Bally's Submits Bid for Brick and Mortar Casino in Chicago
Published November 3, 2021 by Sol FH
$1.6bn land-based casino could be on the horizon in Chicago, Illinois if Bally’s Corporation bid is approved.
Bally's Corporation is one of the biggest gaming groups on the planet. They are based in Providence, Rhode Island, and operate 14 land-based casinos across 10 states, hold licenses for online sports betting and gaming in 14 US states, and have a horse track in Colorado.
In a move to grow its business even further, Bally's has submitted a proposal that will see the establishment of a brand new, $1.6bn casino resort in the windy city of Chicago.
The plan includes a hotel, casino, and supporting entertainment facilities that would serve as its new flagship site, and operations would also move to Illinois.
The resort is set to be constructed in two phases. The first of which, at $1.0bn, would be earmarked for the casino space with 2,700 slot machines and close to 100 casino table games, alongside a suite-only luxury hotel, dining options, an outdoor music venue, and lush green spaces.
Phase 2
After successfully attaining the expected investment ROI from phase one, the rest of the $600m would be spent on a total of 4,000 gaming positions, a 400-room hotel featuring bars, restaurants, and a rooftop pool, an indoor venue for entertainment, a 20,000sq ft exhibition space and much more.
The bid suggests two sites for the new resort: the Chicago Tribune Publishing Center and the McCormick Place Truck Marshaling Yard. Both are prime spots for a new city highlight.
Bally's reacted to the city of Chicago's April Request for Proposals for the building and operation of an integrated casino resort. Bidders were pre-vetted and there was a limited number able to submit.
Bally's has said that it will build and operate a temporary gaming facility over the construction period of the flagship site.
“Chicago is a dynamic, world-class city, which is why we are committing to make a $1.6bn investment in establishing Bally’s Chicago as our flagship, and the only property in its class in the Chicagoland market,” Bally’s chairman Soo Kim commented.
“This property will be built, owned, and operated by Chicagoans, with a focus on minority and women investors, contractors, suppliers, consultants, and employees. It will generate tax revenue, create good-paying jobs, and attract international, national, and local visitors for generations to come.”
Bally’s director and Chicago native Wanda Wilson added: “From design and build to operations and ownership, Bally’s Chicago is committed to providing meaningful leadership roles, well-paying jobs, and investment opportunities for all Chicagoans.
“I have spent my career in gaming and am proud to be a director and investor in Bally’s. Its commitment to innovation, culture, and diverse ownership makes it a leader in the industry. Everyone knows the Bally name, and that global recognition will attract visitors to Bally’s Chicago.”
