Bally's Casino in Chicago Hits Record-Breaking Revenue; Construction Commences on Permanent Resort
The temporary Bally's casino in Chicago based out of the Medinah Temple had a record-breaking gaming month in May.
Recent reports from the Illinois Gaming Control Board (IGCB) show that the Bally's casino at 600 N. Wabash Ave., close to the Magnificent Mile, collected over $11.73 million from players last month. Slot machines accounted for $6.98 million of that sum, while table games brought in $4.75 million.
May's gaming winnings of $11.7 million above all represent the biggest month this casino has had since its opening last September. The 35,000-square-foot gambling space has become quite the hit among locals and tourists alike, and Mark Wong, Vice President and General Manager, believes this is due to its consistent community involvement and commitment to responsible gaming.
Last month, the Bally's Chicago casino saw a notable increase in the numbers of those enrolled in its rewards program. There are now over 90,000 participants.
This casino boasts over 800 slot machines and 56 live dealer table games.
The Future Of Bally's Chicago
The temporary Bally's casino will remain in place as Bally's Corp. works on creating its permanent integrated resort property at the Freedom Center. The Rhode Island-based gaming company is due to take control of this former Chicago Tribune printing plant early in June.
Bally's aims to unveil the downtown Chicago casino and resort in 2026. The development plan includes a 500-room hotel, a 3,000-seat theater, 10 restaurants, and a casino with 4,000 gaming positions. Bally's Chicago will likely be the biggest casino in Illinois upon completion.
Securing the necessary funding for this project has been challenging. Bally's still needs approximately $800 million to fulfill their $1.7 billion commitment. Despite the funding gaps, Wong is confident about moving things forward correctly. "We're on track to open in September 2026," he said.
Recent financial updates for the temporary casino have been encouraging, necessary news for Bally's. However, it has yet to meet earlier estimations. Though May was the casino's best month yet, the income has not reached expectations.
City officials and Bally's initially thought this provisional gaming facility would win $242.7 million from players in 2024, equating to about $20.22 million each month. From January through May, its revenue amounted to $52.36 million, totaling about $10.47 million monthly.
A New Era For The Freedom Center
Wong informed the Chicago Tribune that Bally's would prepare the Freedom Center for demolition after acquiring the property next month. Bally's purchased the property from Tribune Publishing for $150 million.
The Freedom Center opened in 1982 with a $185 million investment. This 659,000-square-foot facility served as a printing hub for various newspapers like the Chicago Tribune, Chicago Sun-Times, and The New York Times' Midwest distribution.
The newspapers' printing operations have since shifted to Paddock Printing Center in Schaumburg, located about 10 miles northwest of O'Hare International Airport.
Tribune officials still maintain three printing presses in the Freedom Center as a contingency measure for any potential production breakdowns at Schaumburg. With successful printing underway at Paddock, they plan on completely shutting down the Freedom Center presses tonight.
