The US city of Chicago is trying to find a company to build its first casino, but prospective operators are concerned that the plans will be too costly to make the project feasible.
City leaders are calling for a megaresort with hotel rooms, meeting space and a surrounding entertainment district, according to a request for proposals issued in April. Chicago is hoping a casino will aid its underfunded pensions, said city officials.
Chicago’s requirements for the megacasino mean a developer could have to spend $1bn or more to accomplish the task. Casino resorts that have opened in Las Vegas and Boston in recent years, albeit on a larger scale than what Chicago has proposed, have cost $4.3bn and $2.6bn.