The city of Waukegan, Illinois is considering five development plans for a casino at the shuttered Fountain Square shopping center. The facility is one of the five suburban Chicago casinos authorized by the new expanded gambling bill; the measure also includes a downtown Chicago casino. Waukegan officials will submit their recommendations to the Illinois Gaming Board in late October.
Here’s a glimpse at the contenders’ proposals:
Churchill Downs—Rush Street Gaming. Louisville-based Churchill Downs Inc. and Chicago casino honcho Neil Bluhm’s Rush Street Gaming—partners in Rivers Casino in Des Plaines—want to expand the brand with Rivers Casino Waukegan. That facility would be located just 40 minutes from the Des Plaines venue, sparking concerns it could cannibalize Des Plaines’ $400 million in annual gross revenues. Churchill also owns Arlington International Racecourse, but recently announced it will not install slot machines or casino games there, although the new law would allow that. According to the proposal, the Waukegan venue would offer 1,625 gaming positions, a sportsbook, poker room and an “upscale gastrobar.” It would create 1,200 new jobs and generate $150 million annually for the local economy.
Waukegan Gaming. Waukegan Gaming, led by Chicago real estate developers Alan Ludwig and Richard Stein, currently is in litigation with the city of Waukegan. The company claims a 2004 redevelopment agreement granted it the exclusive right to develop and operate a casino in Waukegan. The company has partnered with Rush Street Gaming and Churchill Downs to implement its plan if the courts uphold the agreement. Waukegan Gaming and the city have agreed to an expedited discovery schedule; a hearing is scheduled for early October. The casino would be operated by former media magnate Peter Liquori’s Chesapeake Gaming Group.
Full House Resorts. Las Vegas-based Full House has proposed the $275 million-$325 million American Place, including a casino with 1,560 gaming positions and a sportsbook. The property also would feature the Mansion, an all-suite boutique hotel consisting of 20 “ultra-luxurious” villas with 24-hour butler service, a helicopter pad, private entrance and entertainment room. The venue would generate $13 million in annual economic development, company officials said.
Lakeside Casino LLC. Headed by former state Senator Michael Bond and Las Vegas-based Warner Gaming, the North Point Casino would offer up to 2,000 gaming positions, a 5,300-square-foot sportsbook, two-acre outdoor amphitheater, five restaurants and a smoking patio. Phase II would include a hotel, ballroom, conference area and retail/entertainment district. Bond has donated thousands of dollars in Waukegan elections through Tap Room Gaming, his video gambling company.
Potawatomi Hotel & Casino. The tribe owns the Potawatomi Hotel & Casino in Milwaukee but seeks to expand into Illinois. The proposed $343 million Waukegan Potawatomi Casino would offer a 130,000-square-foot facility with 1,850 gaming positions, three restaurants and a food court. Instead of building a hotel, the company would “create strategic alliances” with existing hotels. Potawatomi officials said the casino could open by December 2021. The project would create nearly 2,600 jobs and have an annual economic impact of about $394 million.
Waukegan Development Associates LLC. The company, led by real estate broker Andrew Hochberg, who also has a stake in Tap Room Gaming. It has offered $7 million to purchase the Fountain Square land where it would build Casino Fontana, a 38-acre complex. It would include a gaming floor with 1,380 gaming positions, two bars and several bars and restaurants. A second phase would include a luxury 5-story, 120-room hotel, dine-in cinema and a spa with a saltwater pool, a 21,000-square-foot multi-use facility and an outdoor festival space landscaped with a bridge and a replica of a famous Italian fountain. The venue would employ 1,000 people and generate $145 million in annual economic impact by its fifth year, officials said.
