Bally’s Corporation has made significant progress on its ambitious Chicago casino project. The demolition of the former Chicago Tribune printing plant has begun, marking a crucial step towards the construction of a new casino complex. Bally’s chairman, Soo Kim, expressed confidence in the project’s potential, highlighting the recent $4.6 billion merger deal as a testament to their optimism. The casino, set to open in 2026, promises to be a major attraction in the Illinois gambling market.
Demolition Begins Amid Optimism
The demolition of the former Chicago Tribune printing plant at 777 W. Chicago Ave. has officially started. This marks the beginning of Bally’s transformation of the site into a state-of-the-art casino complex. Soo Kim, Bally’s chairman, emphasized the significance of this milestone, stating that the project is poised to revolutionize the local gambling scene. The demolition process is expected to take several months, with crews working tirelessly to prepare the site for construction.
Kim’s confidence in the project is bolstered by the recent $4.6 billion merger deal, which he believes underscores the company’s commitment to the Chicago casino. The merger is seen as a strategic move to secure the necessary funding and resources for the project’s successful completion. Despite some skepticism from local officials, Kim remains optimistic about the casino’s potential to attract millions of visitors and generate substantial revenue for the city.
The demolition phase is just the beginning of a multi-year construction process. Bally’s plans to build a 500-room hotel, a 3,000-seat theater, and multiple dining options as part of the casino complex. The project is expected to create thousands of jobs and contribute significantly to the local economy.
Overcoming Challenges and Securing Funding
The Chicago casino project has faced its share of challenges, including concerns about funding and infrastructure. However, Bally’s has made significant strides in addressing these issues. The company recently secured financing to cover an $800 million funding gap, ensuring that the project remains on track. This financial boost has alleviated concerns about the project’s feasibility and demonstrated Bally’s commitment to seeing it through to completion.
One of the major challenges was the redesign of the site plan to avoid damaging existing infrastructure. The original placement of the hotel tower along the Chicago River posed a risk to a city water main, prompting a redesign. The new site plan places the hotel tower on the south end of the 30-acre gaming campus, mitigating potential infrastructure issues.
Bally’s has also faced scrutiny from local officials and residents who question the project’s impact on the community. Despite these challenges, the company has remained steadfast in its vision for the casino. Kim has assured stakeholders that the project will bring significant benefits to Chicago, including job creation, increased tourism, and substantial tax revenue.
Future Prospects and Community Impact
Looking ahead, Bally’s Chicago casino project is set to become a major landmark in the city. The casino is expected to open in the fall of 2026, offering a wide range of amenities and entertainment options. The 500-room hotel will provide luxurious accommodations for visitors, while the 3,000-seat theater will host a variety of performances and events. Additionally, the complex will feature multiple dining options, catering to diverse tastes and preferences.
The project’s impact on the local community is anticipated to be substantial. Bally’s estimates that the casino will create thousands of jobs during the construction phase and even more once it is operational. The influx of visitors is expected to boost local businesses and contribute to the overall economic growth of the area. Moreover, the casino’s tax revenue will provide much-needed funds for public services and infrastructure improvements.
Bally’s commitment to the Chicago project reflects its broader strategy to expand its presence in the competitive gambling market. The company aims to create a unique and attractive destination that will draw visitors from across the region and beyond. With the demolition phase underway and funding secured, Bally’s is well on its way to making this vision a reality.
