Officials Reveal Details of Five Chicago Casino Proposals Received

Chicago Casino Gambling Background
The office of Chicago Mayor Lori Lightfoot released last Friday details of the five proposals that the city has received for the planned gambling casino in the heart of the city.

In a statement, Mayor Lightfoot said:

“The caliber of the proposals are in line with our vision to develop a world-class experience in Chicago that will drive significant economic growth and employment opportunities for our communities. Each proposal provides a unique vision for what Chicago’s casino-resort would look like, and our expert review committees are ready to dive into discussions to usher in a new and exciting era for our city.”

City officials have estimated that any of the five proposals would bring in roughly $200M in taxes per year once fully operational. In a morning briefing, officials said they are preparing the schedule of briefings and public hearings that will lead to a final vote from the City Council. According to officials, that vote could come as early as March 2022. The winning bidder picked by the City will then be sent to the Illinois Gaming Board for approval.

Bally’s Has Two Bids

Bally’s has two bids one located at the Chicago Tribune Publishing Center and another at the McCormick Plack Truck Marshalling. Tre Tribune location is valued at $1.8 billion and is expected to produce a 3,600 gaming positions casino, a 500-room high-rise hotel, and a 3,000 seat, 70,000 square foot entertainment venue. Along with this bid, Bally’s offered an upfront ”incentive payment” of $25M

The second bid is very similar to the first one, although it is slightly smaller in terms of investment amount at $1.6 billion. The McCormick venue is valued at $1.6 billion and Bally’s would make an upfront payment of $50M if awarded.

Both proposals reference allotting some of 4,000 gaming positions allowed to Midway and O’Hare Airports, in consultation with the local government of Chicago.

Two Bids Involving Neil Bluhm

Chicago casino mogul Neil Bluhm is also involved in two bids. The first is the Rivers Chicago at McCormick which is being proposed at the Lakeside Center of McCormick Place. The proposal calls for the rehabilitation of Lakeside Center which would make things faster by doing away with constructing a new structure. This location would have 2,600 slot machines and 190 gaming tables while also renovating the 4,200 seat Arie Crown Theater.

The other one is called Rivers 78 Gaming which proposes a location at the 8-acre riverfront entertainment district at the north end of the mixed-use 78 neighborhood. The project is worth $2 billion and includes a 2,800 position casino with a 300-room hotel, and an anchorage on the South Branch of the Chicago River. Bluhm plans to operate a riverboat casino next to the 78 while the permanent structure is being built.

The final bid is from Hard Rock Chicago which intends to use the ONE Central project site. The $1.7 billion proposal would include a 3,000 position casino, a 500-room high-rise hotel, and an entertainment area that will live up to Hard Rock’s signature music vibe. Had Rock is is pitching for a temporary site at the Lakeside Building Center while the ONE location is still being constructed.

Chicago Receives Five Bids for First Casino Resort Project in the City

Chicago

The city of Chicago has received a total of five bids for the casino-resort project.

According to Mayor Lori Lightfoot, her office has received a total of five proposals from four groups to operate the mega-casino that the city has been trying to land for several decades and she is thrilled with this development.

Said Mayor Lightfoot:

“The submission of bid responses represents a major step toward the thoughtful development of a casino resort that uplifts our businesses, employs and empowers our residents, and encourages tourism. We look forward to the next phase of discussions to bring this world-class entertainment experience to our city.”

Bally Submitted Two Proposals

Bally’s Corporation, HR Chicago, Rivers Chicago at McCormick, and Rivers 78 Gaming beat Friday’s deadline to submit the bids. Bally’s submitted two proposals for two different sites: one at the Near North site of the Chicago Tribune publishing center near Chicago Avenue and Halsted, and another at the McCormick Place truck marshaling yards south of the sprawling convention center.

Both proposals by Bally’s call for a $1.6 billion investment and will include a luxury hotel, indoor and outdoor entertainment space, fine dining, and a green space. According to Bally’s, minority investors have a total stake of 25% of the project, with investors including philanthropists, business owners, sports stars, celebrities, and even ordinary Chicagoans.

Neil Bluhm Going All-In

Chicago magnate Neil Bluhm’s Rush Street Gaming signaled that it was going all-in on a Chicago casino proposal by withdrawing its application for a casino at Waukegan. Friday’s announcement revealed that Bluhm’s company is spearheading two development groups with names that tip their hand on where they’d like to break ground: Rivers 78 Gaming LLC and Rivers Chicago at McCormick LLC.

Bluhm has long been considered as a shoo-in to get the Chicago casino project because of his successful track record running the state’s most successful gambling property in the Rivers Casino in Des Plaines and his close ties with Mayor Lightfoot. Lightfoot received over $200,000 in campaign contributions from Bluhm’s daughters Leslie and Meredith.

Hard Rock Endorsed by Rick Nielsen

Hard Rock’s bid as HR Chicago LLC was endorsed by legendary Cheap Trick guitarist Rick Nielsen. It comes nine months after the company received approval from the Illinois Gaming Board to break ground on a casino project in Rockford and nearly six months after opening a casino in Gary, Indiana which is not even a one-hour drive from the office of the Chicago City Mayor

Hard Rock became controversial after it won the Rockford approval despite the fact that state gambling regulators considered disciplinary action against another corporation owned by one of the lead investors of the project.

Officials Continue to Narrow Down a Location for the Chicago Casino

Chicago Casino Gambling Background

Lawmakers in Illinois have been working to expand the state’s gambling industry for years. Much of the focus has been on getting a gambling venue in the city of Chicago. It’s been a long, arduous process, yet new reports claim that officials are beginning to narrow down a location for the Chicago casino.

This is exciting news for those in the Chicago area. Not everyone is convinced that a casino will actually open its doors here, though. Now is a great time to talk about when and where this new property could open its doors.

Let’s get into it!

A Location the Chicago Casino Will Be Decided Soon

Illinois is known for having one of the largest casino industries in the Midwest. In 2019, lawmakers here approved a new Capital Plan to significantly expand their state’s gaming options. Under this new plan, several new casinos gained permission to open here. That includes a brand new Class III casino in Chicago.

This would be the first casino to open its doors in the Windy City. Officials are now working to narrow down two locations for this venue. It seems that suburbs in the city’s Southern suburbs are the top options right now.

One location near the border of Homewood and East Hazel Crest is being considered. Another by Matteson is also in the running. City officials, including mayor Lori Lightfoot, are now working with city groups to ensure these locations will bring about the most revenue and tourism possible. Wind Creek Hospitality CEO Jay Dorris expressed his excitement about the progress being made to the media this week.

“This development promises to be the best in and for the entire Southland region – with job creation, economic and community investment, sustained operational excellence, and a strong commitment to diversity and inclusion in all phases of construction and operation,” Dorris said. 

If all goes according to plan, the location for the Chicago casino will be announced before the end of 2021. It will then take some time for construction on this property to complete. Stay tuned for updates!

Illinois’ Sports Betting Industry Continues to Impress

Illinois isn’t just known for its popular casinos. Back in 2020, the first regulated sportsbooks went live here. In this relatively short period of time, Illinois has developed one of the most lucrative sports betting industries in the United States.

The sports betting operators here continue to impress. Revenue figures throughout 2021 have been wildly impressive and are showing no signs of slowing down. More than $400 million was wagered on sports here over the month of August.

Many are now expecting September to be the most successful month in history for this industry. This month marked the start of the 2021/2022 NFL season. NFL betting revenue has been surging around the US and Illinois will likely report huge tax revenue earnings thanks to the start of the season.

Only New Jersey and Nevada have more successful sports betting industries than Illinois. Some feel this state has the potential to take the top spot in the future. It will be interesting to see how popular sports gambling becomes over 2022 in other areas of the country.

Most US casino hubs are faring well right now. Let’s take a look at some of the other states to recently report large increases in casino revenue.

More States Report Casino Revenue Increases Over September

September tends to be a successful month for the US casino industry. This past September proved that theory to be correct once again. Most states around the country reported significant increases in their casino revenue figures this month.

That was certainly the case in Louisiana. The casinos here reported a nearly 16% jump when compared to the month of August. The Belle of Baton Rouge proved to be the most successful gambling venue in the state and experienced an impressive 38% month-on-month revenue increase.

Pennsylvania is home to one of the largest casino industries in the United States. Over September, total gaming revenue in the state came out to $415.6 million. Rivers Casino saw the largest revenue increase at 43.6% when compared to September of 2020.

Oklahoma and New Jersey also saw impressive jumps in their monthly revenue figures. It’s great news for all of the casino companies in these states. We’ll continue offering updates on the growing US casino industry as the months go on.

Are you excited to finally hear the location for the Chicago casino? Where do you expect this property to open? Let us know in the comments section below.

Bo Knows? Bo Jackson Joins Investment Group for Calumet Casino

Chicago

Former two-sport legend Bo Jackson has joined an investment group that is eyeing to acquire the license to open a casino in the south suburbs of Chicago.

In an interview with the Chicago Sun-Times last Thursday, Jackson revealed that he has joined th Southland Live Casino as an equity partner. The company is vying to get the license to operate the proposed casino in Calumet City.

According to Jackson, he was attracted to the business because of they committed to partnering with the South Suburban College on a hotel and management program.. Said Jackson:

“I want to help employ people. I want to get the kids out of the corner, go to college and get a good job. What we want to do is bring Chicago’s South Side and suburbs back to life, make it a place that people want to go to rather than avoid it. Some people may see this as a gaming casino. I see it as an opportunity for many people, many disadvantaged children.”

Jackson did not mention however, how much he invested or what his percentage of ownership is in the gambling company.

Fighting for a Single Casino License in Southern Suburbs

Southland Live Casino faces offers from Lynwood, Matteson, and a location that straddles Homewood and East Hazel Cest. The four are vying for a single casino license for the southern suburbs are under the gambling expansion of Gov. J.B. Pritzker’s enacted 2019 $45B “Rebuild Illinois Capital Plan”.

The four aspirants will be whittled down to three after all the group finish making their public presentation during a special meeting next week. The Illinois Gaming Board has announced that it expects to announce the winning bid in early 2020.

Bo knows

Jackson was one of the early faces of Nike when he was a two-sport superstar and was known for his slogan “Bo Knows”. A former Heisman Trophy winner, Los Angeles Raiders running back, and Chicago White Sox slugger, Bo Jackson was on of the most popular athletes during the 90s and made a huge fortune not just from playing pro sports but by also capitalizing on his two-sport image.

After ending his high-profile professional sports career in 1994, he made the southwestern Chicago suburbs his home. Since then, he’s invested his spoils in sports training complexes in multiple states, packaging companies, food and marketing, and even CBD. However, this stands as Jackson’s first venture into the gamlbing world.

Midwest Gaming Withdraws Bid for Waukegan Casino License

Row of Slot Machines in Casino

The Waukegan Casino race is down to two applicants after Midwest Gaming withdrew its application.

This was revealed by Illinois Gaming Board Administrator Marcus Frutcher on Thursday shortly before a random draw to determine the order of public presentations by the two remaining groups vying for the Waukegan license.

Las Vegas developer Full House Resorts and Lakeside Casino LLC, a group led by former Grayslake state Sen. Michael Bond are set to make their final presentations before the Board on October 3rd.

Sale of Arlington International Racecourse

Midwest Gaming’s withdrawal did not come without controversy. Hours earlier, Churchill Downs Inc. announced that it would sell Arlington International Racecourse to the Chicago Bears for $197.2M. Midwest Gaming is a joint venture of Churchill Downs and Rush Street Interactive.

But despite speculation, Rush Street spokesman Dennis Culloton said that it was a mere coincidence that they withdrew their application on the same day that the sale of Arlington was announced. Rush Street does not have an interest in the 326-acre parcel that could be the Bears’ destination but the company has a sponsorship deal with the team.

Going for the Chicago Mega-Casino?

The sudden turn of events led to speculation that the Rush Street consortium could be going all-in on a proposal for the recently approved Chicago mega-casino. Churchill Downs has been non-committal about a plan to apply for the Chicago casino which has gotten a lukewarm response from other national gaming developers due to high taxes.

It is also not clear in Churchill Downs or Rush Street Interactive or both as a partnership have applied for the 4,000 position Chicago casino but if they did, they would be considered instant favorites to get the license. RSI’s billionaire owner Neil Bluhm has close ties to Chicago Mayor Loi Lightfoot who earlier moved the deadline for submission of applications to October 29th.

More Issues Arise Opening a Casino-Resort in Chicago

Lori Lightfoot

For more than two years, state officials in Illinois have been working hard to open a new casino-resort in Chicago. Unfortunately, a huge number of issues have kept potential casino operators away. It now appears that the city is extending the deadline for companies to apply for a license to run this property.

Today, we’ll talk about why this deadline was extended. We will also discuss some of the ways that Illinois’ gaming industry is set to expand over the next few years. There’s a lot to cover.

Let’s get into it!

US Casinos Continue Seeing Boosts in Visitation Rates

Nearly all of 2021 has been hugely successful for the US casino industry. Major casino hubs have been seeing consistent jumps in their revenue and visitation rates. Some feared that this upward trend would be coming to a halt due to the spread of the new Delta variant.

As infection rates continued to grow, health officials around the country began recommending new measures. Some of these measures affected casinos. Various casino hubs around the country started ordering restrictions inside casinos once again.

Over in Las Vegas, masks are now required on the casino floor. Both patrons and employees inside of the casinos in Las Vegas need to wear these masks at all times. Similar measures have been set in place in various other popular casino destinations.

Fortunately, these new rules do not seem to be impacting these casino’s visitation rates. Many areas of the country continue to report increases in their revenue and tourism numbers. It’s fantastic news for these companies and shows how resilient this industry can be.

Between April and June, casinos in Las Vegas pulled in the best revenue figures since 2006. It seems that this will continue, despite the recently-ordered mask mandate. People around the country are clearly still interested in gambling inside popular casinos.

Illinois is home to a large number of popular casinos. Unfortunately, it does not appear that a casino will be opening in Chicago anytime soon.

Opening a Casino-Resort in Chicago is Taking Longer than Expected

Over the past decade, Illinois’ gambling industry has expanded significantly. Today, both tribal and commercial casinos are able to operate here. A huge number of these Class III casinos are spread throughout the state.

Illinois now also allows and regulates sports betting. Both land-based and mobile sports gambling are allowed in the state. In the short time this industry has been live here, Illinois has already generated the second-largest sports betting market in the country.

Since 2019, work has been ongoing to get a casino-resort in Chicago. State officials set unusually high tax rates on this venue that have kept most companies from expressing an interest in operating this property, though. Very few casino operators seem interested in applying for a license to run this proposed venue.

News broke this week that Chicago was extending the deadline for companies to apply for one of these licenses. The original deadline was set for August 23. Mayor Lori Lightfoot has officially pushed this back to October 29. The Mayor released a statement on this situation to the media this week.

“Extending the deadline for interested bidders will allow the City to collect as many robust, impactful and transformative proposals as possible,” she said. “I look forward to seeing these bids roll in and working very closely with whichever team is ultimately chosen to develop Chicago’s first-ever casino.”

Most of the country’s biggest gaming companies no longer seem interested in operating this venue. Several small, regional companies are still determined to apply for a license. We’ll be sure to offer more updates on this situation over the next few months.

Sports Betting Revenue Continues to Increase in Illinois

Illinois is one of the many states around the country to embrace the sports gambling industry. The first sportsbooks here officially launched in March of 2020. Revenue from this industry has been steadily increasing since the first sportsbooks launched here.

Not long ago, reports on Illinois’ sports betting revenue for the month of June came out. More than $476 million was placed on sports wagers in the state over the course of the month. That represents a slight handle drop when compared to May.

Interestingly, gross gaming revenue in the state came out to $47.5 million. That represents a staggering 31% increase from May. The state earned considerably more money via taxes in June as well.

Many analysts expect to see revenue figures increasing here over the next few months. The start of the NFL season is almost guaranteed to draw in a massive number of wagers. It’s an exciting time for the sports gambling companies operating here.

Stay tuned for more revenue reports here. It won’t be long before the reports on the revenue figures for the month of July come out. Hope is that the sports betting companies here saw another increase in their earnings.

Do you expect to see a casino-resort in Chicago anytime soon? Let us know in the comments section below!

More Issues Arise Opening the First Casino in Chicago

Casino In Chicago

For years, officials in Illinois have been interested in getting a major casino-resort open in the city of Chicago. Unfortunately, numerous issues have come up trying to move these plans forward. It now appears there are very few companies interested in opening the first casino in Chicago.

It’s disappointing news for gambling fans to hear. Today, we’ll talk about what needs to be done for this casino to open. We’ll discuss how the state’s current gambling industry is faring right now.

Let’s get into it!

Casino Officials Continue to Express Fear Over Additional Restrictions

The events that unfolded in 2020 proved just how vulnerable the US casino industry really is. For months last year, all of the casinos across the country were completely shut down. This took a devastating toll on the cities that these casinos are located in.

Even after reopening to the public, US casinos were forced to abide by intense health regulations. That includes lowered capacity limits and mandatory mask-wearing. These rules kept many individuals from making the journey to places like Las Vegas.

Things have been steadily improving for casinos throughout 2021. Tourism to major gambling hubs has been increasing and gambling revenue has been steadily rising. Unfortunately, there are some that fear a return to how things were last year.

The spread of the new Delta variant has many health officials worried. Some areas of the country have already begun ordering a new fresh set of health regulations. Several major casino officials are now expressing fear that their casinos could be ordered to implement more restrictions in the near future.

This would be a major blow for the major casinos in Las Vegas. These properties are beginning to see pre-pandemic levels of revenue right now. If a new wave of restrictions is implemented, much of the progress that was set in place here has been undone.

A group of officials in Illinois continues pushing to open a major casino-resort in Chicago. More issues continue to get in the way of this venue opening, though.

Here’s Another Update on the First Casino in Chicago

Illinois is known for its lenient laws toward gambling. Today, both casino gambling and sports betting are completely legal. In fact, the state’s sports betting industry is now the second-largest in the country after only New Jersey.

Back in 2019, lawmakers here approved a Capital Plan that allows for several new casinos to open around the state. This new plan also allows for a Class III casino to open its doors in Chicago. Unfortunately, getting this property up and running has been much more difficult than some initially expected.

Much of that has to do with the state’s regulations. Illinois set an unusually high tax rate on this Chicago casino. This has kept many of the country’s biggest gaming companies from expressing interest in opening the first casino in Chicago.

It seems that casino companies are still skeptical about the opportunity here. Four companies have expressed interest in opening this property. Two have formally dropped out and another seems to be showing more hesitancy. Alan Woinski, president of Gaming USA, spoke about this situation to the media this week.

“The casinos in the state have been in nothing but a downward spiral for a decade, except for Rivers,” Woinski said. “There’s no reason to believe that if you add a casino downtown that you’ll do anything but cannibalize the others, including Rivers. It’s kind of a zero-sum game and everybody loses.”

It seems there are still a huge number of issues in the way of this property opening its doors. Stay tuned for more updates on the effort to open a casino here over the next few months!

Will Sports Stadiums in Chicago Soon Allow Sportsbooks?

Illinois is now one of the country’s biggest and most profitable sports gambling hubs. Here, both online and land-based sportsbooks are operating. Some have been disappointed to see that none of the sports stadiums here have launched any sportsbooks, though.

When Illinois first launched its sports gambling bills, it was expected that stadiums here would allow sportsbooks. That hasn’t been the case, though. Chicago has set a ban on sportsbooks inside casinos since 2020.

This could soon change. News broke last week that Alderman Walter Burnett proposed a new ordinance that would allow for sports stadiums to purchase sports betting licenses. This could allow for Soldier Field, Wrigley Field, Guaranteed Rate Field, the United Center, and Wintrust Arena to each launch their own sportsbooks.

It remains to be seen if this new ordinance will gain any support from fellow lawmakers. Many in Illinois are beginning to see how much revenue can be earned from this industry. Sports fans are excited to hear that sports betting could be allowed inside stadiums.

If approved, this ordinance would also allow for sports betting to become available in the first casino in Chicago. This casino has to be built first, though. As of now, very few companies seen interested in opening this venue.

When do you expect a casino to finally open in Chicago? Do you think a gambling venue here will be successful? Let us know in the comments section below!

MGM Resorts Passes on Running the Chicago Casino

Chicago Casino

For years, officials in Illinois have been working on ways to build and open a new casino-resort in Chicago. Many are now beginning to question which company will choose to operate this gaming venue. New reports indicate MGM Resorts has no desire to operate the proposed Chicago.

There are several reasons why this is. Today, we’ll explain what has led to MGM Resorts passing on this venue. We will also talk about when and where this property could finally open its doors.

Let’s get into it!

Gaming Revenue Continues to Ramp Up Around the US

The US casino industry has been in a major recovery over the past few months. States around the country continue to report increases in revenue. Some, of course, are seeing more impressive revenue figures than others.

Nevada had a hugely impressive month during March. That month, the state saw an amazing 67% jump in overall gambling revenue. The Las Vegas Strip ended up bringing the largest revenue figures, yet the entire state saw a big increase.

New Jersey also experienced a major revenue boost during March. The casinos here reported an increase of 75% in revenue when compared to the same month in 2020. Both casino and sports betting revenue are up here.

Many of the country’s smaller gaming hubs have been seeing revenue increases, too. As a result, many states are once again looking at expanding their gambling industries. Many exciting new casino-resorts are expected to open around the country over the next few months.

Casino companies are seeing their stock prices increase. This trend is expected to continue as tourism rates into major gambling hubs increase. It’s an extremely exciting time for the country’s gambling industry as a whole.

Illinois is one state looking hard to open new casinos. That includes one in Chicago. Unfortunately, officials here are finding it difficult to find companies willing to operate this property.

MGM Resorts Shows No Desire to Operate the Chicago Casino

The US is home to many of the biggest, most successful casino companies on the planet. That includes MGM Resort, which owns and operates a huge number of major casino-resorts in Las Vegas. This company has expanded around the country over the past few years.

Interestingly, MGM Resorts is showing no desire to operate the proposed Chicago casino. Like many other companies, MGM feels there are too many issues surrounding this venue. That includes the high tax rate set in place here.

Company officials have confirmed that they are unlikely to apply for a casino license here. Instead, MGM is focused on locations such as Japan, Florida, and New York. Officials within the city of Chicago released a statement on this news this week.

“MGM Resorts is a respected company and Chicago would have been delighted to receive an MGM casino proposal,” the statement 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. However, we believe other well-respected casino operators have a different view of this once-in-a-lifetime opportunity in Chicago, and we expect to receive outstanding proposals for the Chicago casino.”

Many believe it’s time for Chicago to update its regulations. The tax rate set for the casino here is still considerably too high. Until this changes, more companies are likely to pass on applying for a license here.

Many are still asking where this new casino will be located. We are beginning to hear more about that as the year goes on.

What is the Most Likely Location for the Casino in Chicago?

There has been a huge amount of attention placed on Chicago’s casino plans in recent months. Officials here are realizing how much revenue can be earned from the gambling industry. Mayor Lori Lightfoot has been working hard to get this venue up and running as soon as possible.

Not long ago, reports surfaced that officials want to get this casino operational by 2025. It’s exciting news for gambling fans in the state. Of course, there is still no confirmation of where this casino will be located.

Eleven different companies have voiced their opinions on where this casino should be located. Most of them are favoring a downtown location. Ultimately, the location will be chosen by the company that receives permission to develop this property.

Hope is that this casino ends up being a major revenue-generator for the state. Many of Illinois’ lawmakers are expecting big things from this venue. If all goes according to plan, it will help to significantly boost tourism rates in Chicago.

The state’s sports betting industry continues to expand, too. Revenue from this industry continues to increase with each passing month. It’s an exciting time for the gaming market here.

Are you surprised to hear that MGM Resorts isn’t interested in opening the Chicago casino? Let us know in the comments section below!

Lori Lightfoot Wants More Information on the Chicago Casino

Chicago City

It’s been more than a year since lawmakers in Illinois approved a measure allowing several new casinos to open in the state. Unfortunately, there have been serious delays getting these new gaming venues up and running. This week, Lori Lightfoot began asking for more information on the proposed Chicago casino.

Many have been excited to see this new property open its doors. There are still questions over who will operate it, though. Today, we’re going to talk about what exactly is happening here.

Let’s get into it!

The Casino Industry in Illinois is Now Shut Down

Casinos around the United States continue to face difficulties. As cases of Covid-19 increase, more states are implementing tougher restrictions on their land-based gaming industries. Some states are taking more dramatic measures than others.

Over in Nevada, casinos are being hit with new capacity limits and tougher health restrictions. Tourism rates in this state continue to fall this year. Many of the biggest casino companies here have recently begun to shift their hours to save money.

Illinois has taken even more intense safety regulations. Not long ago, Governor JB Pritzker announced that all commercial casinos in the state were being ordered to shut down. It’s not much of a surprise when considering the massive increase in infections here.

Gambling operators here are disappointed by this news. It was less than two years ago that the state government passed a new capital plan allowing several new casinos to open in the state. Now, this state’s casino industry is coming to a halt.

Several other states have taken similar measures in recent weeks. The US casino industry is struggling in a way we’ve never seen before and analysts are torn on when things will begin to turn around. Hopefully, the casinos in Illinois won’t be forced to shut down for much longer.

Many are now calling for more work to be done on the proposed gaming venue in Chicago.

Lightfoot Asks Developers for an Update on the Chicago Casino

Lori Lightfoot has supported the plan to open a new casino in Chicago for years. When the capital plan was approved back in 2019, many felt work would immediately begin on this gaming venue. As most know, this has not been the case.

There have been many delays getting this property up and running. Initially, there was trouble getting companies to express interest in operating this venue. The tax rates on this property were extremely high and pushed many casino companies away.

The tax rate was then lowered and several companies began taking a closer look. Location then became an issue. Lightfoot recently began asking potential developers for tips on where they would like to see this venue.

This week, Lightfoot began demanding more information on the Chicago casino. It now appears she is getting some answers. The majority of developers claim that this casino should be located in Downtown Chicago.

Lightfoot seems open to this idea. She understands that opening the casino Downtown would maximize tourism and revenue.

The Chicago Mayor recently claimed that the responses from developers “are indicative of the excitement and anticipation of this once-in-a-lifetime project. Thanks to the responses of nearly a dozen RFI respondents, we are not only one step closer to bringing the long-awaited Chicago casino to life but have the critical information we need to ensure this project will be a success.”

It seems that lawmakers in Illinois are working hard to get this venue up and running. Hope is that things are a little more normal by the time this casino is ready to begin accepting players.

Illinois’ Sports Betting Industry Continues to Bring in Revenue

Lawmakers in Illinois finally approved sports betting earlier this year. It was a long time coming. This state has one of the largest sports betting fan bases in the country and many felt Illinois could become a sports gambling hub.

That has proven true! Since the first sportsbooks launched here, revenue from this industry has been slowly increasing. It’s great news for this state that is in desperate need of more revenue. September proved to be a highly profitable month for the sports betting operators here.

Reports claim that the state saw $305 million in sports betting handle last September. That’s nearly double from August’s handle. Most expect these figures to increase as the months go on.

Illinois is benefiting from its regulated online sports betting industry. Unlike some other states, Illinois allows residents to choose from a number of popular internet sportsbooks. It’s good news, as land-based sports betting is completely shut down here right now.

There is a lot happening with the gambling industry here. We are likely to hear more information on the Chicago casino in the near future. Make sure to stay tuned for updates!

Are you excited to see the new casino in Chicago open its doors? When do you expect this gambling property to open? Let us know in the comments section below.

Could a Temporary Casino in Chicago Open Next Year?

For more than a year, lawmakers in Illinois have been coming up with plans to open a new casino in the city of Chicago. It’s been a difficult process, yet things finally seem to be moving along. This week, several experts involved with the process presented plans to open a temporary casino in Chicago.Chicago City Skyline

It’s a unique idea, and one that Mayor Lori Lightfoot seems interested in. There’s still a long way to go before this new gaming venue can open, though. Today, we’re going to talk about when and where this casino could open its doors.

Let’s get into it!

Lori Lightfoot Continues Pushing for Chicago’s Casino Plans

Illinois won’t typically come up when thinking of major US gambling destinations. Based on the way things are going, however, that could change over the next few months. In 2019, Governor Pritzker approved a new capital plan that allows for several new casinos to open around the state.

There are several cities that have already gained approval to host one of these new casinos. To the surprise of everyone, lawmakers also approved a measure to allow a casino in Chicago. It’s set to be the first casino ever opened in this city.

Initially, lawmakers planned to set extremely high tax rates on this casino. This kept any casino companies from expressing an interest in operating this casino. Eventually, lawmakers decided to lower this tax rate to make things more appealing for these companies.

Location also became an issue. Officials within Chicago looked at several different areas for this new gambling property. Even today, it’s not entirely clear where the new casino will be located, although a few possibilities have been established.

Late last month, Mayor Lightfoot invited several major casino operators to discuss how they would run this new gambling venue. The mayor and her team wanted to hear more about how this property would operate from different companies. Analysts felt this would help these officials with the casino licensing procedure.

This week, several experts presented the idea to open a temporary gambling venue in this city. It appears that city leaders are interested in this idea.

Plans to Open a Temporary Casino in Chicago Are Being Presented

Many were interested to hear Lightfoot asking for plans to run the new Chicago casino. It’s clear that the mayor believes this gaming venue will benefit the city. Companies around the country have been offering their plans to run this casino.

Lightfoot also asked these company leaders to offer information on whether or not a temporary casino in Chicago would make sense. It seems that many feel this is now a good idea. One location is now already being considered for this venue, as well.

It’s now clear that this casino will open in the Downtown Chicago area. One group now believes that the Lakeside Center is the perfect place for this casino. It’s located near the water and some claim it was initially constructed with a casino in mind.

No one has confirmed this will be the location of this property. Lightfoot has not confirmed that this temporary casino will even open. If it does, however, many believe that the Lakeside Center is the perfect place for it to open.

Analysts predict that the new casino in Chicago will generate an incredible $6.6 billion in annual revenue. Unsurprisingly, city and state leaders want to get this venue open as soon as possible. We’ll need to wait and see if the Lakeside Center ends up being the location of the temporary casino.

Sports Betting Revenue Continues to Increase in Illinois

Back in May of 2018, the Supreme Court made history by striking down PASPA. It was a monumental decision and gave every state around the country the ability to legalize sports betting. Today, 24 states have legal sports betting bills approved.

Illinois officially made sports betting legal in March of 2020. Both land-based and online sports wagering is allowed here. As the months go on, revenue from this industry has been gradually increasing.

Soon, a new sportsbook will open its doors at Wrigley Field. It’s one of the first sportsbooks to open inside a major US professional sports arena. It’s clear that the state’s government officials are embracing this industry.

Sports gambling is growing more popular around the world. Many states are now looking into the possibility of opening sportsbooks inside their stadiums. We’re likely to hear more about this situation over the next few months.

Illinois is slowly becoming a major gambling destination. If everything goes according to plan, we could see a temporary casino in Chicago sometime next year. The real casino here may open its doors a year later.

Do you think a temporary casino makes sense for the city of Chicago? Where do you think it should be located? Let us know in the comments section below!