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"The City of Chicago received $40 million from Bally's as part of an upfront payment that will go entirely toward the City's annual required pension contribution. This is the first down payment from the casino on the future of Chicago's pensions and a clear indication of the City's commitment to its hardworking public safety professionals. In the years to come, the Chicago Casino is projected to bring hundreds of millions of dollars in revenues to the City, with many of those revenues earmarked for pensions. This builds upon last week's signing of the host community agreement, which codified the casino license between the City and Bally's. Mayor Lightfoot and her team look forward to building upon this success by bringing thousands of good-paying, union jobs and a world-class entertainment district to the River West neighborhood. The Mayor also looks forward to continuing to engage with community through the establishment of a casino community advisory council. Details on that council, including an application, can be found at chicago.gov/chicagocasino."
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