Gambling site

Mayor Lori Lightfoot chooses play site in River West

Mayor Lori Lightfoot has chosen a gambling complex in River West for a casino license, something the area has long sought. This move is intended to accelerate Chicago’s financial health and maintain the regional currency within the state.

Bally’s hopes to add it as a flagship location in its chain which already includes 14 casinos in 10 states. $1.74 billion has been advanced by Mayor Lori Lightfoot for the development of casinos, hotels and entertainment. The complex is expected to have a 3,000-seat theater, an exhibition hall, an outdoor concert hall, a 500-room hotel, six restaurants and gaming space sufficient to accommodate 170 tabletop games and 3,400 table games. slot machines.

Mayor Lori Lightfoot announced a victory lap, stating that former mayors tried to get an online casino in the area for decades, but succeeded. She cited how Mayor Richard M. Daley repeatedly tried to get a casino in Chicago.

Previous attempts failed because it was possible that the state legislature had no appetite to help the city, a statement strongly echoed by Mayor Lori Lightfoot.

She claimed that having a casino in the area signals that the state’s economy is on the verge of recovery after suffering badly due to the Covid-19 pandemic and civil unrest.

The proposal would have succeeded for reasons such as:-

  • Reaching a labor peace agreement with the Chicago Federal of Labor; and,
  • No competing casinos in the Chicago area.

Lightfoot spoke to the press to express her confidence in the development of Bally’s Tribune publishing centre, saying it would be buttress city ​​pension fund, create thousands of jobs and lead the city to a better financial future.

Another aspect of this story poses a challenge to all the developments Lightfoot presented in his statement. Mayor Lori Lightfoot and the developers have yet to convince the majority of aldermen, the Illinois Gaming Board and wary neighbors.

Aldermen may oppose the idea due to their distaste for the game or concerns about a likely increase in traffic. Lightfoot is likely to argue that tax collection would skyrocket in the future to satisfy their aversion to constantly rising property taxes.

These challenges have been acknowledged by Soo Kim, the president of Bally’s. Soo Kim said the company understands the promises the casino allows Chicago to keep, agreeing to take on all responsibilities in the future. Soo Kim expressed his excitement and said that he understands that this is just the first step and now they have to make their case to the city council.

Lightfoot had shortlisted three finalists in March. These were:-

  • Bally is at the Chicago Tribune Publishing Center
  • Hard Rock at One Central Development on the Near South Side
  • Rivers in the South Loop at 78

Chicago’s casinos have the potential to pull the city out of financial trouble. Moreover, it will pave the way for Lightfoot to a direct political victory in his re-election campaign.

Lightfoot has a successful history where it overhauled the tax structure to make a casino more attractive to potential bidders. A lot heavy hitters were hesitant to submit their bids, but ended up receiving bids from three companies that the city will now consider.