Construction of Bally's Chicago Casino resumes after a two-week halt
turbulence surrounded D&P Construction, the firm overseeing the development of the $1.7 billion Bally's casino in Chicago, as allegations of organized crime ties emerged. Despite the ongoing investigation, Bally's temporary casino continues to generate revenue, ranking fifth among Illinois' 16 full-service casinos in April, with $11 million in adjusted gross receipts.
The temporary casino, situated within the Medinah Temple in River North, has been operational since September 2023. Its performance, however, has been marred by challenges, such as financial distress due to construction issues for the permanent facility and a credit downgrade from Fitch, which cited increasing debt and revenue shortfalls at the temporary site.
Despite these hurdles, the permanent Bally's Chicago casino is anticipated to open in late 2026, complete with a hotel, entertainment venues, and a plethora of gaming and dining options. The company is currently cooperating with ongoing investigations and has enhanced its vendor vetting processes in response.
Grant Mitchell, a Virginia Tech graduate, former NCAA track and field athlete, and experienced sports betting industry journalist, provides in-depth coverage of headlines in the sports betting industry. He has earned a reputable standing, working with Forbes and VSiN and contributing to various news outlets. When not engrossed in work, Mitchell enjoys exercising, urban strolls, and catchiing the day's big game.
Based on recent reports, Bally's retains its license and operates its temporary casino, despite regulatory setbacks and vendor disclosure issues. The company's revenue performance may not lead the pack, but it remains a significant player in the competitive Illinois casino market.
- The sports betting industry, where Grant Mitchell specializes, witnessed the temporary Bally's casino in Chicago generate $11 million in adjusted gross receipts in April, placing it fifth among Illinois' full-service casinos.
- In the heart of Las Vegas-inspired casino culture, the permanent Bally's Chicago casino, slated to open in late 2026, will offer a vast array of casino-games such as blackjack, slot machines, and progressive jackpot games.
- The online casino industry is keenly observing the progress of Bally's Chicago casino, with its anticipated hotel, entertainment venues, and diverse gaming and dining options, hoping to glean insights for their own ventures.
- Despite the ongoing investigation into D&P Construction's organized crime ties and the temporary casino's financial struggles, Bally's is determined to uphold the highest standards in its casino-and-gambling operations, as demonstrated by their strengthened vendor vetting processes.
- In the world of finance, Bally's remains a resilient player in the casino industry, generating revenue amidst setbacks, illustrating the company's commitment to maintaining a significant presence in the competitive Chicago casino market.
- The city of Chicago, with Bally's temporary casino generating revenue within its borders, falls into the broader landscape of casino culture, exemplified by the vibrant gambling scene of Las Vegas, where fortunes are won on slot machines and blackjack tables.
