Bally’s Submits New Casino Plans To Chicago City Agencies
· 2024-01-31

Bally’s Submits New Casino Plans To Chicago City Agencies

Bally’s has submitted updated plans to various Chicago government agencies for its $1.7 billion downtown casino, with its proposed 500-foot hotel tower likely to be built on a different part of the 30-acre parcel.

The gaming company was forced into a redesign after it was that determined driving the caissons into the ground that would allow construction work to be carried out underwater could potentially damage municipal pipes. The 500-foot tower, which would have 400 hotel rooms, is part of the second phase of construction at the River West venue, which also features a 3,000-seat theater and 65,000-square-foot convention center.

The plans submitted to Chicago’s Department of Buildings shows a potential area for the hotel tower to be built on the northwest part of the parcel near the intersection of West Chicago Avenue and North Halsted Street. That would be just west of the casino and separated from that building by an open-air park. The 100-room hotel that is part of the first phase of construction is connected to the casino building and facing the riverwalk.

 

 

 

 

2026 still goal for permanent casino opening

Bally’s still expects to open the doors to its permanent casino by September 2026. The Illinois Gaming Board granted Bally’s a 12-month extension in October to extend the timeline to that 2026 date.

State law requires a casino licensee to open a permanent venue within two years of launching business at a temporary casino, but a licensee can request a 12-month extension the state agency can grant with “good cause.”

Bally’s opened its temporary casino at Medinah Temple in nearby River North last September and has generated $30.4 million in adjusted gross revenue since opening, resulting in $3.9 million in state tax revenue and an additional $3.1 million in tax revenue for the city of Chicago over the final three-plus months of 2023. The 99,832 admissions in December ranked second among the state’s 15 casinos in operation, while the $8.5 million in adjusted gross revenue ranked fourth.

Bally’s was No. 2 in table games revenue in Illinois in December with nearly $3.6 million, accounting for more than 40% of its total winnings.

In-story images courtesy Bally’s Casino; lead photo: Getty Images

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