Wind Creek Hospitality postponed its Wind Creek casino project for 18 months, and it is 20 miles south of Chicago.
Yet, the company received a $290 million loan that will boost its construction as it had scheduled to launch the gaming project in 2022.
Details About the Loan
The gaming property has 73,000 square feet of gaming space and will start operating in January 2025 to be one of Illinois’ large casinos. The $290 million loan will speed up Wind Creek Chicago Southland Casino’s construction. Also, it will finance a hotel and entertainment complex linked to the casino.
Poarch Band of Creek Indians own PCI Gaming Authority, the company that offered Wind Creek Hospitality the loan, and it will construct the accompanying complex. The gaming operator increased its gaming project’s initial budget from $440 million to $529 million.
It comprises 1,350 slot machines and 56 table games. The hotel will entail numerous entertainment selections, restaurants, and 252 rooms. Besides, the property will have a 75,000-square-foot event center.
Its full-service spa will be linked to an indoor pool area and parking garage. Reports indicate that Wind Creek Hospitality is deliberating a golf club with Ravisloe Country Club.
PCI Gaming Authority’s CEO and President, Jay Dorris, informed Play Illinois that Wind Creek Hospitality will not only build the gaming facility but form a new community in the region. It will create community investment and many jobs.
Dorris added that the property will continue aiding the community and employ LGBQT and minority community members. The Southland Public Benefit Fund offers students $150,000 in tuition annually. The gaming venue will offer $1 million annually in donations to community programs and services one year after operating.
The Casino’s Economic Impact
Wind Creek Chicago Southland Casino is expected to make $155 million in revenue in its first year of operation and increase it to over $200 million annually by the seventh year.
Jon and Mark Weglarz purchased the 24-acre parcel near East Hazel Crest and Homewood for $25 million. It has immense experience in the real estate industry as it operates numerous hotels near Midway Airport.
Homewood and East Hazel Crest redevelopment agreement with Wind Creek stalled the casino’s construction for 18 months. It will create 600 manual jobs and later create more than 700 permanent jobs once it launches.
State Senator Napoleon B. Harris III stated that the property’s location will popularize it as it suites the four-diamond entertainment and casino complex. It will help it attract rich clients and maximize revenue.
The Property’s Agreement With Bulls
Wind Creek Chicago Southland Casino teamed up with Bulls in 2022 to promote its products on the team’s social media channels and use in-arena branding at the United Center. Brett Pinkston, Wind Creek Hospitality’s COO, stated that the deal will help them build credibility and their brand fast in Chicago’s gaming market.