Chicago Construction News staff writer
Bally’s Corp. says construction of its permanent Chicago casino is continuing and the $1.7-billion project remains on track to open in early 2027, despite changes to the phasing of some non-gaming elements.
Bally’s Chairman Soo Kim and Wanda Wilson, chair of the Bally’s Chicago board, provided the update during an eight-minute conference call Monday. Kim said the call was intended to reaffirm the company’s commitment to the project and address reports that construction had stopped or slowed.
Kim confirmed the casino remains on schedule to open early next year.
“There have been inaccurate reports suggesting that construction has been stopped or paused,” Kim said. “Construction continues every day, and there are approximately 1,000 skilled tradespeople working on the construction of the permanent Bally’s Chicago resort.”
The update follows Bally’s decision in August to reassess the timing of some non-gaming components of the project after Chicago legalized video gaming terminals (VGTs).
Bally’s told the city in July that the legalization of VGTs was “a violation of the terms and economic undertakings of the host community agreement we signed with the city of Chicago.”
The company subsequently notified its contractor that it was reevaluating the phasing of some non-gaming elements of the development.
“Bally’s took these actions because our responsibility is clear,” Kim said. “We are acting to protect our investors … to preserve the value of Bally’s Chicago and to ensure the commitments that underpin this investment and our agreement with the City of Chicago are honored.”
“We remain fully committed to Chicago,” he said.
The permanent casino is under construction at 560 W. Grand Ave. on the former Chicago Tribune Freedom Center site. Bally’s placed the final structural beam on the casino and hotel complex in April.
The latest update follows a Sept. 9 Chicago City Council License Committee hearing, where Bally’s executives provided more details about the changes to the project.
George Papanier, Bally’s president and interim chief financial officer, told the committee the company plans to deliver the event centre, 100 hotel rooms and the required food and beverage components when the resort opens in early 2027. The hotel is ultimately planned to have 500 rooms.
Bally’s is reevaluating about 12 per cent of the project’s other planned amenities because of the potential impact of VGTs on casino revenues. The elements under review include additional hotel rooms and other entertainment and hospitality components.
The company has said it is changing the sequencing of some elements rather than stopping construction.
Bally’s also plans to arrange construction-site tours for investors and shareholders so they can see the progress of the permanent casino.
The project was initially scheduled to open in 2026 but was subsequently pushed to spring 2027. Bally’s reiterated the early 2027 opening target during Monday’s call.
Construction is continuing on the core components of the resort while Bally’s reassesses the timing of portions of the development outside the casino and other elements required for the initial opening.
