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Bally’s has installed the final structural beam at its permanent Chicago casino site, keeping the $1.7 billion riverfront project on track for an early 2027 opening.
The 30-acre development is rising at the former Chicago Tribune Freedom Center site after earlier delays pushed the original 2025 target far back.
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Bally’s Corp chairman Soo Kim said the final beam ceremony gave the project a different feel after months of setbacks. He said:
“It’s like the end of the beginning. To get here, we just had a lot of random delays. Now it just feels real good.”
The permanent casino is expected to create about 3,000 permanent jobs. Plans also include a 3,000-seat entertainment venue and several food and beverage outlets, giving Chicago a large casino resort along the riverfront.
Mayor Brandon Johnson tied the project to city finances. He said:
“The casino, the hotel, entertainment venue, and restaurants are anticipated to generate more than $100 million in new revenue every year, which is going to make me and [Ald. Walter Redmond Burnett’s] job a little bit easier to pass budgets that are equitably maintained.”
However, Bally’s still needs help in Springfield. Under current Illinois law, the company must close its temporary Medinah Temple casino in early September, three years after opening. A pending bill could give Bally’s up to one more year at the site if lawmakers approve it before the end of May.
Kim said:
“We’re not concerned. I think everyone knows it makes sense to do, so we’re confident that we’ll have good outcomes in Springfield.”
The temporary casino has produced $311.6 million in revenue so far, with $46.9 million paid in state taxes and $38.2 million sent to the city. Still, the totals have missed early expectations.
Construction has also faced problems beyond timing. Bally’s had to redesign parts of the project to protect water mains, secure $940 million in financing, and deal with a two-week work stoppage tied to a subcontractor using a waste hauler with alleged mob links.
Competition may grow too. Chicago has opened the door to video gambling terminals in bars and other venues, and at least 231 establishments have applied for licenses.
Kim added:
“A thousand people working on-site — I can’t believe how fast we’re building now. So we feel good that we’ll be open early next year.
“This is a game changer. There’s nothing like this in the Chicagoland area. There’s nothing like this for a long ways.”