This $445 million casino and entertainment complex to be located on Des Plaines River Road and Devon Avenue in Des Plaines, a suburb of Chicago, broke ground on April 16th and is expected to open in September 2011.
The first phase will consist of a 147,000 square-foot-facility with slot machines, gaming tables, four restaurants and three bars. The project will create hundreds of construction jobs, approximately 1,000 permanent jobs and over $150 million in annual gaming tax revenue that will benefit the State of Illinois and the City of Des Plaines.
Midwest Gaming Holdings LLC, which is building the casino in Des Plaines, has closed on $72 million in financing from Toronto-based investors, Clairvest Group Inc. and Clairvest Equity Partners IV Limited Partnership. Clairvest now has a 40% ownership stake in the casino. Clairvest is partnered with Chicago developer Neil G. Bluhm in the Midwest Gaming casino complex.