Over Mayor Brandon Johnson’s objections, Bally’s is seeking a property tax break for its $1.7 billion River West casino and entertainment complex that could potentially save the gaming giant nearly $300 million over ten years.
Johnson and his Corporation Counsel Mary Richardson-Lowry argued this week that the host agreement with Bally’s does not include the lucrative tax break, and both the city and the company are bound by that agreement.
Ald. Gilbert Villegas (36th), chair of the City Council’s Committee on Economic and Capital Development, strongly disagrees.
He introduced the so-called “Class 7b” tax incentive at Wednesday’s City Council meeting and plans to join organized labor in lobbying for it.
