Posted on: October 9, 2024, 03:27h.
Last updated on: October 9, 2024, 03:27h.
Construction on a $405 million casino resort in Wisconsin’s Beloit will start later this month.
One of six federally recognized tribes in the Badger State, the Ho-Chunk Nation says it will break ground on Ho-Chunk Gaming Beloit on Oct. 25.
We are thrilled that this project is getting across the finish line,” said Beloit City Manager Jerry Gabrielatos. “This development will be a game-changer for the City of Beloit. The casino, hotel, and convention center will galvanize more investment in Beloit.”
The project includes an 18-story hotel with 312 keys and a casino floor equipped with 1,500 slot machines and 44 live dealer table games. Resort amenities are to include four restaurants, three bars, a spa, and 76,000 square feet of meeting space.
Ho-Chunk Gaming Beloit is slated to open in early 2026.
Tribal Expansion
The Ho-Chunk Nation’s casino ambitions in Beloit have been many years in the making. The sovereign community has long claimed historical ties to Rock County but it was only in 2020 when the U.S. Interior Department’s Bureau of Indian Affairs agreed to take the tribe’s 73 acres located there along Interstate 90 at Colley and Willowbrook roads into the federal trust.
The land-into-trust execution cleared the way for the Ho-Chunk Nation to petition the state to expand its Class III gaming compact to Beloit. The Beloit property will become the tribe’s seventh tribal casino in Wisconsin with current operations in Black River Falls, Madison, Nekoosa, Tomah, Wisconsin Dells, and Wittenberg.
Wisconsin Gov. Tony Evers (D) has agreed to expand the state’s revenue-sharing agreement with the tribe that requires Ho-Chunk casinos to direct 5% of their annual gross gaming revenue to the state. The tax responsibility increases to 5.5% if the tribe’s total casino win is upwards of $350 million in a given year.
The Class III terms additionally require Ho-Chunk casinos to share an additional 2% of the casino fortune with the local governments where they operate. For the Beloit operation, the City of Beloit will take 70% of the 2%, with Rock County allocated the remaining 30%.
Competitor Starts Strong
Beloit straddles the Wisconsin-Illinois border and is just 20 air miles north of Rockford, IL., where Hard Rock International recently opened a casino. Hard Rock Rockford, a $300 million venture, opened on Aug. 29.
During the casino’s first full month in operation, Hard Rock said over 157,000 people visited the 175,000-square-foot facility. Along with the 65,000-square-foot casino, Hard Rock Rockford features six restaurants, a retail Rock Shop, and Hard Rock Live, a 23,000-square-foot multi-use concert and events venue.
According to numbers supplied by the Illinois Gaming Board, Hard Rock Rockford’s 1,300 slots and 50 tables won over $13.7 million in September to place second in the state. Only Rivers Casino Des Plaines won more money from gamblers at $41.5 million.
Our first full month of operations was very successful,” said Hard Rock Rockford President Geno Iafrate. “We had no expectations of jumping over Rivers — that’s a pretty tall order — but we fully expected to move into second place.”
Bally’s temporary casino in downtown Chicago was third at $10.3 million.
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Casino.org News 2024-10-09 20:30:06
