Demolition Work Set to Occupy Bally's for Five Months on Chicago's Casino Project
Bally's (NYSE: BALY) has a tough task ahead to prepare the Freedom Center site for their permanent Chicago casino hotel. The regional casino operator currently has five demolition permits being considered by the city, each for a different structure on the property. If the city were to quickly approve these permits, demolition crews would need to work around the clock, 12 hours a day, 7 days a week for 5 months to get the site ready for casino resort construction.
The Freedom Center houses the Chicago Tribune, which is set to vacate the property by the end of July. There's growing uncertainty about Bally’s ability to bring the permanent Chicago gaming venue to life – some experts think it won't happen. However, prompt approval of the permits and demolition is crucial to Bally’s goal of meeting an Illinois-imposed third quarter 2026 deadline for opening the casino hotel.
As of now, no permits have been issued. Marlene Hopkins, Department of Buildings commissioner, told Melody Mercado of Block Club Chicago that issuing the permits could take 30 to 45 days, but it's just an estimate.
Environmental Assessment May Delay Chicago Casino Construction
Environmental assessments, especially in large cities and states, can be lengthy processes, and that could be the case for Bally’s in Chicago as the Freedom Center demolition is deemed "environmentally complex" by the city.
For such demolitions, the Chicago Department of Public Health (CDPH) adopts a detailed process to carefully evaluate the demolition’s potential impacts before any work commences. Once the review is complete, plans are put in place to ensure the environment and public health are protected during the demolition, according to the city.
Extensive environmental scrutiny of Bally’s Freedom Center demolition is expected, and the gaming company will likely go to great lengths to comply with regulators' demands. This includes avoiding the use of explosives, setting a 10 mph speed limit on site excavators, and even manual excavation in certain circumstances. Furthermore, health department staff will be on site daily to monitor dust levels, with the authority to halt work if necessary, according to Block Cub Chicago.
Weather Could be a Wildcard
Even if Bally's manages to overcome its well-documented financial hurdles that could pose challenges to their Chicago plans and even if the aforementioned permits are approved in the near term, the unpredictable Windy City weather could come into play.
For instance, even if Bally’s could initiate Freedom Center demolition in August – an optimistic scenario – the five-month timeline suggests that some work could be postponed due to the city's infamous harsh winters.
As for the casino hotel construction, the average timeline for building large hotels from scratch is several months to a year, but that presumes good weather, streamlined permitting, and no labor problems.
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