Chicago Mayor Extends Casino Bids Deadline to October
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Chicago Mayor extends the deadline for bidders to submit their proposals for the downtown integrated-resort casino to October 29. The winning bidder gets a free hand to offer its vision for its location and facilities. The proposed IRC in downtown Chicago combines restaurants, bars, entertainment and convention space with a casino and a 500-room hotel.
Major operators pass on casino opportunity in Chicago. Caesars CEO Tom Reeg said he has no interest in the project. MGM Resorts' chief financial officer Jonathan Halkyard said his company is not interested in bidding for the potential Chicago IRC.
Chicago Mayor extends Casino Bids Deadline to October. Illinois Senate and House approved Senate Bill 516 in May 2020. It reduced the expected state tax revenue for a Chicago casino to $500m per year.
Illinois Governor J.B. Pritzker signed the bill into law on June 30. He took to Twitter to talk about the potential "hundreds of millions of dollars" a casino would bring to the city's coffers.
