Wind Creek Chicago Southland Casino Project Gets $290 Million Loan To Support Construction

After an 18-month delay, the Wind Creek casino project appears ready to move forward. In a related development, Wind Creek Hospitality, the company behind the project to be built 20 miles south of Chicago, received a loan that would greatly help finance the construction. The new funding is also expected to finally launch a project in which the groundbreaking ceremony was organized more than a year ago.

Loans:

Scheduled to open in January 2025, the casino will have 73,000 square feet of gaming space under its plan. As soon as it's officially online, it will be a new addition to the ever-growing list of casinos in Illinois.

A $290 million loan to help finance the aforementioned casino project called Wind Creek Chicago Southland Casino will fund companion entertainment and hotel complexes in addition to casinos. It turns out that lending money is a PCI Gaming Authority owned by the developer's owner Poarch Band of the Creek Indians tribe, so the company lends the money to itself.

In addition, the total project cost to build the entire project is $529 million, up from the initial estimate of $440 million. In addition, the aforementioned 73,000-square-foot gaming space will have 56 table games and 1,350 slot machines. As for the hotel, it will have 252 rooms, a restaurant, and many other entertainments. There will also be an event center that will occupy 75,000 square feet.

In addition, full-service spas, attached parking lots, and indoor swimming pools will participate, and they are working on a partnership with the Lavisloe Country Club to add a golf club to the hotel casino.

When commenting on the project, PCI Gaming Commission President and CEO Jay Dorris told Play Illinois, "The new facility will be more than just a casino. Beyond building casinos, Wind Creek Hospitality will truly create a South Suburban community with job creation, community investment and continued operational excellence."

Supporting the community is one plan when hotel casinos open, especially providing jobs to minorities and members of the LBGQT community. But that's not all. This is because the Southland Public Benefit Fund was also created to give $150,000 a year in tuition to students who need the money to continue their studies, and the hotel casino also plans to donate $1 million a year to community services and programs a year after its opening.

Good economic opportunities:

It is expected to earn $155 million in the first year of its opening and more than $200 million a year in the seventh year of its opening, changing the timing of its completion from late 2023 to early 2025.

The location was first selected in 2022 after John and Mark Weglaz, who manage many hotels around Midway Airport and have experience in real estate, bought it for $25 million. However, a recent redevelopment agreement between East Hazel Crest and Homewood delayed the project for 18 months.

In addition, the construction of the hotel casino alone will provide nearly 600 jobs. Upon opening, it will offer nearly 800 permanent jobs. Commenting on the chosen location, state Senator Napoleon B. Harris III said, "The location will make it popular. The easy-to-access location creates a solid foundation for the proposed quality 'four diamond' casinos and entertainment complex; it will maximize revenue and continue to attract major out-of-state visitors from across Indiana's borders."

Alliance with Bulls: 슬롯

The aforementioned hotel casino announced a new partnership with Bulls late last year, a step in the right direction when it comes to connecting with the community. The partnership includes "entertainment branding in the stadium at United Center, where the Bulls play, and other ads through the Bulls' social media channels."

Brett Pinkston, Wind Creek Hospitality COO, commented. "There was no better way to introduce Wind Creek to the Chicago area and Illinois. As a new brand coming to the Chicago land market, we believed it was important to establish our own name and credibility with the local market as soon as possible. Being from this region, I can't imagine a better way to get the job done than to work with the Bulls organization and introduce one of the biggest and most loyal fan bases in professional sports. It allows us to enter the market with a loud voice."

Mark Levitt, the Bulls' vice president of business development, said, "We're excited to work with Wind Creek over the next few seasons to bring fans new in-stadium competitions, social content, and sweepstakes. This new partnership will support continued efforts to further enhance the matchday experience for Bulls fans across United Center and social platforms."