At the recent opening of the National Council of Legislators from Gaming States, Chicago Mayor Lori Lightfoot promoted her city and its eagerness to host a casino.
“For interested owners and operators, our city truly provides a once-in-a-generation opportunity to build a casino and entertainment district in a major American city,” Lightfoot said. “I’m looking forward to reviewing the proposals that come in.”
In 2019, Governor J.B. Pritzker signed legislation allowing sports betting statewide and casinos in six locations, including downtown Chicago. The city issued its request for proposals in late and will close applications next month. Finalists are expected to be announced next year. The winning bidder can select its casino location, subject to city approval.
Lightfoot said Rush Street Gaming, which has a substantial stake in Rivers Casinos in Des Plaines, is among the applicants. But she added, “This RFP is wide open. There are no hometown favorites. We want to make sure we get the best-in-class opportunities for anyone across the country who understands the value of being in a city like Chicago.” The downtown casino is expected by open by 2025.
Rivers Casino generates more gaming revenue than any of the other nine casinos in Illinois. In June, it brought it more than half of the $21.4 million in gaming taxes produced by the state’s casinos, according to Illinois Gaming Board figures. For the year, it has produced nearly $200 million in adjusted gross revenue and more than $50 million in state and local taxes.
Lightfoot said she’d like the casino to be part of an integrated casino resort, meaning, “a world-class entertainment district, anchored by a casino but also providing other amenities so that our tourists and residents can take advantage of a first-class gaming experience.”
Lightfoot noted her office is a friend of the gambling industry. “So an operator who comes to invest in Chicago is going to have a partner in our government that is going to provide support to uplift the surrounding community and environment. So not only will you have a great business opportunity, you’re going to find a ready, willing and able workforce that is going to be supported by this administration.”
Lightfoot said Chicago has been studying other areas to identify best practices that will make the city a top choice of potential bidders. She said, “We’re watching what happens in cities like Las Vegas and other gaming centers around the world, and seeing how these other centers have adapted to a post-pandemic economy and realities. And we are well poised to take advantage of the best practices that we have seen across the country and, truly, across the world.”
Lightfoot also noted the new casino project will create thousands of jobs and produce hundreds of billions in new gaming revenue for both the city and state, money that Chicagoans would have spent at northwest Indiana casinos. She added the project must integrate well with the existing community, meet high architectural standards and earn LEED certification.
“While much work remains, this project is an important step in the right direction, as it will not only generate and expand our communities’ access to social-economic opportunities but ensure the prosperity of our city for years to come. It will also serve as an example to executives of legislatures around the country that highlights their ability and responsibility to invest in our cities and the well-being of our residents,” Lightfoot stated.
