A new industry is embarking on Chicago. Casinos are entering. They will change the Chicago landscape. Money will flow. Top named entertainment will be in the city at the venues.
New businesses will be created. New eateries will come. Unique hotels will be built. Chicago has never hosted the business of gambling, and now here we are in 2021, facing a new venture. The tax revenues are projected at $200 million annually.
Hopefully, the new business of casinos will improve the economy, particularly for small businesses, existing and others to be developed. And most importantly, with construction, hospitality, marketing, and the like, there is a real business opportunity for minority-owned businesses — a new paradigm in the making.
December 8, the gaming board decides the casino winners in the South Suburbs.
We favor Wind Creek Hospitality. Owned by the Poarch Band of Creek Indians, it has properties in premiere states to include Alabama, Florida, Nevada, Pennsylvania, and Illinois. Planned to be located right at 175th Street and Halsted, this is the best location for the south suburban applicants. It is in the heart of the Southland.
This community is in need of jobs and opportunities. The destination features a 70,000 square foot casino floor, with over a 1,000 slot machines and 56 table games. There will be an entertainment center that will feature local and named entertainers. It will include a new boutique hotel with three restaurants and a conference banquet facility. Wind Creek will create at least 800 full-time jobs,, and they promise to provide scholarships in a fund of $10,000,000 for scholarships to South Suburban colleges.
Bally’s
There are five bids for Chicago. Hard Rock, Rush Street Gaming, and Rush Proposal.
Bally proposes to come to Chicago in two locations. The McCormick Place truck marshaling yard. The Freedom Center – Chicago Tribune‘s printing plant on North Halsted Street. The Tribune locations represent a boom to the Northside, and the McCormick site will be an economic stimulus to the Southside. Alderman Sophia King, 4th ward, opposes the location.
Bally’s brochure reads like it is ready-made for Chicago. “Bally is known for its local touch. Minority investors will own 25% of the project and include philanthropists, business owners, sports stars, celebrities, everyday Chicagoans from the Black and Latino communities, and other ethnic and gender representation. We take pride in supporting the local communities in which we operate and intend to become part of the fabric of the Chicago community. Our vision is for Bally’s Chicago to serve as an economic engine for the Chicago community, transforming it into an entertainment destination that offers employment opportunities to residents and supports the growth and development of small and emerging businesses.”
Bally is an experienced gamer. The McCormick Project site brings $50 million in upfront payment for education, youth programs, health care. The Tribune Project brings $25 million for community improvements. They guaranteed minority employment, entrepreneurship, and special outreach to disadvantaged communities. They are committed to rebuilding Chicago with workforce development in a partnership with City Colleges of Chicago.
The Project suggests $1 billion for the permanent facility, with 2700 slots, 95 table games, five restaurants, a small 100 room all-suite luxury hotel, outdoor music venue with seating for 100, and outdoor public green space.
If Chicago is to grow, develop, and become the world-class city it is destined to become, new industries and new resources are necessary for the town. Our entertainment sites are lacking and can stand a boost.
I like the casino opportunity because the new business offers a paradigm of a fundamental shift in doing business with minorities. Equity at the table is critical from construction, vendors, employment, job opportunities, and investment.
The city decides which casino comes to the Chicago table early next year. Proposals are presented on December 16. We like Bally’s. Diversity and inclusion matters.
