He says the company will borrow almost $300 million for the construction and gaming equipment. A name has not been chosen for the casino, though one should be announced "relatively soon," Carlin tells GlobeSt.com.
The site is master-planned to accommodate two hotel towers, Carlin says, based on if demand and returns hit expectations. Though there are also casinos in the west Chicagoland communities of Elgin and Aurora, Carlin said he's not worried about competition. "There's 3.7 million adults within 20 miles of our site," he says.
This is the 10th casino license allowed by the state, with many of the other properties along the southern Lake Michigan shore. This license had previously been offered to Rosemont, which had planned the Emerald Casino, but the state revoked the license more than four years ago.
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