As Bally’s scrambles to assemble financing to begin work on its proposed $1.74 billion permanent Chicago hotel and casino, Full House Resorts awaits an Illinois Supreme Court Decision to begin building its American Place resort and casino in Waukegan.
Both companies have received permission from the Illinois Gaming Board to operate their temporary casinos longer than two years from the time they originally opened.
Around the same time, Full House received a positive recommendation from the Waukegan Planning and Zoning Commission to the City Council on its site plan and variance request for the permanent facility, it was forced to put its plans on hold.
A lawsuit against the City of Waukegan and the Illinois Gaming Board by Forest County Potawatomi Community to halt the board’s proceedings to grant the Waukegan license was dismissed in 2021, just before the license was awarded to Full House.
After the Illinois First District Appellate Court reversed the dismissal in August, Full House paused plans to start work on the permanent facility. Alex Stolyar, Full House’s senior vice president and chief development officer, said Wednesday a wait is necessary.
“We’re delayed because of a third-party lawsuit,” Stolyar said. “We can’t proceed while there is pending litigation over the license.”
Stewart Weiss, an attorney with Waukegan corporation counsel Elrod Friedman, said in a text Thursday the city’s brief will be filed with the Illinois Supreme Court by Wednesday, April 3. He anticipates oral arguments this fall and a decision by the end of the year.
Full House and people affiliated with the tourism and business community in Lake County currently believe a luxury resort and casino has the potential to draw customers from the Chicago area and beyond as well as provide jobs for people in the area.
Bally’s hopes to break ground this summer on its 500-room hotel and casino with 4,000 gaming positions, an exhibition hall, and a 3,000-seat theater. An opening is planned for 2026.
In early March, Bally’s CFO Marcus Glover told the Nevada Gaming Control Board the company must bridge an $800 million funding gap to cover the remaining $1.1 billion in costs for the Chicago operation.
American Place President and CEO Daniel R. Lee said in a March 5 news release he anticipates opening the permanent facility in 2027. The lawsuit lacks merit. Construction will take around two years. He did not express concerns over financing.
When done, Stolyar said the permanent American Place will have a five-star 20-suit hotel, 1,640 slot machines, 100 table games, a 1,500-seat entertainment venue, and a heliport with easy access to Waukegan National Airport. It is not exclusively for high-stakes gamblers.
“We plan to draw customers from around Lake County and the entire (Chicago) area. This is not just for the high rollers. We’re developing it for everybody,” Stolyar said. “There’s room for everybody,” he added referring to potential competition from Bally’s.
Adding a high-end resort to northeast Lake County will be one more attraction to draw tourists from around the Midwest and beyond. Maureen Riedy, the president of Visit Lake County, said Six Flags already brings visitors and American Place can do the same.
“It will add another attraction to our collection in Lake County,” Riedy said. “The temporary has already been impressive. Their people have been involved in the community working with other stakeholders.
Kevin Considine, the president and CEO of Lake County Partners, said like Six Flags, when American Place is finished and open it has the potential to draw people from all over.
“It has the opportunity to become a real attraction and not just for gambling but for events at the venue,” Considine said.
Since the Temporary at American Place opened in February of last year, Waukegan interim Finance Manager Don Schultz said the city received approximately $3.9 million in revenue. It was very close to the projection of an independent consultant.
Chicago Tribune reporter Robert Channick contributed to this story.
