The Bally’s Chicago Casino and Resort project is a significant upcoming entertainment development in the city. The project aims to create a comprehensive entertainment destination on a 30-acre site at the former Chicago Tribune printing plant location along the Chicago River. Bally’s Casino & Resort Chicago will be a landmark in the city’s entertainment landscape.
Key Developments:
- Site Plan Approval: On February 21, 2025, Bally’s received official approval from the Chicago Department of Planning and Development for the project’s site plans. The updated design includes a 34-story hotel with 500 rooms. Additionally, it features a 3,000-seat theatre, six restaurants, cafes, a food hall, and a 2-acre public park. There will also be a 2,000-foot extension of the Riverwalk to connect the property to the river’s lower bank. Bally’s Casino & Resort Chicago will transform the area into a vibrant destination.
- Financial Challenges: In January 2025, Bally’s requested a 12-year property tax incentive from the Chicago City Council. This would reduce the property tax rate from 25% to 10%. This measure aims to ensure the project’s financial viability and generate an estimated $200 million in annual revenue for the city. Bally’s Casino & Resort Chicago is expected to contribute significantly to the local economy.
- Temporary Casino Performance: Bally’s opened a temporary casino at the Medinah Temple in September 2023. However, the casino generated lower-than-expected tax revenue, totalling only $63.2 million over 16 months. This is 47% of the projected revenue for 2024.
- Legal Challenges: Bally’s faces a lawsuit concerning its initiative to allocate 25% of the project’s ownership to women and minority investors. Plaintiffs claim this policy violates federal civil rights laws by excluding white male investors.
- Security Concerns: In a regulatory report, Bally’s warned investors that increased crime rates or perceptions of danger in Chicago could negatively impact the casino’s operations. This could affect the financial performance as well.
Despite these challenges, Bally’s continues to advance the permanent casino and resort project. The expected opening of Bally’s Casino & Resort Chicago is in late 2026.
Project Summary:
| Element | Details |
|---|---|
| Location | Former Chicago Tribune printing plant site along the Chicago River |
| Area | 30 acres |
| Project Components | 34-story hotel (500 rooms), 3,000-seat theatre, 6 restaurants and cafes, food hall, 2-acre public park, 2,000-foot Riverwalk extension |
| Estimated Cost | $1.7 billion |
| Expected Opening Date | Late 2026 |
| Construction Partners | Chicago Community Builders Collective (a minority-led construction partnership) |
This project is anticipated to boost the local economy, create new job opportunities, and provide a premier entertainment destination for Chicago residents and visitors alike.
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