Editorial says Bally and Chicago should repeat casino approval process
It was announced last week that Bally's will have to build a hotel tower at a new location for its permanent Chicago casino because of municipal water lines beneath the Chicago Tribune Liberty Center.
Relocating a planned 100-room hotel is no easy task. The area's casino operator is expected to move the hotel to another building being constructed on the south end of the property. Still, the water main issue is seen as the latest in a series of missteps surrounding Bally's Chicago plans, with some locals arguing the entire approval process should be "overhauled."
The Chicago Sun-Times editorial board argued in a recent editorial that while the Chicago Planning Commission and City Council had previously approved Barrie’s Freedom Center plan, Mayor Brandon Johnson should step in and force a repeat of the approval process . The newspaper criticized gambling companies and city governments for not recognizing the existence of pipe publishers sooner.
Shame on Barrie and the city for not doing the work months ago to find out what was buried beneath the proposed hotel near Chicago Avenue and the river," the editors wrote.
The $1.7 billion Bally's Chicago is the operator's most expensive project and will be the first casino-hotel in the third-largest U.S. city. The Rhode Island-based gaming company currently operates a pop-up gaming location at Temple Medina in the River North community.
Bally's Chicago is plagued by problems
Currently, Bally’s appears to be relocating its hotel. However, the need to do so has led to many problems for Chicago venture capital.
Former Mayor Lori Lightfoot (D-Chicago) selected Bally's as the winner of a Chicago casino license in May 2022, beating out gaming company Hard Rock International of Florida's Seminole Tribe and Chicago-based Rush Street Gaming.
Since then, controversy has continued. Last month, reports surfaced that multiple investigations, including a federal probe, may be looking into how the city granted the license to Bally's.
"The Sun-Times reported last June that Nomura Securities, the city consultant chosen to evaluate the casino proposal while Lightfoot was mayor, had a financial relationship with Bally's, which ultimately acquired assets from two other established franchises. The company was selected to build the casino. Establish and operate the casino," the newspaper's editorial team wrote.
Bally's Chicago starts slowly
In addition to the above issues, the temporary casino is off to a disappointing start. The venue generated just $3.1 million in revenue for the city from its debut last September through December, well below the $12.8 million the Lightfoot administration had projected.
Bally plans to begin construction on a permanent casino hotel sometime this year. If the approval process is restarted, there may be significant delays.
However, the Sun-Times editorial board believes a fresh start is necessary to ensure taxpayer confidence in the project and ensure there are no further negative surprises.
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Source: www.casino.org
