Rockford City Council has approved $103 million in bonds to fund Hard Rock Casino Rockford’s hotel and convention center expansion.
The council voted 11-1 on Monday to move forward with the plan. Under the agreement, the City of Rockford would own the expansion until Hard Rock pays off a buyout requirement in seven to 10 years.
Alderman Jaime Salgado (D-11th Ward), an accountant, said he sees potential in the investment.
“It’s commercial…There’s some risk and opportunities there,” Salgado said. “What the return on investment is going to be is the additional gambling revenue that’s going to come out of it and more jobs.”
