Bally’s Chicago Granted On line casino License, Clock Ticking on Temp Operation
State playing regulators have accredited a full license for Bally’s to take bets in Chicago. The Illinois Gaming Board unanimously voted to grant Bally’s license on the soon-to-be-constructed megadevelopment in River West.
The Medinah Temple, which shall be residence to Bally’s short-term Chicago on line casino. The situation netted $6.7 million and 80K guests in its first few weeks. (Picture: Friedman Properties)
The license approval begins the clock on the $1.7 billion everlasting on line casino, which have to be open by September 2026. The date for opening is dictated by the three-year time restrict on the license to function its short-term on line casino on the historic Medinah Temple.
Bally’s opened the Medinah location in September with a brief license. Illinois state regulation offers on line casino operators two years to run a brief web site, with an non-obligatory 12-month extension whereas a everlasting web site is being constructed.
Bally’s everlasting web site in River West is billed as the town’s first city on line casino. The leisure complicated will embrace a on line casino with 3,400 slots and 173 desk video games. There are additionally plans for a 3,000-seat theater and a 500-key resort tower.
It’s that $1.7 billion plan that gained former Mayor Lori Lightfoot’s approval over three different on line casino bidders final 12 months.
We’re all very assured that we’ll meet the timeline,” Bally’s Chicago normal supervisor Mark Wong mentioned to gaming board members. “Nevertheless, it’s a enormous mission.”
Bally’s has till Sept. 9, 2026, to finish the 505,000-square-foot on line casino complicated.
Bally’s Short-term Location Will get Consideration
Whereas development on the brand new location is predicted to start in July 2024, the short-term location is within the highlight.
The Medinah Temple location netted $6.7 million and 80K guests in its first few weeks of operation. It additionally acquired consideration due to its Moorish Revival-style development from 1912. As reported in On line casino.org, that drew social media consideration as a result of it may be mistaken for a mosque.
The historic Medinah Temple location accommodates roughly 800 slot machines and 56 desk video games. In accordance with state regulators, it has already generated about $695K in metropolis tax income. Chicago’s former mayor, Lori Lightfoot, believes it can herald $12.8 million to the town by the tip of 2023.
Mayor Guarantees Vibrant Future
Chicago is banking on $34 million from Medinah in 2024. It’s situated at 600 N. Wabash Avenue, which has been idle since 2020. Its three-year operation is predicted to create as many as 700 jobs.
When present Chicago Mayor Brandon Johnson minimize the ribbon on the Medinah location in early October, he known as it “extra than simply an leisure venue.” “This mission goes to safe Chicago’s fiscally sturdy and vibrant future.”
Hundreds of development jobs are promised by constructing the everlasting on line casino in River West, with as a lot as $200 million yearly going to the town.
