Friday 29 Mar 2024
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KUALA LUMPUR (April 23): Genting Group, which will open Resorts World Las Vegas on June 24, are among companies keen on a Chicago casino resort project, according to a report.

An article in the Las Vegas Review-Journal said no decision was made so far regarding the location of the casino resort set to open in 2025.

However, prospective sites include locations along the Lake Michigan waterfront, near the Soldier Field and near McCormick Place, the largest convention centre in North America.

“The goal is to put it in a location that’s going to take advantage of the infrastructure, transportation, other surrounding amenities as well as put it in a place that’s going to draw tourists,” the report quoted Chicago mayor Lori Lightfoot as saying.

Lightfood expressed hope that casino resort companies based in Las Vegas would consider submitting proposals for consideration for the project. The submission deadline is Aug 23.

According to the report, the city of Chicago will award the project by early next year.

Among the gaming operators that have showed an interest in the request for proposals are Las Vegas-based Boyd Gaming Corp and Las Vegas Sands Corp, Bally’s Corp, Genting Group, Mohegan Gaming & Entertainment, Tilman Fertitta’s Landry’s Inc and Rush Street Gaming.

According to the report, the city will award one casino licence, which not only permits construction of a resort at a location determined by the winning applicant, but also allows the applicant to instal slot machines at the city’s two major airports — O’Hare International and Midway International.

However, the number of slot machines among the two airports and the casino cannot exceed 4,000.

Chicago will also allow the licence holder to operate a temporary casino for up to 24 months, subject to a 12-month extension, to generate revenue before the completed resort’s opening date.

According to Lightfoot, the Chicago casino project is one of the country’s most attractive development opportunities as the metropolitan area has about 9.5 million residents.

Moreover, she expects the eventual gaming operator to be able to incorporate its property into the city’s cultural scene, public transit infrastructure and diversified economy.

At the time of writing today, Genting Bhd’s share price had fallen three sen or 0.61% to RM4.92, giving the group a market capitalisation of RM19.04 billion.

Edited ByLam Jian Wyn
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