Bally’s Chairman Soo Kim said the company planned to apply for a casino license with the Illinois Gaming Board (IGB) “before the end of the month.” He added he feels “reasonably confident” the company will receive the board’s approval in time to open a temporary casino at Medinah Temple in June 2023.
Bally’s recently made its promised $40 million upfront payment to the city and the two parties signed a host community agreement. The Chicago city council voted 41-7 last month to approve Bally’s $1.74 billion casino resort at the former Chicago Tribune’s Freedom Center printing plant in River West. The facility is expected to open in 2026, according to Mayor Lori Lightfoot’s office.
Observers said opening a temporary casino in one year could present a challenge. They noted the most recent licensee, Hard Rock Casino Rockford, waited 16 months for preliminary IGB approval and two years to open a temporary casino. However, Bally’s is the last of six new casinos to be licensed by the IGB, so the process may go faster.
Other challenges involve ongoing opposition from area residents, including the 23,000-member River North Residents Association. The organization recently sent a letter to Bally’s, city officials and the gaming board with a list of 42 proposed “adjustments” to the plan, such as
eliminating the proposed pedestrian bridge and replacing a proposed outdoor music venue with a dog-friendly park. The group’s President Brian Israel said, “You can’t reduce negative impacts from a project like this to zero. But we want to reduce them to the extent possible.”
Another concern is Tribune Publishing’s plans to exercise an option to extend its printing plant lease, set to expire in June 2023, for another 10 years. Bally’s has an option to buy the printing plant site from Nexstar Media Group; it would then demolish that building and relocate the Tribune printing operations to clear the way for the permanent casino.
Once opened, Bally’s Chicago casino will offer 3,400 slots and 170 table games. The venue also will feature a 3,000-seat theater; an Immerse Agency exhibition experience; an extension of the Riverwalk; pedestrian bridge; 500-room hotel tower; outdoor park; outdoor music venue; amenity terrace with a large pool spa, fitness center and sun deck; and six restaurants, cafes and a food hall. The project will create more than 3,000 construction jobs and 3,000 permanent jobs, and generate $200 million in annual tax revenue for the city.
