Bally’s Chicago Leads the Charge in Local Tax Contributions
February marked a significant uptick in Chicago’s casino scene, with Bally’s Chicago at the forefront of this financial renaissance. The establishment reported a 6.5% increase in revenue, reaching nearly $9.9 million in adjusted gross receipts. This surge not only signifies a prosperous period for the casino but also translates into a substantial boost in local tax revenue, crossing the $1 million threshold for the first time.
Visitor Volume Hits New Heights
The allure of Bally’s Chicago is undeniable, as evidenced by the nearly 20% rise in admissions. With approximately 106,000 visitors gracing its floors, the casino has become a beacon of entertainment and gaming in the region, second only to Rivers Casino Des Plaines in terms of visitor count.
Statewide Success Story
The good fortune wasn’t confined to Bally’s Chicago alone. Statewide, casinos experienced a 16% revenue jump, amassing $137.7 million in adjusted gross receipts. The collective efforts of these establishments have resulted in over 1 million casino visits, a testament to the thriving gambling industry in Illinois.
A Vision for Chicago’s Gaming Future
Bally’s Chicago isn’t just resting on its laurels. The casino is part of a grander vision for Chicago’s entertainment landscape. A $1.74 billion entertainment complex is in the works, promising an exhibition hall, a 500-room hotel, a 3,000-seat theater, and a plethora of dining and gaming options. Despite a minor setback with the hotel tower’s relocation, the project is moving forward, with the city’s economic future looking brighter than ever.
The Road Ahead
While the recent achievements are noteworthy, Bally’s Chicago has its sights set on loftier goals. The city has projected nearly $243 million in annual receipts from the casino, aiming for about $35 million in local gaming taxes. As the year progresses, all eyes will be on Bally’s Chicago to see if it can meet these ambitious targets.
