The ultra-luxurious and exclusive American Place project will transform Waukegan into a world-class travel destination.
Just 35 miles northeast of Chicago, the high-end casino resort includes The Mansion, an exclusive boutique hotel comprised of 20 1,500 to 2,500 square foot villas. The Mansion has been specifically designed for the casino’s VIP players and Chicago’s elite travelers. The exclusive accommodations include butler service, spa service, a private pool, and a helipad.
Of course, American Place will also include a gaming floor rivaling the best in Monte Carlo. Guests will also enjoy a 1,500-seat entertainment venue, as well as top-end restaurants and cocktail lounges. An anticipated second phase of development includes a 150-room luxury hotel.
The project by Full House Resorts, designed by Jerde, a Los Angeles-based architecture firm, is expected to cost $375 million.
During construction, American Place plans to open The Temporary Casino by American Place. No details yet about the temporary casino, except that it could open as early as the summer of 2022.
American Place is expected to welcome well over 2 million guests in its first year, and generate more than $255 million in gross revenue. The property also expects to hire around 1,150 full-time employees and at least 700 part-time employees.
American Place could generate more than $22 million in taxes, lease payments, and other fees for the city of Waukegan. It would also generate more than $3 million in taxes to Lake County, more than $2 million to North Chicago, and nearly $1.5 million to Park City.
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Chicago Casino Project Drags On
Hard Rock International also has a world-class casino resort project underway in Rockford, around 90 miles northwest of Chicago. The temporary Hard Rock Casino has already opened and is doing blockbuster business. Hundreds of Rockford locals have been employed, and residents are enjoying the two restaurants and 625 slot machines. Meanwhile, the permanent, 65,000-square-foot casino and hotel at East State Street and I-90 is expected to be completed sometime in 2023.
While cities in other parts of the state have major casino-resort projects underway, Chicagoans continue to wait for a first casino within the city limits.
The city of Chicago accepted proposals through October 29, 2021. It received five competing proposals, two by Rivers, two by Bally’s, and one by Hard Rock. Several major players in the casino industry, including Caesars, MGM Resorts International, and Wynn bowed out, due to Chicago’s high taxes and other issues.
Potential locations for a Chicago casino range from Lakeside Center, The 78 in the South Loop, the Chicago Tribune’s Freedom Center, and even the Palmer House. On December 16, 2021, the bidders made their pitches to the mayor and city council for five possible locations.
Neil Bluhm and Rivers Casino made a pitch for McCormick Place and the Lakeside Center. Bluhm and his group said they could open a casino at Lakeside Center within a year.
Bally’s pitched two proposals, one for the Chicago Tribune Freedom Center and one for McCormick Place. The Rhode Island-based casino company promised to create 2,000 permanent jobs for Chicago residents.
Finally, Hard Rock made their pitch for a casino at the proposed One Central project Soldier Field. Hard Rock’s pitch included the assertion that their ownership group is comprised of at least 50% Black and minority investors at the partnership level.
City Council officials are expected to make a recommendation to Mayor Lightfoot early in 2022. The mayor will make the final choice, and forward that to the Illinois Gaming Board. The developer chosen by Lightfoot would then need to apply for approval from the state. The mayor hopes to have a casino built by 2025.
Chicago Sportsbooks Approved and Move Forward
While a Chicago casino is still a few years away, the Chicago City Council’s License and Zoning Committees recently approved an ordinance allowing sportsbooks to open at Chicago professional sports stadiums. A 2% tax on top of the 17% Cook County tax on sports betting clinched the deal.
DraftKings already has plans to build a sports bar at Wrigley Field that should be open for the Chicago Cubs 2023 season.
Other stadiums that are now open to operating retail sportsbooks are Wintrust Arena, United Center, Guaranteed Rate Field, and Soldier Field. Not only will Chicago sports bettors be able to place bets at the stadiums, but they’ll also be able to place bets on college games. However, wagers placed on college games need to be placed in-person, not from a mobile sportsbook.
The final good news for Illinois sports betting is the in-person registration requirement ends March 5, 2022. Sports bettors in the state will soon be able to open new accounts online.
