The Illinois Gaming Board recently selected Union Gaming Analytics of Las Vegas to has selected a consulting firm to conduct a feasibility study for a Chicago casino. The study is required under the gambling law signed into law by Governor J.B. Pritzker last month. Expanded gambling is projected to generate revenue for a $45 billion capital improvement plan.
The city of Chicago will pay for the study, which will examine the feasibility of locating at one of five selected sites on the city’s South and West sides, including a former U.S. Steel site and the former Michael Reese Hospital. Union Gaming will present its findings to Pritzker and Chicago Mayor Lori Lightfoot in August.
Union Gaming will present its study regarding the feasibility and ability to finance a casino in Chicago to Pritzker and Chicago Mayor Lori Lightfoot in August. Chicago will pay for the study.
Besides the Chicago casino, the gambling legislation calls for casinos in the south suburbs, including Rockford, where Rick Nielsen, lead guitarist for the superstar rock band Cheap Trick and Hard Rock International Chairman and Chief Executive Officer Jim Allen recently announced a proposed Hard Rock Casino Rockford at the site of the former Clock Tower Resort.
Rockford issued a request for casino proposals on July 3 and responses are due August 16. Several strong applicants are expected in addition to the Hard Rock partnership with an investor consortium.
Rockford Mayor Tom McNamara said, “We are receiving a lot of interest in the Rockford casino project. It’s really exciting. We anticipate getting multiple proposals from national operators, and we are anxious to begin reviewing them.” A Rockford casino is expected to create 600 construction and 900 permanent jobs and generate $4-$8 million in annual tax revenue for the city.
An evaluation team will make its recommendations regarding the best proposals to the city council on September 16. A public hearing will follow on September 23. The council will recommend one or more proposals by October 25 to the Illinois Gaming Board which will make the final decision. McNamara said he hopes that the board also will approve a temporary casino that could operate while the permanent casino is under construction.
Rockford resident Nielsen is an investor in the former Clock Tower property.
