Chicago casino proposals

Freedom Center, where the proposed Bally's casino would be located.

Bally's Corporation proposed to put a $1.6 billion casino and resort, where the current Chicago Tribune Publishing Center, more well known as "Freedom Center", is. This is located in the River North neighborhood of Chicago. Bally's has a option to buy the 30-acre site with the sellers. Bally's originally had a plan to retrofit a former warehouse at the current Tribune plant in order to serve as a temporary casino while the casino is being built. The first phase of the process would cost $1 billion, which would include 2700 slot machines, 95 table games, a suite-only hotel, with 100 suites. There would also be an outdoor music venue with space for 1000 people. After having a 20% return on investment from phase 1, Bally's would have a $600 million expansion. There would be a total of 4000 gaming seats with the expansion, a new 400 room hotel, a 3000 seat indoor venue, and a 20,000 feet exhibition space.[6]

The proposal by Bally's Corporation to build a casino at the McCormick Place truck marshaling yard was exactly the same as the Tribune proposal, except at a different location, 3050 Moe Dr.[6]

Hard Rock International proposed a casino within the One Central project, which was still in the planning phase at the time. It would be located directly north of McCormick Place, and be east of Soldier Field. It would sit on top of a current 35-acre Metra train yard, with the yard still remaining underneath. It would cost $1.7 billion to build, and would include up to 500 hotel rooms, a 3500 seat theater, 3400 slot machines, and 166 table games.[6][7]

The 78 in 2021, where the proposed Rivers Casino is to be located.

Rush Street Gaming, owner of Rivers Casino, proposed to put a casino at "The 78". It would be over 450,000 sq. ft. inside, and be home to 2600 slots and 190 table games. It would also have a 300 room luxury hotel, along with a 1000 ft observation tower. It was projected to attract over 7 million annual visitors. [8][7] It was later announced that Rush Street planned to have a riverboat as a temporary casino while the main structure was being built. [2]

Lakeside Center, where the proposed Rivers Casino was to be located.

Rush Street Gaming also proposed to convert the 50-year-old Lakeside Center at McCormick Place into a casino. It be home to a 480,000 sq. ft. casino, that would also be home to 2,600 slots and 190 table games. It would also house a 4200 seat theater. It would cost approximately $1 billion to redevelop the building.[9][10]

On 22 March 2022, Lightfoot announced that there were 3 finalists out of the 5 proposed. The Bally's Freedom Center proposal, the Hard Rock One Central proposal, and the Rivers 78 proposal were the three finalists. Each of the three finalists had to participate in a community engagement meeting where the public asked questions and commented on the proposals.[12] After the meetings, the city would negotiate with the three finalists, and pick one to present to the City Council, where it would face a vote. If it passed there, it would later move to the Illinois Gaming Board. The two proposals that were axed had a litany of reasons behind their rejection. Along with facing a slew of political pressure, the two canned proposals would have each not been financially viable. The city estimated that the Truck Yard proposal would have brought in $156.2 million yearly to the city, while the Lakeside center proposal would have brought in $160.3 million to the city. Jennie Huang Bennett, the city’s chief financial officer said that the taxes "weren’t sufficient to cover" the cost to expand McCormick Place to compensate for the lost real estate.[13]

On May 5 2022, Mayor Lightfoot announced that she had chosen the Chicago Tribune Freedom Center Bally's Proposal. Her rationale for the decision related to having a labor agreement with the Chicago Federal of Labor, as well as not having a competing casino in the Chicago area. Bally's also announced their plans to use the Medinah Temple, as the temporary casino location, instead of the warehouse previously proposed. The temporary casino is to open by the second quarter of 2023, with the permanent location opening by the first quarter of 2026. The proposal still has to undergo steps after the decision, which includes getting a majority vote passed the city council, as well as gaming board approval. The proposal still faces challenges such as facing city council approval and Illinois Gaming Board approval. Public reaction was mixed to the announcement, with many nearby residents voicing opposition. “The game is not over yet,” said Brian Israel, president of the River North Residents Association, in reference to the selection process.[6][14]