{"id":12405,"date":"2022-05-06T15:00:52","date_gmt":"2022-05-06T15:00:52","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=12405"},"modified":"2022-05-06T15:00:52","modified_gmt":"2022-05-06T15:00:52","slug":"ballys-to-develop-chicago-casino-resort-after-winning-license","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/ballys-to-develop-chicago-casino-resort-after-winning-license\/","title":{"rendered":"Bally&#8217;s $1.7bn Casino Resort A Go After Winning Chicago License"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2022\/05\/proposed-ballys-chicago-casino.jpg\" alt=\"Proposed Bally&#039;s Chicago Casino\" title=\"Bally's $1.7bn Casino Resort A Go After Winning Chicago License\" width=\"300\" class=\"alignleft size-full wp-image-12406\" \/><strong>Summary<\/strong><\/p>\n<ul>\n<li>Chicago Mayor Lori Lightfoot has selected Bally\u2019s for a casino license <\/li>\n<li>Bally\u2019s will invest  $1.7 billion to develop its Chicago Casino Resort<\/li>\n<li>The project includes a 500-room hotel tower, as well as food, leisure, and gaming amenities<\/li>\n<\/ul>\n<p>After decades of waiting, Chicago, <a href=\"https:\/\/www.legitgambling.com\/us\/states\/illinois\">Illnois<\/a> will finally have its first-ever casino, and it will rise at the <strong>Chicago Tribune Publishing Center<\/strong> in River West. <\/p>\n<p>The license bid was awarded to Bally&#8217;s project after the months-long casino license bidding process came to a close. <\/p>\n<p>Announcing her top pick, Mayor Lori Lightfoot said <strong>Bally&#8217;s $1.7 billion casino project will create thousands of jobs for Chicago<\/strong>, provide more funds for the city&#8217;s pension programs, and play a vital role in building a bright financial future for the city. Officials said it was the only proposal that met or surpassed the casino-selection committee&#8217;s core goals. <\/p>\n<p>Bally&#8217;s outclassed the other bidders in terms of overall financial offer, and the lack of a competing casino in the area has also been one of its selling points. <\/p>\n<div style=\"position:relative;height:0;padding-bottom:56.25%\">\n<iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/ykV1ZWr7BFk?rel=0&amp;showinfo=0?ecver=2\" width=\"640\" height=\"360\" frameborder=\"0\" style=\"position:absolute;width:100%;height:100%;left:0\" allowfullscreen><\/iframe>\n<\/div>\n<p>&nbsp;<\/p>\n<p>Additionally, Bally&#8217;s also managed to reach an agreement with the <strong>Chicago Federation of Labor<\/strong> (CFL), with its jobs scheme designed to benefit the lowest-income neighborhoods and those with high unemployment rates. Bally&#8217;s proposals also include a unique crowdfunding initiative that provides opportunities for small investors. <\/p>\n<p>Mayor Lightfoot said Bally&#8217;s will transform Chicago into a premier entertainment district that residents can take pride in. Bally&#8217;s River West proposal outshined the other two finalists \u2013 <a href=\"https:\/\/www.legitgambling.com\/news\/chicago-casino-should-not-be-built-at-one-central-says-alderwoman-pat-dowell\/\">Hard Rock&#8217;s One Central<\/a> and <a href=\"https:\/\/www.legitgambling.com\/news\/srong-opposition-to-rivers-78-chicago-casino-continues\/\">Rush Street Gaming&#8217;s Rivers at the 78<\/a>.<\/p>\n<p>Bally&#8217;s Corp Chairman <strong>Soo Kim<\/strong> said they&#8217;re excited to build a world-class gaming and entertainment spot that the city of Chicago truly deserves. <\/p>\n<h2>Bally&#8217;s Chicago Casino Proposal <\/h2>\n<p><a href=\"https:\/\/www.ballys.com\/chicago\/\">Bally&#8217;s Chicago casino<\/a> will be home to a 3,000-seat theater, a hotel tower with 500 rooms, multiple restaurants, and cafes, and an amenity terrace with a fitness center, pool spa, and sun deck. The project also includes a pedestrian bridge and an extension of the Riverwalk. Customers will also have access to an outdoor park and music venue.<\/p>\n<p>Casino patrons will enjoy a huge gaming area that will house 3,400 slots and 170 game tables.<\/p>\n<p>The casino development will contribute approximately $200 million in annual tax revenue to Chicago, a portion of which will be used to fund police and fire pensions. Bally&#8217;s is planning to open a temporary casino at the site of the Medinah Temple.<\/p>\n<p>All parties involved will now negotiate a Host-Community Agreement which will then be assessed by a special committee. The project will need approval from the City Council and the Illinois Gaming Board before construction and development can commence. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Summary Chicago Mayor Lori Lightfoot has selected Bally\u2019s for a casino license Bally\u2019s will invest $1.7 billion to develop its Chicago Casino Resort The project includes a 500-room hotel tower, as well as food, leisure, and gaming amenities After decades of waiting, Chicago, Illnois will finally have its first-ever casino, and it will rise at [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7,2,1],"tags":[],"class_list":["post-12405","post","type-post","status-publish","format-standard","hentry","category-casino","category-legislation","category-usa"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - 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