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The Latest Breaking News from Bally

Bally’s play for long-awaited Chicago casino now up to state regulators — but hopes to open temporary site next year face long odds

Bally’s has filed its application with the Illinois Gaming Board seeking approval for a $1.7 billion riverfront casino-resort. The city is hoping a temporary casino can open by next summer. But the board has up to a year to review the application, with the possibility of an extension beyond that.

Chicago Sun-Times

City’s budget forecast includes $42.7 million increase in property taxes

The proposed increase would cost the owner of a home valued at $250,000 just $34 more a year, Mayor Lori Lightfoot said, “about the price of an Al’s Italian beef — hot, dipped, with extra cheese — for a family of four.”

Chicago Sun-Times

Community meeting aims to ease fears about Medinah Temple’s temporary future as casino

‘The Las Vegas strip is not going to be on your doorstep,’ said Mayor Lori Lightfoot’s Chief Engagement Officer Martina Hone.

Chicago Sun-Times

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Bally’s, praised by labor here, faces strike threat in Rhode Island

The winner of the Chicago casino bid, who promised good labor relations here, nearly had to contend with a walkout over the July 4 weekend at its operation outside Providence.

Chicago Sun-Times

Why Bally's Shares Are Surging Today

Bally's Corp (NYSE:BALY) has launched a modified "Dutch auction" tender offer to purchase its common shares for cash at not less than $19.25/share and not more than $22/share, with a maximum purchase price of $190 million. The tender offer begins today and will end on July 22, 2022. Bally's determined to pursue the…

Benzinga

Casino developer makes $40 million ‘down payment’ as promised — a small dent in Chicago's pension bills

CHICAGO — Bally’s, the casino operator chosen to bring a gambling mecca to Chicago’s River West neighborhood, has made its initial $40 million payment to the city — money that is earmarked to help fill massive pension holes in future budgets.

Chicago Tribune

River North group wants better infrastructure around proposed casino, but who pays?

The organization’s request possibly hints at a broader issue: That the casino site could prove to be a potential time bomb of hidden public infrastructure costs.

Chicago Sun-Times

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River North group demands changes to make Bally’s casino more palatable

The River North Residents Association issued a wish list divided into eight categories. The most costly asks are infrastructure projects — led by the proposed Jefferson Street extension and construction of entrance and exit ramps off the Ontario-Ohio feeder.

Chicago Sun-Times

Creating ‘Din City’ anywhere along Chicago River is wrong move

As part of the Bally’s casino plan, the wholesale adoption of outdoor entertainment venues on a large scale flies in the face of well-thought-out guidelines concerning Chicago River development.

Chicago Sun-Times

Afternoon Edition: May 25, 2022

Today’s update is a 5-minute read that will brief you on the day’s biggest stories.

Chicago Sun-Times

City Council approves Bally’s $1.7 billion casino in River West

The plan for a casino along the Chicago River passed 41-7, but not before a screaming match between Mayor Lori Lightfoot and Ald. Byron Sigcho-Lopez, who accused her of being “more worried about campaign contributions than doing the right thing for the city of Chicago.”

Chicago Sun-Times

Casino plan moves forward, but deal still has too many lingering questions

Bally’s is not contractually obligated to meet its own revenue projections. The Lightfoot administration agreeing to this reeks to us of haste and desperation.

Chicago Sun-Times

$1.7 billion Bally’s Chicago casino clears key hurdle

Thanks to a push from organized labor, a special City Council committee approved an ordinance authorizing Bally’s to build a $1.7 billion permanent casino in River West, preceded by a temporary home at Medinah Temple.

Chicago Sun-Times

Lightfoot rushing to get City Council approval of Bally’s casino bid next week

It’s an unusual timeline for any legislation to move through the council, and unnecessary at that, said Ald. Brian Hopkins (2nd), who vehemently opposes Bally’s proposal to break ground at Chicago Avenue and Halsted Street.

Chicago Sun-Times

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Chicago Sun-Times

Bally’s to chip in $2 million annually for public safety around temporary casino site — ‘totally insufficient,’ opponents say

With crime among the top concerns of a vocal contingent of neighbors vehemently opposed to the development, the $2 million is meant to bolster security around the temporary site at a River North intersection that already has entrenched crime issues, opposing Ald. Brendan Reilly (42nd) has said.

Chicago Sun-Times

New music venue at former Morton Salt site clears key hurdle

Creating an ‘outdoor entertainment venue liquor license’ is a big step toward holding concerts this summer at the former Morton Salt facility, 1357 N. Elston Ave. But two alderpersons are a little salty about the prospect.

Chicago Sun-Times

Lightfoot pushing for Friday vote on casino ordinance and host agreement with Bally’s authorizing River West casino

Zoning Committee Chairman Tom Tunney (44th), who doubles as the casino committee chairman, said he is not at all certain that the votes are there to approve the companion agreements. “There’s still a lot of work to be done. I don’t know if we can get it done by Friday.…

Chicago Sun-Times

Chosen casino developer lays out his cards — but wary residents would rather Bally’s folds its hand

Soo Kim, CEO of Bally’s Corp., joked that after gaining Mayor Lori Lightfoot’s backing to build a casino at Chicago Avenue and Halsted Street, “it would be easier for me to be hiding in some dark, smoky room. I’m here in person telling you that we’re going to keep our…

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Chicago Sun-Times

Don’t let the door hit you in the ...

Boeing is not the kind of company we want to keep.

Chicago Tribune

Chicago rolls the dice on Bally’s. Hedge fund owner Soo Kim says the rebranded casino company will deliver

CHICAGO — When Mayor Lori Lightfoot named Bally’s the winner of a yearlong vetting process Thursday, it ended an intense competition that saw five proposals from four development teams narrowed down to one Chicago casino.

Chicago Sun-Times

Bally’s boss promises casino will showcase ‘authentic’ Chicago

Voicing no concern about violence or rising costs, Soohyung Kim also said city is urging him to put a temporary gaming center in Medinah Temple.

Chicago Sun-Times

Reilly condemns 11th-hour ‘switcheroo’ to Medinah Temple as site for temporary casino

“We’re already struggling with a major crime problem in this area of River North. To layer this on top ... you’re giving the police department an assignment they don’t have the resources to handle,” Ald. Brendan Reilly (42nd) said.

Chicago Sun-Times

Afternoon Edition: May 5, 2022

Today’s update is a 5-minute read that will brief you on the day’s biggest stories.

Chicago Sun-Times

Mayor takes casino path of least resistance, but is it a winning hand?

Just because Ald. Walter Burnett is willing to put up with the inconvenience of a casino doesn’t mean Mayor Lori Lightfoot will easily round up the other 25 City Council votes she needs to ratify Bally’s River West site.

Chicago Sun-Times

Bally’s River West casino proposal gets city nod

Bally’s was picked over two rival bids involving South Loop sites: one by gaming behemoth Hard Rock International and another by hometown favorite Rush Street Gaming, chaired by billionaire Rivers Casino mogul Neil Bluhm.

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