Bally's has partnered with Chicago labor groups for casino construction. The gambling operator will work closely with the AFL-CIO Building and Construction Trades Department and the Chicago & Cook County Building & Construction Trades Council to build the $1.7 billion Chicago City casino.
Bally's Chairman Soo Kim spoke about the deal, saying that his company reflected the community. He noted the deal demonstrated the company's commitment to ensuring the community played a part in building the casino. By partnering with local labor groups, Bally's believes it is a step closer to keeping its promises to fire and police pensions.
Meanwhile, the Chicago & Cook County Building and Construction Trade President Michael Macelaio also had something good to say about the partnership. He noted that Bally's understood the importance of good-paying jobs and the dignity of employees.
Bally's Secures Labor Deal
Chicago is known for its organized labor. Therefore, for Bally's to partner with a local labor group does not come as a surprise. It might be the only way for the gambling operator to complete its much-awaited project.
Apart from that, Bally's is considering diversifying and including everyone in the project. In fact, it has ensured that both majority and minority groups will contribute to the casino project's success.
The company is committed to inclusivity by partnering with Hire360, Chicago Federation of Labor, and Chicago & Cook County Building and Construction Trade.
Additionally, Bally's will showcase the best of the city by offering food and sports, curated dining, arts and culture, and entertainment experiences in its facility.
Bally's has enlisted Chicago Community Builder's Collective, a minority-group construction company. Apart from that, it has a diverse minority investor group that will own 25 percent of the new casino in Chicago. This illustrates Bally's commitment to diversity.
Building the First Casino in Chicago
Bally's Corporation won the Chicago casino license, according to Mayor Lori Lightfoot. The company was bidding against two other billion-dollar bids from Rivers and Hard Rock. Rivers proposed to build a casino in the South Loop, while Hard Rock proposed to build a facility west of Soldier Field.
The selection committee chose Bally's as it had the best proposal. The casino project is projected to generate around $200 million in annual tax revenue. This amount will go a long way in catering to the city's needs.
The administration hopes the amount will cover fire and police pension costs. This has been taking a toll on the city, and the revenue generated by Bally's will help reduce the steep.
Bally's deal also included paying $40 million. The corporation already paid the money in June.
With the labor deal in place, the next step is transforming the 30-acre Chicago Tribune Publishing Center. It sits between Halstead Street and Chicago Avenue, which is underutilized. Transforming this area with a casino is expected to boost the city's economy.
The upcoming gaming floor will host 170 table games and 3400 slot machines. There will also be a rooftop bar, ten food and beverage venues, a 3000-seat entertainment venue, 500 hotel rooms, and a music venue outside the building. Additionally, there will be an outdoor green venue with a community riverwalk and water taxi stop.
