The city of Chicago is officially looking for developers for the city’s first casino to be built by 2025. City officials are looking to boost tourism while bringing revenue to the city. Many leaders are favoring a downtown location, but it will be up to the operator.
Mayor Lori Lightfoot announced on April 22nd that the city is accepting proposals for companies to operate:
- The casino
- The hotel with up to 500 rooms
- Restaurants and bars
- Slot machines installed in both Chicago airports
The operator whose proposal is accepted will be able to have 4000 seats where bets are placed. Chicago will also allow for a “temporary casino” to be set up and operated for up to two years until the project is completed.
According to the mayor, the timeline expects official bids to be publicly presented in September. The winner will be selected in 2022.
City leaders believe that there is a significant increase in interest in casinos. They hired a consulting firm out of Las Vegas that estimates a casino would bring around $1 billion annually in revenue if located in Downtown Chicago.
The casino industry revenue in 2020 was $227 billion, and Chicago leaders believe bringing the industry to the city will boost jobs, infrastructure, and other businesses. It will increase the city’s budget as well.
The city’s plans for a casino coincides with many of its neighbors who are opening casinos. This includes the Rivers Casino in Chicago’s suburb of Des Plains, Hard Rock Casino in Gary, IN, and Ho-Chunk Nation casino in Beloit, WI.
You can visit the city’s official website for official requirements or if you would like to request a proposal.