{"id":15030,"date":"2025-01-30T12:34:50","date_gmt":"2025-01-30T13:34:50","guid":{"rendered":"https:\/\/wifamily.news\/?p=15030"},"modified":"2025-01-30T14:02:48","modified_gmt":"2025-01-30T14:02:48","slug":"will-challenges-chicagos-minority-only-investment-opportunity","status":"publish","type":"post","link":"https:\/\/wifamily.news\/?p=15030","title":{"rendered":"WILL Challenges Chicago\u2019s \u201cMinority Only\u201d Investment Opportunity"},"content":{"rendered":"

This post originally appeared at https:\/\/will-law.org\/will-challenges-chicagos-minority-only-investment-opportunity\/<\/a><\/p>\n

\n
\n
\n
\n
\n

The News: The Wisconsin Institute for Law & Liberty (WILL), representing the American Alliance for Equal Rights (AAER), filed a new lawsuit against the City of Chicago, the Illinois Gaming Board, and Bally\u2019s Chicago Casino for an investment offering open only for \u201cpeople of color\u201d and \u201cwomen.\u201d\u00a0<\/p>\n

The Quotes:\u00a0WILL Deputy Counsel, Dan Lennington, stated, \u201cWith the Trump Administration\u2019s new direction on racial equality at the federal level, the focus will now shift to states, local governments, and private companies that persist in unlawful discrimination. We will not stop until DEI, affirmative action, and other forms of racial discrimination are eliminated everywhere.\u201d\u00a0<\/p>\n

WILL Associate Counsel, Skylar Croy, added, \u201cBally\u2019s Casino should put this illegal investment on hold immediately. Withholding investment opportunities based on race is reckless and threatens the entire development. We are seeking a simple solution: the same investment should be open to all, regardless of race.\u201d\u00a0<\/p>\n

Additional Background: The City of Chicago will soon have a new casino: Bally\u2019s Chicago. To be built on a 30-acre site, this development will include a 3,000-seat theater, six restaurants, a food hall, approximately 3,000 slot machines, 173 table games, and VIP gaming areas. Other features of the development include a 500-room hotel tower with a large pool spa, a fitness center, a sun deck, and a rooftop restaurant. The development cost will likely be more than $1.7 billion.\u00a0\u00a0\u00a0<\/p>\n

Bally\u2019s Chicago, Inc., a new corporate entity, has advertised an initial public offering to raise $250 million, but the investment opportunity is only open to \u201cminorities,\u201d identified elsewhere as \u201cpeople of color\u201d and \u201cwomen.\u201d These investors will own 25% of the financial interest of the casino development.\u00a0\u00a0<\/p>\n

This race-based stock offering is illegal. AAER is seeking damages and an order opening up this investment opportunity to everyone, regardless of race.\u00a0\u00a0<\/p>\n

Our Client: AAER is run by Edward Blum, and is a sister organization to Students for Fair Admission, the group responsible for the landmark decision ending affirmative action in higher education. Two AAER members are also plaintiffs.\u00a0\u00a0<\/p>\n

Read more:<\/p>\n