North Point And Full House Make Pitches For Waukegan Casino License
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North Point Casino and Full House Resorts presented their bids for the Waukegan casino license to the Illinois Gaming Board on Wednesday. Rush Street Gaming and Churchill Downs Inc. withdrew their bid for Wurkegen on September 29. The Chicago Bears bought Arlington Park from CDI for $197.2 million. CDi and Rush St. operate Rivers Casino in Des Plaines, 30 miles from Wulkega. Potawatomi Casino is located 55 miles north of Wulakegans.
North Point is bidding for a Waukegan casino license. Warner Gaming CEO Bill Warner is behind the project. North Point's $452 million bid features Charles Smith, Adam Velarde, Pam Netzky and others. The group's minority representation and diversity are highlighted. If approved, North point will operate a temporary casino across the street from the permanent Fountain Square location. It will create 1,000 construction jobs and 1.180 permanent positions. Phase I of the buildout would include an 81,500-square-foot permanent casino with a retail sportsbook, outdoor amphitheater with capacity for at least 5,00 people, and multiple dining options.
Full House Resorts wants to build a $400 million casino in Waukegan. It will be called American Place and will have 1,640 slot machines, 100 table games, a sportsbook, an indoor venue that can hold up to 1.500 people, and a 20-room mansion. Full House is a publicly traded company on the NASDAQ market and member of the Russell Index. It is also a cash flow producer with a revolving credit line of $15 million and real-time liquidity of $270 million.
Full House Resorts CEO Lee claims Rivers doesn't want them to win the Waukegan casino bid. He also takes a swipe at the recently opened Hard Rock Northern Indiana in Gary. The board will vote on the proposal. North Point and Full House are making pitches for Wausau Casino License. The winner will be announced in December. It will compete with Rivers and Milwaukee.
