The Chicago City Council has faced quite the uphill task as far as the approval of contracts for the new Chicago casinos is concerned. When the council approved the $1.74 billion contract that would see a Bally’s Corporation casino introduced to the River West neighbourhood, most people sighed in relief. However, the controversies and wrangles surrounding the construction of the new casino facility are far from over.
In the past, various aldermen and government officials have spoken out against the project. Many have criticized Mayor Lori Lightfoot’s approach, claiming that the process has been rushed. The new Bally’s casinos were planned for the old Tribune publishing plan at North Halsted Street and West Chicago Avenue but the land is yet to be developed.
According to the mayor, the construction of the new facility is anticipated to take 3 years, with the projected debut date expected to fall sometime in 2026. In the meantime, a temporary casino will serve guests at the Medina Temple. This temporary casino is expected to be up and running before the end of 2023.
However, according to the Illinois Gaming Board’s website, Bally’s license is still pending. Mayor Lightfoot and her team have done their best to move the process along, especially owing to the upfront payment of $40 million that Bally’s is offering the city. This payment will be instrumental in staving off a pre-election property tax boost in the city.
The cash influx will also help to bankroll the police and fire pensions in 2022. The need for this money is what has led the mayor to step on the gas of the new project. However, several officials such as Ald. Brendan Reilly argues that the city should be taking more time to evaluate the project to avoid massive financial implications. This may largely help to explain why Bally’s license is still pending.
What we cover
Illinois is in the middle of a casino boom
The Illinois brick-and-mortar casino market is expected to soar before too long now. That’s because the state appears to be in the midst of a casino boom. For a long time, the state’s casino gambling was made up of primarily 7 casinos. However, the 2019 law, signed into law by Gov. J.B. Pritzker, saw the approval of 6 new casinos in the state.
Over the last couple of months, the number of casinos has increased to 11, which now consists of Hard Rock Rockford. There are still 5 more physical casinos in the works. However, the biggest of these ongoing projects is Bally’s Chicago Casino opening, which is anticipated to be complete by 2025.
The state’s newest casino, Hard Rock: An Opening Act, is already performing beyond expectations. The temporary casino, which was opened close to the border of Illinois and Wisconsin in November 2021 has been growing steadily. According to the Illinois Gaming Board, approximately 45,000 punters visited the temporary casino this July, the highest number of visitors that the casino has welcomed since it opened last year.
The City of Rockford has so far emerged as the biggest beneficiary of this new temporary casino. The city has been relying on the tax generated by the temporary casino to invest in important projects in the community. So far, Hard Rock: An Opening Act, which is one of the smallest casinos in the state, has generated more than $1 million in tax revenue for the city of Rockford.
This is proof that even smaller brick-and-mortar casinos come with a host of financial benefits. Before the opening of Hard Rock Rockford, residents of the city had been demanding a casino as they would be forced to travel to neighboring cities like Indiana, Wisconsin, and Iowa to get their gambling fixes. With the addition of new casinos, money is no longer fleeing the state and is instead being re-directed to various important community-building projects.
The first $1.5 million generated by the city has already been utilized to finance the Rockford promise, which is a non-profit organization that offers full-tuition scholarships to students in different Rockford public schools. Hard Rock’s permanent location is expected to open next year and will offer 625 slot machines, as well as an array of electronic table games.
But this won’t be the only permanent casino located close to the Wisconsin border. In a few months, Full House Resorts is also expected to open The Temporary by American Place this October in Waukegan. This facility will be situated 54 miles south of Milwaukee and will consist of at least 50 table games and more than 1000 slot machines.
The Temporary by American Place will only be located 70 miles from Hard Rock Rockford. Boasting 70,000 square feet of massive gaming space, this new location will also be home to a sportsbook by Circa Sports, which will come complete with 39 TVs, which will help to expand the Illinois sports betting footprint even further.
In March, state regulators also approved a plan for the construction of a new casino facility in Danville. The Illinois Gaming Board okayed plans for the Golden Nugget Danville Casino, which is expected to be a 41,500-square-foot gaming floor. This new facility is expected to hold at least 500 slot machines, 14 table games, restaurants, as well as a sportsbook.
In September last year, the Gaming Board also approved a license for the physical casino to be constructed in southern Illinois. The multi-million project is anticipated to cost the state $140 Million and will see the addition of a massive gaming floor, new slot machines, a high-end sportsbook, a hotel with 116 rooms, as well as multiple restaurants that will offer nighttime entertainment. The county also approved an additional $10 million that would be dedicated to road work leading to the brand-new facility.
Final Thoughts
Lastly, the Gaming Board also approved the construction of the Wind Creek Chicago in Southland. This new facility will be located on the south of Interstate 90-294, at Halsted Street which is located on the border of Homewood and East Haze Crest. This new facility is also expected to be up and running by next year and will consist of 1350 slot machines and at least 56 table games.
