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Posted on: March 10, 2021, 11:28h.
Final up to date on: March 10, 2021, 12:45h.
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The Metropolis of Chicago plans to open what’s anticipated to be a bidding battle for its lone built-in resort (IR) on line casino license early subsequent month.
Chicago Mayor Lori Lightfoot, seen right here in 2019, hopes to convey a bit of little bit of Las Vegas to her metropolis. Subsequent month, Chicago will start fielding on line casino proposals. (Picture: Getty)
Chicago officers revealed this week that they anticipate the request for proposal (RFP) interval to start within the first half of April. A single IR gaming license was licensed below 2019 laws signed by Illinois Gov. J.B. Pritzker (D). Together with the downtown on line casino resort, 5 smaller casinos had been authorized within the Chicago suburbs of Waukegan, Rockford, South Suburbs, Williamson County, and Danville.
The RFP will embody required specifics that every on line casino developer should embody.
“We wish to ensure that we put out an RFP that’s going to be engaging to a number of the high gaming ventures on this planet, so for us, the sky’s the restrict,” Lightfoot stated this week. Lightfoot hopes the highest on line casino operators in Nevada make a transfer to win the Windy Metropolis IR license in Illinois.
I don’t wish to title names, however clearly there are some that we might be very excited in the event that they utilized,” the mayor stated. “My hope is that lots of them could have Las Vegas addresses.”
She added, nonetheless, that the RFP overview might be “fully open and clear,” and that she and town council is not going to be “placing our thumb on the dimensions for anybody.”
Lightfoot’s feedback probably gained’t be well-received by Chicago-based Rush Avenue Gaming. The gaming agency owns Rivers-branded casinos in Illinois, Pennsylvania, and New York. It’s additionally in improvement on a Rivers on line casino in Virginia.
Chicago On line casino Alternative
With roughly 2.7 million residents, Chicago ranks third behind solely New York Metropolis and Los Angeles when it comes to the biggest US cities by inhabitants. Nevertheless, a 2019 feasibility examine concerning the downtown Chicago on line casino decided the resort would probably wrestle.
The overview concluded that the on line casino can be taxed at an efficient charge of 72 p.c, and the resort would make “pennies on the greenback” in a best-case state of affairs. In response, Lightfoot efficiently petitioned the state to decrease the gaming tax construction for the IR, and that’s revitalized curiosity amongst on line casino giants.
Rush Avenue, Onerous Rock, MGM Resorts, and Wynn Resorts are just a few of the businesses that responded to Chicago’s request for info (RFI) final yr. They expressed specifics as to what would make the IR interesting.
The RFI consensus was that the IR needs to be centrally situated downtown on 10-25 acres, and the gaming ground ought to measure between 100,000-200,000 sq. toes. The event ought to characteristic a resort, conference and leisure area, and enough parking.
Lightfoot expressed her eagerness to see what Las Vegas envisions for Chicago.
“I feel we’ve acquired an incredible quantity to supply and significantly for a number of the extra skilled gaming pursuits that do have Las Vegas as their dwelling deal with,” the mayor acknowledged. “Las Vegas is the epicenter of all issues gaming. For my part, Las Vegas is the gold customary of on line casino gaming.”
Huge Metropolis Casinos
The US gaming business continues to get better from COVID-19. However within the coming years, there are potential goldmines on the desk.
Together with Chicago, the business is lobbying New York lawmakers to raise a moratorium on permitting a on line casino resort to be in-built Manhattan. For now, Chicago is the US gaming business’s greatest market alternative.
“The Chicago license is among the many finest on line casino resort improvement alternatives proper now,” stated Union Gaming Principal Grant Govertsen. Union Gaming was the analytical agency that carried out the Chicago on line casino feasibility overview.
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