The state of Illinois has just approved gambling extension all across the region. The city of Waukegan has already started the search process regarding a casino developer. The city has requested proposals from interested parties with detailed explanations of development costs, potential revenues, and ideas about casino locations.
The process is another step forward in Waukegan redevelopment. Mayor of the city, Sam Cunningham, said:
“It will be a very transparent and open process. A lot of eyes are going to be on Waukegan in the coming months, and so how we handle this is going to be critical”.
Details
Waukegan should select a new casino operator or owner in 120 days and appear before the Illinois Gaming Board. The potential casino developer should represent ideas about the casino position, how it will look, number of gaming positions, sports betting plan, the physical layout of the venue including restaurant, hotel, and retail descriptions. Applicants can submit proposals until 3 pm on July 22.
Regarding the location of the new casino, Cunningham pointed out the Fountain Square shopping complex which is close to the highway. However, all options are open and potential developers can make proposals. The Lake County city is ready to help the future developer in acquiring additional parcels around the complex. Also, it will look to select “financially successful development” which will boost sales and tax revenues while providing a “significant number of quality jobs to its residents.”
Proposals
Potential applicants should explain the benefits of the complex to the whole area of Waukegan City, Lake County, North Chicago, and Park City. It is planned that 70% of gross revenues go to Waukegan, 15% to North Chicago, 10% to Park City and 5% to Lake County. The new venue should start with a minimum of 1600 gaming positions and maximum 2000 places.
After July 22, all submitted proposals are to pass the review process by the city team. According to the Mayor, the city expects to receive about 10-12 proposals in total. The further selection will be made by requesting additional documentation, interview meetings and similar. In the final step, the review team will give recommendations to the Waukegan City Council which will announce the ultimate call.
Chicago Situation
The city of Chicago has been looking for casino location for years. At the moment, city officials look for the benefits of a casino location. According to recent statements, casino location could be selected soon, as five possible spots have recently been indicated:
“It could happen fairly quickly. If all goes according to plan, you could see gambling at a temporary site in less than a year.”
Chicago Mayor, Lori Lightfoot mentioned:
“I want the city casino to open as soon as possible. Obviously, we’ll be involved in the process. I’m hoping we can get it done relatively soon, so we can start the process.”
With a Chicago casino opening, gamblers can expect up to 4000 gaming positions which will leave the potential competition far away from the leader.
Source:
“Illinois: Waukegan city kicks off search process for casino developer“, yogonet.com, July 5, 2019.
Cee123
5 years ago
Sr. Newbie
This is very exciting to read. My husband and I take a lot of trips to Illinois to visit friends and family, as we we were both born in this state and have migrated to another state. When we return for events and visits, we often visit the casinos and hearing of another one opening gives us even more anticipation for future...
This is very exciting to read. My husband and I take a lot of trips to Illinois to visit friends and family, as we we were both born in this state and have migrated to another state. When we return for events and visits, we often visit the casinos and hearing of another one opening gives us even more anticipation for future visits. Hope they are successful in finding their casino developer and able to launch this one in Waukegan soon!
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