"According to Chicago’s CFO, Jennie Huang Bennett, the casino is projected to bring in $200 million a year into city coffers when it opens in the first quarter of 2026, with Kim throwing in another $4 million per year. The news Thursday also included an unexpected location for a temporary casino, projected to open in the third quarter of 2023: the Medinah Temple building (recently a Bloomingdale’s home store) at 600 N. Wabash Ave., most likely a surprise to residents living around there."
I think people realize that the gambling enterprises are there to make money, and for that reason alone the odds against coming out a winner over a long span are against you. But, they think of it as entertainment and at least mentally think of it as part of that family budget. I’d just as soon stay away and flush my money down the drain more quickly–or better yet–buy a new car and see how that works out financially in the long run—almost assuredly not all that well either.
Jeff Carter
4 years ago
It will not bring $200MM in. Casinos outside of Vegas always over promise and under deliver. Plus, initial location selection is wrong. This should be put in the southern part of the Loop near train stations, L stops, and expressways. Like near Lou Mitchell’s.
Yeah, my gut is that the casino might be a flop, and it will only serve to cannibalize existing gamblers away from Hammond or Rivers. It’s not really going to be a tourist destination, maybe it will attract some bachelorette parties or something but not it’s not going to be a major tourist destination in an of itself. Rivers is far and away the biggest casino in the state because of the free parking and easy drive. This casino is a difficult location, it will be extremely expensive and ‘luxury’ and I don’t think the gambling market in chicago is… Read more »
Ataraxis
4 years ago
Typical Tribune bloviating. None of the elected buffoons have to fulfill their promises, but a gambling corporation needs to. Got it. The Trib is always indignant on dumb stuff, but for the accountable elected officials, they just can’t get worked up about anything. Nothing to see here, move along…….
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
There’s a sucker born every minute! I never understood the attraction of losing money or gambling on anything you can’t influence the outcome.
I think people realize that the gambling enterprises are there to make money, and for that reason alone the odds against coming out a winner over a long span are against you. But, they think of it as entertainment and at least mentally think of it as part of that family budget. I’d just as soon stay away and flush my money down the drain more quickly–or better yet–buy a new car and see how that works out financially in the long run—almost assuredly not all that well either.
It will not bring $200MM in. Casinos outside of Vegas always over promise and under deliver. Plus, initial location selection is wrong. This should be put in the southern part of the Loop near train stations, L stops, and expressways. Like near Lou Mitchell’s.
Yeah, my gut is that the casino might be a flop, and it will only serve to cannibalize existing gamblers away from Hammond or Rivers. It’s not really going to be a tourist destination, maybe it will attract some bachelorette parties or something but not it’s not going to be a major tourist destination in an of itself. Rivers is far and away the biggest casino in the state because of the free parking and easy drive. This casino is a difficult location, it will be extremely expensive and ‘luxury’ and I don’t think the gambling market in chicago is… Read more »
Typical Tribune bloviating. None of the elected buffoons have to fulfill their promises, but a gambling corporation needs to. Got it. The Trib is always indignant on dumb stuff, but for the accountable elected officials, they just can’t get worked up about anything. Nothing to see here, move along…….
Tribune bloviating, casino on Tribune property, Tribune has some skin in the game