Author: Joe Kizlauskas
Last Updated: 9th August 2021
Lori Lightfoot, the mayor of Chicago, announced that the city has granted a two-month extension to its request for proposal, which will let applicants to compete for the region’s lone casino licence.
This was done to give potential bidders more time to evaluate the Chicago casino opportunity, conduct extra due diligence, put up more competitive bid packages, and look at financing options.
“This historic casino project stands to expand the economic vibrancy and strength of our city by bringing sustainable, good-paying jobs to residents from underrepresented backgrounds and creating a world-class casino-resort that attracts visitors from all over,” said Lightfoot.
“Extending the deadline for interested bidders will allow the city to collect as many robust, impactful and transformative proposals as possible. 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.”
The holder of a Chicago owner’s licence will be authorised to operate a temporary casino for up to 24 months (with the possibility of a 12-month extension) before moving to a permanent facility in the city.
Additionally, the chosen operator will get the opportunity to operate slot machines at both Chicago Midway International Airport and Chicago O’Hare International Airport.
A casino resort with 500 rooms or less, conference space, restaurants, bars, entertainment venues, and more are all required aspects of the project, which also includes a number of essential elements.
In 2019, the potential gaming operator will be able to draw on a metropolis with a population of 9.5 million people and 60 million domestic and 1.5 million international tourists.