The River West casino and entertainment venue proposed by Bally’s Corporation has been approved by the Chicago City Council. The US$ 1.7 billion project will replace the Chicago Tribune printing factory on the west bank of the Chicago River between W. Chicago Avenue and W. Grand Avenue.
The process has been years in the works, with mayor Lori Lightfoot working to bring a casino into the city as a new revenue stream to fill the gap for underfunded police and fire pensions. Despite years of work and five initial proposals, Bally’s Corporation’s River West project was selected as the winner just three weeks ago.
River West Casino features and amenities
Bally’s Corporation River West casino will include 3,400 slots and 170 table games, but the total idea will go far beyond. The project will include a hotel tower with 500 hotel keys at the northern end of the property. A 3,000-seat theatre, a dining hall with five restaurants, four bars, including a rooftop bar and VIP club, an outdoor park, and an amenities terrace with a big pool and spa, fitness centre, and sun deck will be part of the entertainment complex.
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As part of the arrangement, Bally’s will pay the city $40 million upfront, which will be distributed to the city’s pension funds under the recently enacted agreement. As part of the agreement, Bally’s will pay the city $4 million every year from now on. The business has also allegedly committed $75 million to infrastructure improvements surrounding the casino, such as traffic signal synchronization and road expansion.
The city anticipates a $200 million yearly profit from the casino once it is fully operational. In terms of job creation, Bally’s has reached an agreement with organized labour, promising 60 per cent minority hiring, and will launch a jobs program that will especially target neighbourhoods with the greatest levels of unemployment and lowest income.
