Churchill Downs removes bid for Waukegan Casino after announcing sale of Arlington International Racecourse

Churchill Downs removes bid for Waukegan Casino following announcing sale of Arlington International Racecourse

Churchill Downs is apparently no longer interested in operating a casino in Waukegan. The business withdrew its bid for licensing just a few hrs after it was announced that its Arlington residence would go to the Chicago Bears. The NFL team has agreed to purchase the Arlington Worldwide Racecourse for just over $197 million.

The deal assures that a rival casino developer will not be capable to supply services close to its Rivers Casino facility in Des Plaines, Illinois. It was a intelligent move by Churchill Downs to sell to the Bears and now the determination has triggered rumors to circulate that the organization might be eyeing the Chicago area for casino gaming.

Leaving Waukegan

On Wednesday afternoon, officials of Churchill Downs advised gambling regulators in Illinois that the organization was getting rid of its application for casino licensing in Waukegan. The application was submitted nearly two many years in the past in conjunction with Rush Street Gaming. The decision has several speculating that the goal now is to propose a venue in Chicago, however, this has not been confirmed.

Dennis Culloton, a spokesman for Rush Street Gaming, said that it was just a coincidence that the organization withdrew its application on the very same day that Churchill Downs announced the Bears were taking above Arlington.

The application was filed when gambling growth programs have been accredited in the state, incorporating 6 new casinos in the mix.

Chicago’s Push

The city of Chicago is hopeful that a plan will be proposed to carry a high quality casino destination to the city. Chicago Mayor Lori Lightfoot has not been shy about what she would like to see and lately extended the deadline for applications with regards to the new casino.

Applications have been due at the finish of August, but there has been little curiosity by businesses to vie for licensing. The mayor has now pushed the deadline to October 29. It looks the city’s specifications could be trying to keep operators for applying for licensing.

Chicago desires to see an investment of $1 billion from the license holder with a 500-guest room, 5-Star hotel created along with a big gaming floor. Analysts really feel that there is small prospective to increase conventional gaming in the area and it would be a massive risk for an operator to commit so much on a casino resort in Chicago.

For now, it will be intriguing to see if Churchill Downs or Rush Street Gaming throws a hat in the ring for potential licensing in Chicago. It could be that the stakes are also large and officials in Chicago will have to decrease their expectations before any proposals commence rolling in.