Summary
- Suburb approval agreements show the new timeline.
- The casino will offer 73,000 square feet of space.
- Around $529 million will be spent on the project.
Wind Creek Hospitality was set to open its new Chicago Southland Casino late this year or early next year, but now, those plans have been delayed. Redevelopment agreements signed with local suburbs indicate that the property will now open in January 2025. This is a blow to south suburban Illinois as the region will have to wait quite a long time before new revenues will come rolling in.
A Large Project near Interstate 80
The casino will include a hotel and feature a nice spot for locals and visitors to the state to get away for the evening. The casino will include 73,000 square feet of space and offer quality gaming options for guests. Players can enjoy over 1,300 slots and 56 table games. Dining is also included.
The total budget for the project is set at $529 million, which includes the acquisition cost of the land, construction, and licensing fees. Construction began on the casino and hotel last September once approval was provided by the gaming officials in Illinois.
The property will also include an entertainment venue that is 75,000 square feet in size and a hotel with 252 guest rooms. During the construction phase, around 600 jobs are estimated for the region. Once the casino and hotel are fully operational, around 800 people will have permanent employment.
Additional Details on the Project
The highly anticipated casino project is set to benefit local communities in a variety of ways. The revenues from the casino will go to Homewood and East Hazel rest, south suburban communities affected by the casino.
Each village is requested to pass a resolution that seeks a tax break for the casino based on its Class 8 designation. This would reduce the property tax assessment for the casino and help to lower its overall cost.
The proposed budget by Wind Creek for the casino includes tax increment financing reimbursement costs for site improvements and land acquisition. The money would be paid as property tax revenue as the development continues. Payments would be made over a 20-year time frame.
The tax increment financing does not require the community to reimburse the costs from general revenues. Even though the project has been delayed and there are still steps to take to come to completion, local officials and players are excited to see the final product once its completed.
Hopefully, the casino construction phases will remain on time to ensure that the project is finished by this new deadline.
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