The official numbers are in for Bally’s temporary Chicago casino, which opened at the historic Medinah Temple on September 9, indicating the bloom may be off the River North rose.
According to the Illinois Gaming Board (IGB), Bally’s adjusted gross revenue averaged $278,268 through the end of September, compared to $245,446 per day in October. The facility took in more than $7.6 million in October, a 12 percent decline compared to September, ranking it fourth among statewide casinos. However, many other Illinois casinos offer at least twice as many gaming positions as Bally’s, which offerrs 800 slots and 56 table games.
Since it opened, Bally’s has generated about $1.5 million in tax revenue, directing nearly $768,000 to the city. But observers noted that’s far from the $12.8 million revenue target for 2023 set by former Mayor Lorie Lightfoot for Chicago’s underfunded police and firefighter pensions.
And although Bally’s was the second-biggest draw for Illinois gamblers among the state’s gaming destinations, admissions dropped 20 percent from a daily average of 3,347 visitors from September 9 through September 30 compared to more than 83,000 admissions or an average of 2,681 daily visits in October.
Regarding the October revenue data, Mayor Brandon Johnson said, “Bally’s has to continue to do its part to market, and to encourage, and to deliver. I’m doing my part.” In a recent quarterly earnings call, Bally’s Chief Executive Officer Robeson Reeves said his company’s Chicago operation is “beginning to build momentum” as they “expand our marketing initiatives.” Bally’s President George Papanier noted the casino soon will operate 24/7 instead of closing from 4 a.m. to 8 a.m. He said, “Our business is ramping. It’s showing week-over-week growth, and our space has gone from zero to 27,000 customers in under two months. And, you know, they’ve not been marketed to at this point.”
Groundbreaking for Bally’s permanent Chicago casino at 777 W. Chicago Avenue is expected next summer. The temporary casino is expected to be open through September 2026.
