Casino Movement
The people betting it wouldn't get approved turned out to be wrong....two decades and more later.
Now the people who bet it wouldn't get built might be feeling a bit nervous:
As excavators make way for Chicago’s future mega-casino, the leader of the corporation behind the River West development believes Bally’s is poised to start “eating a lot of people’s lunches” in an Illinois gambling market already saturated with numerous casinos and video gaming options.
Bally’s chairman Soo Kim made that confident declaration after a whirlwind summer for Bally’s was capped Tuesday with crews beginning demolition of the former Chicago Tribune printing plant at 777 W. Chicago Ave. The site is slated to be transformed into a casino by September 2026.
Kim brushed aside critics — including some from City Hall — who have questioned whether Rhode Island-based Bally’s could complete the $1.34 billion casino project, let alone compete in a region that already has more places to gamble than Las Vegas.
About all that will be left are the people who said it would never open at this location.
And others (like us) who think it will never make a dime nor contribute to the Pension Funds as promised. The "creative accounting" types will negate any positive revenue streams and taxpayers will be on the hook once again.
Labels: money questions
posted by SCC at 12:07 AM
14 Comments:
In a decade it will be known as the "Rat-hole on the River".
Rolling, rolling, rollin'
Keep them fat envelopes rollin...
Rawhide!
Remember when the sale of lottery tickets was supposed to fund public schools? I do.
Soo Kim, what else do you have to say? Now, kees me you fool!!!!
Don’t count anything yet? Remember the Bears buying up Arlington Park race track? Tearing it down to build a new stadium and now it sits as empty ground? For us working around the Temporary Casino, I can tell you there is not the expected large groups of gamblers? When it opened there was plenty of looking at this but it has dropped off due to location and lack of parking?
The major reason for no gamblers is the security? There is none outside of the door? Just walking into this site is an eye opener to the Seniors that show up there! Followed by the walk away from the site with all the hungry eyes watching you leave? If they cannot attract customers to lose money now? How are they going to do it with a bigger facility? Go as Des Plaines how the drop in customers has effected the Casino there? The even enlarged it to bring in concert shows! And that is failing in numbers at the tables and machines?
oh boy, i cant wait to never go there
The Casino will make a lot of money, just go out to Rosemont any night. The real question is why did it take 40 years for the City of Chicago to get one. Who owned the original casinos and what politicians did they own. Any real reporter would be all over this question.
The ONlY Casio in the country that charges for parking and it’s a lot! Some folks only have a few dollars to gamble so either pay for parking(up to 100) and leave or spend the 100 plus an additional 200 then leave and hopefully you’re not robbed or carjacked. Have fun people and keep voting the same.
One good thing about real casinos in general, is that they count every 1000th of a cent, both paid and taken in. So there's really no way, aside from contracts to family, and of course the highest gaming tax rate in the country, that Illinois politicians can skim the take.
Las Vegas opened a new casino about 2years ago. It is Adults Only, and everyone entering must show a photo id verifying their age. Security Officers are at all doors and patrol the adjacent parking lot. Circe has a remarkable Sports Book and enjoyable restaurants. It is everything Medina is not. Wake up Ballys.
Gamble your way out of debt works every time just head to a GA meeting
The new Hard Rock casino opened today in Rockford, Illinois. It’s quite an impressive looking place. Headliner events scheduled all week. Easy access from I39/90 and located where the Clock Tower Inn once was. I think it’s going to do very well and drain a lot of business from Elgin and Madison, Wi. A 70ft tall lighted guitar replica of Rick Nielson’s from Cheap Trick is at the main entrance and really looks good. Meanwhile at the not so easily accessible Bally site work begins.
A better question is why are gambling machines not allowed in venues across the city?? Who is responsible (read - "cashing in") for this missed opportunity to rake in tons of dough? Think about it ....
It's only a matter of time before the City begins paying us with green chips and buffet vouchers.
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