advertisement

Lightfoot picks Bally's to run Chicago casino

Mayor Lori Lightfoot has picked her casino winner. It's Bally's, which will get the right to build and operate the potentially lucrative gambling complex.

Bally's plans a casino on the Chicago Tribune printing plant site along the Chicago River between Chicago and Grand avenues, if the City Council and the Illinois Gaming Board ratify her choice.

In the last week, Bally's upped their upfront payment offer from $25 million to $40 million to help seal the deal. Bally's was the only one of the three finalists to include the payment in their initial offer to the city.

Sources told Crain's Lightfoot sought a hefty payment from each of the operators in final negotiations, potentially as high as $75 million, but the other two bidders did not match the $40 million offered by Bally's.

Get the full report at Crain's Chicago Business.

Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.