Whomever is selected can propose their optimal site for the casino, pending city approval. The city aims for the new casino resort to welcome gamblers by 2025.
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Required elements for the proposals include a casino resort with 500 rooms or less, meeting spaces, restaurants, bars, entertainment venues and more.
The goals of the project include generating tax revenue for the city, generating jobs as well as "offering a high-quality, architecturally significant design."
"After years of planning, we are beyond excited to begin the RFP process for Chicago's first casino," said Chicago Mayor Lori Lightfoot. "We look forward to collaborating with world-class operators to develop a premier entertainment destination that will catalyze growth in our dynamic economy, create sustainable, good-paying jobs for our workforce and bring new financial opportunities to our businesses."
Whomever gets the license will be able to operate a temporary casino for 24 months, subject to a 12 month extension, and then a permanent casino thereafter. The operator will also have the chance to put slot machines at O'Hare and Midway airports.
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All applicants must apply to the state for the owner's license and meet the state's licensing requirements.
Proposals are due by 2 p.m. on August 23. A final applicant is expected to be selected by early 2022.
For more information, visit www.chicago.gov/chicagocasino.