CHICAGO | City Casino

[west-town-brad]

Originally Posted by Randomguy34

Casino royal defends his crown

https://www.chicagobusiness.com/comm...ends-his-crown

Sad but not surprising that only one bidder is perhaps, maybe interested in the Chicago opportunity.

[Randomguy34]

City now expects multiple casino bids

A source close to the matter says the city expects to receive as many five formal bids for the Chicago operation by the Oct. 29 deadline, with three certain and another awaiting only some final steps to secure financing.

The bids reportedly will include at least one from a publicly traded firm and one from a private group. No Indian tribe now is expected to compete, nor is a Chinese firm that insiders say had expressed some interest.

Though City Hall sources would not name any names, one of the bidders is expected to be a partnership of Neil Bluhm’s Rush Street Gaming and Related Midwest, with the casino, if awarded by the city, to go on Related’s "The 78" development at Roosevelt and Clark.
....
One location some insiders say is being eyed for a potential casino is Tribune-owned property at Chicago and Halsted. The local alderman, Brian Hopkins, 2nd, said he’s heard that chatter but says no one has come to him with a proposal, perhaps because, for legal reasons, he is not accepting calls from casino lobbyists until actual bids are filed.

A lively competition of three or more serious bidders would boost odds that Lightfoot will get what she wants: creation of a casino-based entertainment district, likely in the central area of the city, that would include not only gambling but shopping, dining, hotel space and more. If Bluhm won nonetheless, it would tend to disprove chatter that he had an inside track.

https://www.chicagobusiness.com/greg...=hero-readmore

[galleyfox]

Looks like it’s going to be 4-5 bids in the end. I wonder if Covid was a factor in delaying the other bids? It’s not like 4 other companies just suddenly became interested last month.

[Handro]

After spending the weekend in Nashville for a wedding and unfortunately ending up on Broadway for a horrible lunch experience, I'm even more anxious about a potential "entertainment district" anchored by a casino. The types of restaurants/venues/hotels/bars could really be a blight on an otherwise desirable neighborhood if it ends up being too expansive. A large yet subtle hotel/casino downtown is one thing, but a casino site surrounded by large swaths of developable land (a la Chicago/Halsted mentioned in the Crain's piece) could end up being the source of lots of regret in 20 years.

[k1052]

Originally Posted by Handro

After spending the weekend in Nashville for a wedding and unfortunately ending up on Broadway for a horrible lunch experience, I'm even more anxious about a potential "entertainment district" anchored by a casino. The types of restaurants/venues/hotels/bars could really be a blight on an otherwise desirable neighborhood if it ends up being too expansive. A large yet subtle hotel/casino downtown is one thing, but a casino site surrounded by large swaths of developable land (a la Chicago/Halsted mentioned in the Crain's piece) could end up being the source of lots of regret in 20 years.

This is another good reason to plop it down in River North. It's pre-stocked with options for mediocre and/or regrettable experiences!

[ih8spires]

Shouldn't Rush Street Gaming have their casino on Rush Street? There is a big parking lot available!!

[Kngkyle]

I would imagine one of the new entrants will be a consortium including Bob Dunn and his One Central project. Part of the deal would include the renovation and doming of Soldier Field and the renewal of the Bears lease. The casino then gets located conveniently between Soldier Field and McCormick Place with express bus service to Millennium Park.

Big wins for Lightfoot across the board. Investment in the 'South Side' (a bit of a stretch in reality) and keeping the Bears in the city.

[rivernorthlurker]

Originally Posted by Randomguy34

City now expects multiple casino bids


https://www.chicagobusiness.com/greg...=hero-readmore

A tenth of a mile from Cabrini. Brilliant idea.

[BruceP]

Originally Posted by rivernorthlurker

A tenth of a mile from Cabrini. Brilliant idea.

You better go back in time and warn all those folks thinking of buying all those million dollar condos and multi-million dollar town houses that are even closer to Cabrini that they better not if they know what's good for them.

[Mister Uptempo]

Originally Posted by ih8spires

Shouldn't Rush Street Gaming have their casino on Rush Street? There is a big parking lot available!!

Is Bluhm's bid already a done deal?

Rush Street Gaming and Churchill Downs, Inc. informed the Illinois Gaming Board on September 30 that, after pursuing a license for a new casino in Waukegan for two years, they were withdrawing the bid.

ETA - Then again, after the way CDI handled the entire Arlington fiasco, perhaps someone at the IGB told Churchill to not waste their time on pursuing any bids in Illinois. Does anyone know whether CDI is part of Rush Street's bid for the downtown casino?

[OrdoSeclorum]

Originally Posted by rivernorthlurker

A tenth of a mile from Cabrini. Brilliant idea.

No kidding. But The 78 site has nearly the exact same problem. Do you know how many brothels and faro tables were in that area in the 1880's? Visitors aren't going to want to be near that stuff.

[LouisVanDerWright]

Originally Posted by OrdoSeclorum

No kidding. But The 78 site has nearly the exact same problem. Do you know how many brothels and faro tables were in that area in the 1880's? Visitors aren't going to want to be near that stuff.

Just wait til Hinky Dink Kenna catches wind of this. He'll shut the proposal down immediately for not coming to him first before proposing it publicly!

[ardecila]

Originally Posted by rivernorthlurker

A tenth of a mile from Cabrini. Brilliant idea.

Data does show a higher incidence of problem gambling among Black Americans than white ones, but it also shows a higher incidence among Hispanic and Asian Americans as well. Virtually all of the sites under consideration are close to some minority community, so I don't know why "being near Cabrini" is worse than "being near Pilsen" or "being near Chinatown".


I also think the Chicago/Halsted site offers certain advantages that don't apply to other sites:
1) The Tribune buildings are large enough to accommodate a temporary casino, which could get up and running quickly and start putting money into the city's coffers sooner.
2) good expressway access, including the possibility for direct ramps into the complex. Call it the [Tourists from] Ohio Feeder.
3) Reasonably close to the Blue Line at Grand and one of the city's best bus routes on Chicago, plus the future North Branch Transitway running directly thru.
4) Existing restaurant district at Grand that provides a ready-made "entertainment district" near the casino

I do think the site is big enough that the casino could sprawl into a huge suburban-style complex. But that wouldn't be any worse than the Tribune development that's there now, and hopefully the city could push the bidders into a more urban format with room for mixed-use development around the casino itself.

[psxvz]

Hard to see people in the south loop thrilled with the idea of a casino on Roosevelt. Plus there are 4 elementary schools within 2 blocks of The 78.

[Randomguy34]

Hard Rock Reconsidering Chicago Bid, Also Open to Las Vegas Casino Purchase

Jim Allen, Hard Rock’s chairman and Seminole Gaming’s CEO, told reporters at the Global Gaming Expo (G2E) Wednesday that the Florida-based gaming company is re-evaluating the opportunity.

Hard Rock was one of the companies that responded to the city’s request for information solicitation last year. MGM Resorts International and Wynn Resorts, two other gaming companies that responded to that, have said they would not pursue the opportunity.

Allen said that the company was “recourted” after having been hesitant about the opportunity.

"Frankly, we need to make a decision prior to the end of this month… We’re evaluating that now,” he said.

https://www.casino.org/news/hard-roc...sino-purchase/

[harryc]

Originally Posted by Randomguy34

Hard Rock Reconsidering Chicago Bid, Also Open to Las Vegas Casino Purchase

https://www.casino.org/news/hard-roc...sino-purchase/

Will this have any effect on the project going on in Rockford ? ( site of the old clock-tower on US-90 )

[ardecila]

Maybe, maybe not. Hard Rock just took over and replaced the old Majestic Star in Gary, so clearly it's not a dealbreaker to have multiple casinos in one market.

[galleyfox]

But the three reportedly are Chicago billionaire Neil Bluhm in association with a unit of Related Midwest, Bally’s and, it appears, Hard Rock.

How good their bids are won’t be known for sure until details are disclosed. But one insider tells me that all three are solid propositions and legitimate attempts to win the casino for their bidders.

Bluhm has hooked up with Related Midwest for a casino that presumably would go on the real estate firm’s property for the 78 development on the south side of Roosevelt at Clark along the south branch of the Chicago River. Gossip among insiders suggests one of the other two bidders will likely propose using land in or around the former Chicago Tribune property at Chicago Avenue near Halsted Street

The most interesting talk, though, involves property farther to the east: either the obsolete Lakeshore East building in the McCormick Place campus—perhaps just for a temporary casino while the permanent one is built—or on developer Bob Dunn’s budding One Central project that would rise on a platform over Metra Electric tracks just west of Soldier Field.

https://www.chicagobusiness.com/greg...ely-make-pitch

[Randomguy34]

Not surprised the casino sites will be at megadevelopments, it will be interesting though to see which site the city picks. Lightfoot has said in recent interviews she wants South Loop to be the city's premier entertainment district, so there might be a bias towards a casino at The 78 or One Central

[twister244]

Originally Posted by Randomguy34

Not surprised the casino sites will be at megadevelopments, it will be interesting though to see which site the city picks. Lightfoot has said in recent interviews she wants South Loop to be the city's premier entertainment district, so there might be a bias towards a casino at The 78 or One Central

I would prefer to see this south of downtown.... I don't have a stake, or gamble, but the North Side / River North doesn't need this. Put it in a part of the city that will continue to spread growth where it's needed....