All three developers jockeying for a Chicago casino trotted out their proposals Thursday “replete with soaring promises of economic jolts, job creation and jackpots for the city’s future casino tax revenue coffers, which are earmarked for its depleted police and firefighter pension funds.” Mayor Lori Lightfoot (D) tried to wax cautious about the glowing promises, which included “an Eiffel Tower for Chicago” but hype was the order of the day-long session. Said Lightfoot afterward, “They look beautiful and they’re saying a lot of things that really, I think, speak to our values, but as you all know, the devil’s in the details and my financial team is going to do a deep scrub to make sure that we understand: Are these projects really viable?”
In an ill-concealed dig at Bally’s Corp. (an acquirer rather than a developer), Neil Bluhm jabbed, “Chicago needs an experienced developer with a steady hand. This is not the time or project for on-the-job training.” The Windy City needs “an experienced team who has done developments like this—exactly like this—before.” Bally’s execs didn’t let that pass. “Yes, we have built casinos from the ground up,” replied Bally’s Chairman Soo Kim testily. Alluding to Rivers Casino Des Plaines, they said they (unlike Bluhm) were free of conflicts of interest in the market. Regardless of which of its two proposals is chosen, Bally’s promised 2,000 permanent jobs and 7,500 construction ones. However, its South Side pitch ran into immediate opposition from Alderwoman Sophia King. Kim promised to be tractable to King’s concerns.
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