Count out MGM Resorts as a bidder for a casino in Chicago, which issued its RFP last month.
During a conference call with investors MGM Resorts President and CEO Bill Hornbuckle said, “we’re just not keen or focused on it at this time.” He also was concerned about the convoluted bidding process and thought the tax rate was too high, even after it was brought down from an original rate of more than 70 percent.
MGM CFO Jonathan Halkyard expanded on Hornbuckle’s comments
“Chicago is just complicated,” he said. “The history there in Chicago, the tax and the notion of integrated resort at scale don’t necessarily marry up. And while I think they’ve had some improvement, we’re not interested at this point in time there.”
Chicago Mayor Lori Lightfoot had wanted to attract “some of the top gaming ventures in the world,” but Asha Binbek, deputy press secretary to Lightfoot, in a release said she respected MGM’s decision.
“Chicago would have been delighted to receive an MGM casino proposal,” Binbek said. “We understand each casino operator will need to determine which opportunities are best suited for their organization and that MGM has prioritized its focus for several years on opportunities in Japan and its mobile wagering businesses.”
Gaming companies such as Wynn Resorts, Las Vegas Sands, Rush Street Gaming and several others have expressed interest in Chicago, however.
