Rhode Island-based Bally’s Corporation has submitted two proposals for a lucrative Chicago casino and the company will be happy if either one wins.
Bally’s bids were among five recently submitted to the mayor’s office. However, one of Bally’s proposed sites already has fierce opposition from Sophia King, a South Side Alderperson. She has opposed a casino in her Bronzeville ward for many years.
On the other hand, Bally’s second proposal is being enthusiastically promoted by Alderperson Walter Burnett Jr. who says the site of the Chicago Tribune’s Freedom Center printing plant would be “ideal” for a casino.
However the drama plays out, Bally’s would go all out, investing $1.6 billion for a new Chicago casino resort. The taxes generated by a new casino would help to fund Chicago’s depleted firefighter and police pension funds.
Chris Jewett, Bally’s director of corporate development, says the company doesn’t have a preference for either site. Bally sees both sites as potentially very lucrative.
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McCormick Place Truck Marshalling Yard Site Faces Opposition
One of Bally’s proposed sites is the 28-acre McCormick Place truck marshalling yard, which is in Alderperson King’s 4th ward.
The site is also next to the old Michael Reese Hospital site that’s currently being redeveloped; King has stated for a long time that this area is off-limits to a casino. In fact, King issued a statement that the 28-acre location within her ward “should be eliminated immediately” from any consideration. King asserts that her ward has been clearly in opposition to a casino being built within the community.
King says she’s open to the idea of using casino tax revenue to help the city deal with its overwhelming financial shortfalls. But, she also asserts that a casino should not be done at the expense of marginalized communities, including the 4th ward.
Wanda Wilson, who sits on Bally’s board of directors, hopes to find some common ground with King.
She points out that Bally’s has engaged community groups in many meetings and will continue to meet with community members to make sure the project is successful. Bally does not want to put a casino in a neighborhood that will not be accepted by the community.
The 27th Ward Welcome’s a Bally’s Casino
Bally’s proposal for the Freedom Center received a warm welcome from Alderperson Walter Burnett Jr. of the 27th ward.
Burnett points out that it’s just off the expressway, and that a lot of tourists pass through the neighborhood on their way to Navy Pier. He hasn’t yet gauged how his community feels about a casino but points out that it would bring a lot of jobs to the neighborhood.
For either location, Bally’s would build a temporary casino next to the Freedom Center while a permanent casino is under construction.
If the Freedom Center bid wins, the old Chicago Tribune printing plant would be demolished. The Freedom Center also houses the paper’s newsroom. Representatives for the Tribune and Alden Global Capital, a hedge fund that controls the Tribune, have not commented on any future plans to continue printing the paper.
Nexstar Media Group owns The printing plant and leases it to Tribune Publishing. Nexstar says that Bally’s has an option to purchase the location.
Bally’s is Ready for Either Location
Chris Jewett, director of corporate development for Bally’s, says the company has envisioned very similar plans for both potential locations. The plans include not only a casino but also a luxury hotel, fine dining, indoor and outdoor entertainment, a sports museum, and community green spaces.
Bally’s has also indicated that minority investors including not only business owners but also philanthropists and sports stars, will make up 25% of the ownership.
Bally’s is Up Against Stiff Competition
Bally’s is competing against three other proposals for a coveted and lucrative Chicago casino license.
Two of those bids are from Rush Street Gaming; one is proposed for McCormick Place’s Lakeside Center, and the other at The 78, which is currently a large, vacant lot near Clark Street and Roosevelt Road.
The final proposal was submitted by Hard Rock International. The hospitality giant wants to build a casino resort at the proposed One Central redevelopment project. This proposed site is across from Soldier Field on DuSable Lake Shore Drive.
The mayor’s office has indicated that a review committee comprised of a cross-section of the city’s departments will convene to review all of the proposals. This committee will ultimately recommend a winning bidder. The plan is to open a new casino resort in the city by 2025.
