Bally’s Corp. Makes $40M Down Payment to Chicago for Downtown Casino

Bally’s Corp. plans for a state-of-the-art casino in downtown Chicago took its next step when it made a $40 million payment to the city.

In November 2021, Chicago received five proposals from four applicants for a downtown casino. In May 2022, the city recommended Bally’s Corp. be selected to build the casino, according to the City of Chicago website, by way of a 41-7 City Council vote, beating out Rush Street Interactive and Hard Rock Interactive.

Chicago had one casino license available as part of the state’s 2019 gambling legislation.

Fully remote registration for mobile IL sportsbooks became legal in March 2022.

In early June, Chicago and Bally’s signed a host community agreement, which codified the license for the city’s first casino.

“The City of Chicago received $40 million from Bally’s as part of an upfront payment that will go entirely toward the city’s annual required pension contribution. This is the first down payment from the casino on the future of Chicago’s pensions and a clear indication of the city’s commitment to its hard-working public safety professionals,” the Mayor’s Press Office said in a news release last week. “In the years to come, the Chicago casino is projected to bring hundreds of millions of dollars in revenues to the city, with many of those revenues embarked for pensions.

“Mayor Lightfoot and her team look forward to building upon this success by bringing thousands of good-paying, union jobs and a world-class entertainment district to the River West neighborhood. The Mayor also looks forward to continuing to engage with community through the establishment of a casino community advisory council.”

Bet Match Up to $250

Must be 21+ and physically present in AZ, CO, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MO, NJ, NY, NC, OH, PA, TN, VA, WV, WY or Washington, DC. New users only. Must register using eligible promo code. First wager after registration must qualify. Min. Odds: -500. Max. Bonus Bet: $250. Awarded as non-withdrawable Bonus Bet that expires 14 days after receipt. Bonus Bet amount not returned for winning bets. Void where prohibited. See http://Caesars.com/promos for full terms. Know When To Stop Before You Start®. Gambling Problem? CO, IL, KY, MD, MI, MO, NJ, OH, TN, VA, WV, WY, KS (Affiliated with Kansas Crossing Casino), ME (Licensed through the Mi’kmaq Nation, Penobscot Nation, and Houlton Band of Maliseet Indians, federally recognized tribes located in the State of Maine), NC (Licensed through Tribal Casino Gaming Enterprise), PA (Affiliated with Harrah's Philadelphia): If you or someone you know has a gambling problem, crisis counseling and referral services can be accessed by calling 1-800-GAMBLER (1-800-426-2537) or MD: visit http://mdgamblinghelp.org or WV: visit http://1800gambler.net ; AZ: Call 1-800-NEXT-STEP; IN: Call 1-800-9-WITH-IT; IA: Call 1-800-BETSOFF; LA (Licensed through Horseshoe Bossier City and Caesars New Orleans), Washington, DC (OLG Class A licensed Operator): Call 1-800-522-4700. ©2025, Caesars Entertainment Gambling Problem? Call 1-800-GAMBLER DC, LA: Call 1-800-522-4700 MA: Call 1-800-327-5050 or visit http://gamblinghelplinema.org NY: Call 877-8-HOPENY or text HOPENY (467369)

A $1.7B Project in Downtown Chicago

Bally’s Chicago will be a $1.7 billion destination casino, entertainment and hotel offering, according to the Bally official website, which outlined that the project “will showcase ‘The Best of Chicago’ as visitors will get a taste of what the city has to offer – from arts and culture, food and sports to our curated dining and entertainment experiences.”

The location for the casino is on the 30-acre Chicago Tribune Publishing Center at Chicago Avenue and Halsted Street, just west of the Chicago River’s north branch.

Bally’s plan is to open a temporary casino inside the former Medinah Temple complex on North Wabash Avenue, which will be open to patrons until the permanent casino is completed in early 2026.

It is within walking distance to shopping and cultural attractions along Michigan Avenue, according to Bally’s. The casino will offer gaming to high-limit and casual gaming customers, along with a four-tier loyalty card program with “lucrative rewards in the industry and a tie-in to small businesses.”

$1,500 Paid Back in Bonus Bets If You Don't Win

Gambling problem? Call 1-800-GAMBLER (Available in the US) Call 877-8-HOPENY or text HOPENY (467369) (NY) Call 1-800-327-5050 (MA), 1-800-NEXT-STEP (AZ), 1-800-BETS-OFF (IA), 1-800-981-0023 (PR) 21+ only. Please Gamble Responsibly. See BetMGM.com for Terms. First Bet Offer for new customers only (if applicable). Subject to eligibility requirements. Bonus bets are non-withdrawable. In partnership with Kansas Crossing Casino and Hotel. This promotional offer is not available in DC, Mississippi, New York, Nevada, Ontario, or Puerto Rico.

First Payment Helps Budget Shortfall

The $40 million upfront in licensing fees helps put a dent in the city’s budget shortfall while providing jobs to Chicagoans.

“This is a generational opportunity, which the city has been working toward for 30 years,” City CFO Jennie Huang Bennett said during the council meeting in March to approve Bally's.

Bally’s will continue to make $4 million annual payments to Chicago and still needs to be licensed by the Illinois Gaming Board to operate the casino. According to a Bally’s Group news release, the company projects to generate more than $800 million annually in gaming revenue.

Bet Match Up to $250