Bally’s Temporary Casino Is First To Open In ChicagoPermanent Facility’s Construction Set To Begin Next Year |
|
Gamblers in the Chicago area now have a new option with the opening of the new Bally’s temporary casino. City leaders officially helped usher in the new facility on Tuesday with a ribbon-cutting ceremony.
The 34,000-square-foot casino houses 800 slots and 56 table games, offering players a casino option until a permanent facility is expected to open in 2025 or 2026.
Seeing a casino within the city was a major priority for former mayor Lori Lightfoot. Current Mayor Eric Johnson (D) was at the opening and is pleased to see those efforts come to fruition.
“I talk about how Chicago is the greatest freakin’ city in the world, and for those who did not know, now they know,” Johnson said during the ceremony. “And attractions like Bally’s continue to show why we are beloved and why we’re a destination for visitors from all over the globe.”
Details On The Temporary Venue
The unveiling came just a few weeks after the Illinois Gaming Board gave the property the go-ahead. City officials estimate that the temporary casino will produce 700 jobs and $50 million in tax annual revenue.
The new casino is located in Medinah Temple, situated in the city’s Magnificent Mile corridor just to the north of the Chicago River. While several casinos can be found in the suburbs of the Chicagoland area, Bally’s becomes the first to be actually located within the city.
“To all of our residents and Illinoisans and everyone else: please come and — responsibly — spend your money at this casino,” Johnson said.
Plans For The Permanent Casino
Bally’s is planning a massive project for the permanent facility – a $1.7 billion casino at Freedom Center in the River West area on property along the Chicago River. Chicago-area gamblers can look forward to 3,400 slots, 170 table games, a 500-room hotel, a 3,000-seat entertainment venue, six restaurants, a food court, three bars, and more.
The project is expected to break ground next year and create thousands of construction jobs. The city estimates the casino will bring in $200 million in annual tax revenue to help shore up police and fire pension debt. The city owes more than $35 billion to its four employee pension funds including police, firefighters, municipal employees, and other laborers.
Along with the tax revenue, Bally’s is sending the casino an initial fee of $40 million, another $4 million annual payment, and also making $75 million in infrastructure improvements.
“This is more than just an entertainment venue,” Johnson said. “This project is going to secure Chicago’s fiscally strong and vibrant future.”
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
