Chicago Now Accepting On line casino Bids Right until Late October

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Chicago Mayor Lori Lightfoot final 7 days extended the deadline for bids for the city’s prolonged-sought 1st-ever on line casino amid waning interest from huge-league gaming and hospitality operators.

The town commenced having proposals from builders intrigued to construct and operate a casino resort within town restrictions this earlier April.

Mayor Lightfoot experienced set an August 23 deadline for bids, but these can now be submitted until eventually Oct 29. Chicago’s major formal reported Friday that the new deadline would give possibly fascinated teams “more time to absolutely assess” the prospect and to “assemble much more competitive bid packages.”

Chicago was one particular of six towns that were being permitted to host Las Vegas-type casinos for the 1st time underneath a complete gambling monthly bill signed into regulation by Illinois Gov. J. B. Pritzker in the summertime of 2019.

Mayor Lightfoot place out the formal ask for for proposals this spring right after the city secured a legislative resolve decreasing the originally proposed on line casino tax fee from an “onerous” 70% to about 40%.

The formal claimed on Friday that extending the deadline “will enable the City to obtain as a lot of strong, impactful and transformative proposals as possible” and that she is hunting forward to observing all the bids the city will acquire and doing the job “very intently with whichever crew is in the end picked out to produce Chicago’s very first-ever casino.”

On line casino Powerhouses Demonstrate No Interest in Chicago

Analysts say the two-month deadline extension could be a sign that there is a deficiency of interest in what some consider a dangerous endeavor. MGM Resorts Intercontinental and Caesars Leisure, Inc. have been among the organizations to have recently said they will not post a proposal for a on line casino in Chicago.

All through the company’s quarterly connect with last 7 days, Caesars CEO Tom Reeg reported that he’s “got no curiosity in Chicago.”

MGM previous yr participated in Chicago’s non-binding request for info method, alongside with 10 other teams. Even so, the company’s CEO, Monthly bill Hornbuckle, explained previous month that “Chicago is just complicated” and that “the background there in Chicago, the tax, and the notion of integrated resort at scale never automatically marry up.”

Wynn Resorts, a different key US casino operator with robust presence in key marketplaces about the country, experienced initially expressed fascination in Chicago, but very last thirty day period introduced that it would not go after enlargement in that individual marketplace.

That leaves Rush Avenue Gaming, a Chicago-based regional casino operator, the sole verified interested suitor. It is unclear if the firm has previously submitted a bid, however.

Rush Road operates Rivers Casino Des Plaines, Illinois’ greatest grossing casino, and is also in the running for a new casino in Waukegan.

Nonetheless, a possible Chicago proposal from this team could strike a bit of a political roadbump as the daughters of Rush Street’s chair, Neil Bluhm, have contributed more than $200,000 to Ms. Lightfoot’s mayoral marketing campaign fund.

Source: Calling a redeal: Lightfoot pushes back casino application deadline, hoping to attract some motion to the desk, Chicago Sunshine-Situations, August 6, 2021