Mayor Lightfoot accepts Bally's proposal to develop a casino on the Chicago River

 Mayor Lightfoot takes Bally's pitch to build a casino along the Chicago River

Lightfoot announced on Thursday plans to present Bally's pitch for Chicago's first casino on the Tribune Printing Press Site along the Chicago River to City Council approval and Illinois Gaming Board approval.


Lightfoot released a statement saying that she was proud to say that Bally's Corporation will build a world-class entertainment area in the city. This will delight both tourists and residents.


The casino, estimated to cost $1.7 billion, will offer 3,400 slot machines and 500 table games. It also has a 500-room hotel, an exhibit hall, outdoor music venue, and six restaurants.


Bally's Corporation was selected from three finalists. These pitches included proposals to build casinos in Soldier Field or along the South Branch. Bally's Corporation estimates that the casino project would create 3,000 jobs in construction and 3,000 jobs in permanent employment.


Lightfoot said that Bally’s offer, which includes $40m in upfront cash, and $4mllion per annum thereafter, was the strongest. Bally's had the best pitch and doesn't currently have a competitor within the Chicago region.


Bally's officials also struck a labor deal, which included a commitment of 60 percent minority hiring and a program to create jobs in low-income areas with high unemployment.


These details were essential in winning support from the mayor.


Lightfoot said that Bally's development at Chicago, Halsted on the Tribune Publishing Center website, "will shore up the City's Pension funds, create thousands good-paying job opportunities, and lead us to a bright financial future."


On Monday, a special committee from the City Council will examine the proposal. Casino Picks

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