(WBBM NEWSRADIO) — Chicago is giving bidders more time to submit their proposals for a long-sought casino in the city.
Interested parties will have nearly 10 more weeks to put together their vision for a casino and entertainment venue.
Mayor Lightfoot on Friday announced the new deadline of Oct. 29, saying it will allow the city to collect “as many robust, impactful and transformative proposals as possible.”
“This extension gives potential bidders more time to fully assess the Chicago casino opportunity; conduct additional due diligence; assemble more competitive bid packages; and explore financing opportunities,” a news release from the mayor’s office said.
It’s not clear what the extension will do for the mayor’s earlier intention to announce a finalist next year and open the casino in 2025.
The city of Illinois state government are depending on the project’s revenues to pay for public pensions and construction projects.
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