Bally’s secured the sole casino license in Chicago in May 2022, fending off competition from Rush Street and Hard Rock. However, its route to final approval has not been easy.
The initial designs were rejected over concerns on how they would impact the surrounding area. This was mainly related to nearby city water pipes and potential damage from building work.
However, after Bally’s changed the original design and relocated its planned hotel tower, this was enough to secure approval. On the back of this, Bally’s has now commenced work at the 30-acre downtown site.
Once open, the resort will feature a 500-room hotel, 3,000-seat theater, restaurants, cafes and a food hall. In addition, an on-site casino will house approximately 3,300 slots, 173 table games and VIP gaming areas.
Bally’s has been operating a temporary casino in the city while finalizing its plans for the permanent resort.
“We received final approval from the City of Chicago for our re-imagined permanent Bally’s Chicago Casino master plan in December,” Bally’s President George Papanier said yesterday (March 5). “We recently completed demolition and began construction at the permanent development site.”
Full Year Flat at Bally’s
Papanier was speaking as Bally’s announced Q4 and full-year figures. These revealed mixed results, with Q4 revenue down 5% year-on-year but full-year revenue remaining flat.
Revenue in Q4 topped $580.4 million, the lion’s share of which came from its casino and resort segment. However, the $324.4 million generated was also down 5%.
International interactive revenue was down 9% at $214.5 million despite an 11% jump from the UK market. North American interactive, however, was up 24% to $41.5 million.
For the full year, revenue was flat at $2.45 billion. Casino revenue was also level year-on-year at $1.36 billion. International interactive dropped 6.5% to $909.5 million and North America interactive jumped 58% to $177.8 million.
