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View Poll Results: Which Chicago casino proposal is your favorite?
Ballys at Tribune 24 18.05%
Ballys at McCormick 7 5.26%
Hard Rock at One Central 7 5.26%
Rivers at The 78 75 56.39%
Rivers at McCormick 20 15.04%
Voters: 133. You may not vote on this poll

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  #261  
Old Posted Dec 6, 2020, 6:20 PM
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^ Don't forget about the Metra Electric line, which runs under McCormick and will have a reduced fare pilot starting January.

If the fare pilot becomes permanent and more service is run, it would be the ideal route to shuttle hundreds of tourists from the Loop and McCormick
Eh, local transit is not the best way to transport a bunch of conventioneers - many of whom will be confused by the long underground passages and the ticket/fare policies of Metra.

Best case is that Metra Electric establishes a fare-free zone between Millennium and McCormick, and builds a highly visible station entrance at Michigan/Randolph as they intended back in the early 2010s.
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  #262  
Old Posted Dec 6, 2020, 7:28 PM
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It makes the most sense as part of this development. It would be the catalyst needed to make this not be a pipedream. https://www.onecentralchicago.com/

Benefits:
- direct access to LSD, reducing traffic impact to local roads
- location is ideal in proximity to McCormick Place and the tourist attractions of the Museum Campus/Soldier Field, not right downtown but close
- direct train access from Millennium Park/the dedicated bus lane to McCormick place could be used for casino shuttles
- large enough site to have the 200-300k sqft single gaming floor that is desired

Drawbacks:
- residents will throw a fit (applicable to any location with residential in proximity)
This thing was a long shot before covid.

No is going build a casino because maybe a decade from now there will be a development over there.
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  #263  
Old Posted Dec 8, 2020, 3:10 AM
Goose Island Guru Goose Island Guru is offline
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One Central makes a lot of sense.

Thompson Center could be a natural fit. Think gambling floor in the lower level where the food court is and hotel rooms higher up looking down like an atrium hotel.

I have no idea how the area of that lower level fits in what an operator would want or need but from a functional standpoint it seems to make a lot of sense.
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  #264  
Old Posted Dec 10, 2020, 3:56 AM
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Originally Posted by Goose Island Guru View Post
One Central makes a lot of sense.

Thompson Center could be a natural fit. Think gambling floor in the lower level where the food court is and hotel rooms higher up looking down like an atrium hotel.

I have no idea how the area of that lower level fits in what an operator would want or need but from a functional standpoint it seems to make a lot of sense.
It would cost more to make Thompson center a viable Casino than it would to just build a new state of the art building. I don't get why so many people still fetishize the concept of reusing a failed building
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  #265  
Old Posted Dec 16, 2020, 4:24 AM
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Because it’s an awesome building.
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  #266  
Old Posted Feb 4, 2021, 1:56 AM
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One Central is a fantasy proposal with huge hurdles to overcome. Why entangle the Casino with the proposal? Even if One central somehow manages to break ground it will be a decade before anything is built. Thompson center, Medina Temple, Lakeside Center in McMk are all ready for conversion NOW!!
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  #267  
Old Posted Feb 9, 2021, 8:19 PM
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Because it’s an awesome building.
If you are referring to the Thompson Center I disagree. The atrium is kind of cool but the building itself sucks both inside and out. Lets build a better building and maybe include another atrium.
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  #268  
Old Posted Feb 10, 2021, 1:09 PM
LouisVanDerWright LouisVanDerWright is offline
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If you are referring to the Thompson Center I disagree. The atrium is kind of cool but the building itself sucks both inside and out. Lets build a better building and maybe include another atrium.
Sounds great, but you do realize that nothing like Thomson Center will be built again and the end result will likely be a B37 clone. Remember B37 technically has a "large public atrium" as well...

That's the problem with giving any ground on preservation, once you have a spectacular building like Thomson Center, the odds of coming up with anything similarly stunning is virtually zero.
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  #269  
Old Posted Feb 10, 2021, 2:19 PM
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Nothing like it being built again is a blessing and you are assuming it will end up like B37. If the city is going to make the next owner preserve that garbage there is no way they are going to be able to sell for anywhere near what they want and what the land is worth. And THAT is why it is toast.
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  #270  
Old Posted Feb 10, 2021, 3:31 PM
OrdoSeclorum OrdoSeclorum is offline
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Nothing like it being built again is a blessing and you are assuming it will end up like B37. If the city is going to make the next owner preserve that garbage there is no way they are going to be able to sell for anywhere near what they want and what the land is worth. And THAT is why it is toast.
My personal feeling is that I don't like the Thompson Center but I also wish for it to be preserved, since it's so unique. My understanding is that it needs $325 million in maintenance. That's fine if it's the Merchandise Mart, but since the interior space is so inefficiently used, I simply don't see any reasonable path to preserve this building.

I suppose if it was landmarked and given some other designations the State could sell it for $1. But this is essentially no different from the State paying to preserve it for $325,000,000. Maybe in a different budget era that would happen, but in almost no circumstance is that a good use of funds. I'd rather see than money spent to preserve hundreds or thousands of less prominent, distributed buildings all over the city.

If we get a tall office tower there, or thousands of residences, an extremely high-intensity use there would benefit the whole Loop and thus the whole city. The worst case scenario is some sort of middling Block 37 type pablum, of course.
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  #271  
Old Posted Feb 10, 2021, 4:54 PM
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^exactly
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  #272  
Old Posted Feb 10, 2021, 10:22 PM
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The real loss here is the Sherman House.
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  #273  
Old Posted Feb 11, 2021, 2:05 AM
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The real loss here is the Sherman House.
I agree that we shouldn't have trashed many buildings in Chicago history, but the Sherman House was already totally neutered by the time it was demolished. It was also faux french second empire bullshit to Begin with. Not anywhere near the scale of a CSX or Garrick or Masonic Temple.
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  #274  
Old Posted Feb 11, 2021, 10:42 PM
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Sounds great, but you do realize that nothing like Thomson Center will be built again and the end result will likely be a B37 clone.
This is worth repeating. Again, and again.
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  #275  
Old Posted Mar 11, 2021, 6:48 PM
VKChaz VKChaz is offline
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Originally Posted by OrdoSeclorum View Post
....

If we get a tall office tower there, or thousands of residences, an extremely high-intensity use there would benefit the whole Loop and thus the whole city. The worst case scenario is some sort of middling Block 37 type pablum, of course.
It could be worse than Block 37. At least that is a public building with a large retail component and reasonably appealing subway/pedway integration on either side. Given things like the experience of getting anything at 37 done, post-pandemic uncertainty and the movement of new offices to the west, am surprised there is so much optimism this block would become something truly special
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  #276  
Old Posted Mar 11, 2021, 7:00 PM
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I don't know how newsworthy this is, but recent report from the city that several Las Vegas based companies have expressed some level of interest in making a proposal. Also some quotes from Lightfoot:

https://lasvegassun.com/news/2021/ma...d-in-proposed/
During an interview Monday, Chicago Mayor Lori Lightfoot said the city envisions a Vegas-style resort, but she did not mention a timeline for the project.

“Las Vegas is the epicenter of all things gaming, really, in the world,” Lightfoot said. “In my view, Las Vegas is the gold standard of casino gaming.”

Lightfoot said a casino would be part of a larger entertainment complex, which would fit with how Las Vegas resort operators have shifted in recent years to focus more on entertainment and experiences for visitors. No area of Chicago has yet been selected for the new casino, she said.

edit: link to Bloomberg article via Crains containing latest report
https://www.chicagobusiness.com/gove...no-bidder-year

Last edited by VKChaz; Mar 11, 2021 at 7:21 PM.
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  #277  
Old Posted Mar 11, 2021, 7:22 PM
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^ Building off of this, another article came out yesterday interviewing Lightfoot about a Chicago casino. The city is putting out an RFP in April and Lightfoot wants an operator chosen by the end of the year. Lightfoot says applicants can list locations of their choosing, instead of being restricted to certain sites. This quote stood out to me:
Quote:
Lightfoot envisions the casino as the anchor for a larger entertainment complex and a destination that draws locals as well as tourists to the nation’s third-most-populous city. The selected casino operator will receive a chance to create a resort with a hotel tower, restaurants and spa.
https://www.chicagobusiness.com/gove...no-bidder-year
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  #278  
Old Posted Mar 11, 2021, 7:33 PM
VKChaz VKChaz is offline
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Originally Posted by Randomguy34 View Post
^ Building off of this, another article came out yesterday interviewing Lightfoot about a Chicago casino. The city is putting out an RFP in April and Lightfoot wants an operator chosen by the end of the year. Lightfoot says applicants can list locations of their choosing, instead of being restricted to certain sites. This quote stood out to me:

https://www.chicagobusiness.com/gove...no-bidder-year
I haven't followed this subject closely so don't know if it is new, but this was the first I heard of a possible 3yr temporary casino location

"Entertainment complex" still leaves open to what degree it is self-contained site vs one that successfully integrates into an urban entertainment community

Last edited by VKChaz; Mar 11, 2021 at 7:50 PM.
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  #279  
Old Posted Mar 11, 2021, 8:06 PM
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Additional info not on Crains



https://www.google.com/search?q=chic...=1615492613724


Las Vegas resort operator interested in proposed Chicago casino

By Bryan Horwath (contact)



Updated Wednesday, March 10, 2021 | 11:38 a.m.





Lightfoot said a casino would be part of a larger entertainment complex, which would fit with how Las Vegas resort operators have shifted in recent years to focus more on entertainment and experiences for visitors. No area of Chicago has yet been selected for the new casino, she said.





Originally, the effective tax rate for an operator would have been over 70%, according to industry analytic firm Union Gaming. Lawmakers reduce the projected effective tax rate top about 40%.

The 40% rate would still be about six times the tax rate on gaming in Nevada.

“You can still make money at that 40% tax rate — the Chicago license is among the best casino-resort development opportunities right now,” said Grant Govertsen, principal of Union Gaming. “We’ll see who submits for the RFP, but it really could be just about anybody. I don’t think Caesars or Penn National would have a lot of interest, though. Penn National already has some exposure to the Chicagoland area with some suburban casinos.”

Govertsen said a new Chicago resort could cut into future visitation patterns for Chicagoland residents to Las Vegas.

With a metro area of more than 9 million people, Chicago is one of the most populated cities in the country. Only New York City and Los Angeles are bigger.




In 2019, Las Vegas welcomed more than 42 million visitors, according to the Las Vegas Convention and Visitors Authority. About 815,000 visitors flew in from Chicago, which ranked behind only Los Angeles and San Francisco.

“At the margin, yes, there could be some lost business for Las Vegas,” Govertsen said. “By and large, though, as casinos have proliferated across the U.S., that’s generally grown the pie more than it has split up the pie. Whether it’s tribal casinos in California or riverboats in the Midwest, Las Vegas has continued to thrive.”
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  #280  
Old Posted Mar 11, 2021, 8:12 PM
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And


https://www.reviewjournal.com/busine...asino-2298767/

Chicago has dreams of opening Las Vegas-inspired casinos




By Richard N. Velotta Las Vegas Review-Journal

March 9, 2021 - 11:02 pm



….

The license holder can own and operate a temporary casino for up to 36 months, and a permanent casino thereafter. That means an operator can begin generating profits before a resort is completed

...

Flying under the radar’

Govertsen said the combination of the coronavirus pandemic and the financial fallout companies endured from it resulted in Chicago’s plan “flying under the radar.” In addition, other high-profile domestic opportunities came to light — gaming in New York City and the prospect of casinos in Texas.

Govertsen now believes the Chicago opportunity may be one of the best available.

“The single Chicago license is among the best casino-resort development opportunities right now,” Govertsen said. “COVID-19 casino shutdowns, financings to bolster balance sheets and industry teams putting development plans on ice resulted in the Chicago casino opportunity largely flying under the radar last year. Now, the combination of available capital and attractive Chicago market metrics make the opportunity prime” for a Las Vegas-style resort.










Appealing attributes



— It’s the third-largest metropolitan area in the country and the largest in the Midwest, with more than 9.5 million residents.

— Chicago is a global gateway and leading hub for domestic and international travel that welcomed 60 million domestic and 1.5 million international visitors in 2019.

— More than 3 million working-age adults live within a 50-minute commute to downtown Chicago.

— The area has a highly diversified economy with more than 400 major corporate headquarters, offices, and facilities.

— It has a vast scale and connectivity that provide an immense market to the planned gaming complex.

— A robust public transit infrastructure is unmatched in the broader Midwest region.

— Chicago has a vibrant and renowned cultural and restaurant scene that paves the way for gaming and broader development in a world-class city.

The city indicated it would release its timeline and deadlines for submissions to the RFP in the coming weeks.
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