eliminating the operating loss on Lakeside Center.” A second Bally’s proposal would situate the casino in the truck marshaling yards.
A bid from Hard Rock would utilize Lakeside Center or McCormick Place North as temporary sites until a permanent casino can be completed at the nearby development site One Central.
Two casino bids would not involve McCormick Place: another Bally’s bid for the Chicago Tribune’s Freedom Center printing site, 777 W. Chicago Avenue; and a bid from Chicago magnate Neil Bluhm’s Rivers Casino placing the casino on 62 vacant acres southwest of Roosevelt Road and Clark Street.
