Chicago’s Mayor, Lori Lightfoot, has announced the selection of Bally’s Corporation, and its proposed $1.7bn casino resort, as the recipient of Chicago’s sole casino licence.
Located on the site of the city’s Tribune Publishing Center, the new resort is expected to create 3,000 construction jobs and once opened, a further 3,000 permanent casino and other roles.
The proposed development consists of a 500-room hotel, a 3,000-seat theatre, a casino with room for 3,400 slot machines and 170 table games and a range of outdoor music and parkland spaces.
Soo Kim, Chairman of the Bally’s Board, commented: “We would like to thank Mayor Lightfoot and her office for conducting a tough, but fair, process and selecting Bally’s Chicago as the final bidder for the city’s casino. Chicago is a unique and vibrant city, deserving of a world-class gaming and entertainment destination that is of, by and for the people by driving the local economy, supporting local labour, creating multigenerational wealth for minority investors and showcasing the best of what the city has to offer. We look forward to continuing to work collaboratively with Mayor Lightfoot and all our valued community partners on this exciting endeavour.”
Bally’s proposals include economic and financial benefits to the city, such as a commitment to hiring 60% of the workforce from minority populations, with Mayor Lightfoot adding: “We are confident the Bally’s Tribune Publishing Center development will shore up the City’s pension funds, create thousands of well-paying jobs and lead to a bright financial future for our city.”
The new Bally’s Chicago casino is projected to generate $400m in annual gaming revenue for the city of Chicago and the state of Illinois.