Demolition work is now underway at the future site of Bally’s highly anticipated $1.7 billion permanent casino in Chicago’s River West neighborhood. This major development is set to transform the area, taking over the former Chicago Tribune Freedom Center printing facility, located at the intersection of Halsted Street and Chicago Avenue. As the groundwork begins, Chicago moves one step closer to hosting the largest entertainment and gaming complex in the city’s history.
This project comes on the heels of Bally’s opening a temporary casino in November, marking a significant milestone in their long-term plans. The temporary venue has already given Chicagoans a taste of what’s to come, while the permanent site is being prepped for an official opening in 2026. Alongside the casino itself, the development will include a hotel, restaurants, bars, and entertainment options, positioning Bally’s Chicago as a premier destination for tourists and locals alike.
The Vision: A $1.7 Billion World-Class Casino and Resort
The $1.7 billion permanent casino is a critical part of Bally’s long-term vision to bring a world-class entertainment and gaming hub to Chicago. This massive project will feature 3,400 slot machines, 170 table games, and a state-of-the-art 65,000-square-foot entertainment center. In addition to gaming, the venue will also house 10 food and beverage outlets, ranging from fine dining to casual options, ensuring a variety of experiences for guests.
Complementing the gaming and dining facilities, the project includes a 500-room luxury hotel tower, complete with a rooftop bar that will offer sweeping views of the Chicago skyline. This hotel will allow guests to extend their stay and fully enjoy everything the entertainment complex has to offer. Additionally, Bally’s plans for an extensive entertainment center signal their intent to make this not just a gaming destination, but a multi-faceted entertainment venue for concerts, shows, and special events.
Temporary Casino Opens: A Preview of What’s to Come
Bally’s did not waste time in getting the ball rolling in Chicago. In November, the company launched a temporary casino as part of their multi-phase strategy. This temporary site has provided a glimpse into the future of the permanent casino while generating excitement and revenue in the lead-up to the grand opening in 2026.
The temporary facility includes a smaller selection of gaming options and is already attracting attention from both locals and visitors. This strategic move allows Bally’s to establish a foothold in the market while construction is underway. By opening the temporary site, they can begin building brand recognition and loyalty among Chicago gamers.
Financial Backbone: Bally’s Secures $940 Million for the Project
A project of this scale requires substantial funding, and Bally’s has made significant strides in securing the necessary resources. In July, Bally’s announced a $940 million deal with Gaming and Leisure Properties, a real estate investment trust (REIT). This agreement will provide essential financial backing for the construction of the permanent casino and other components of the development.
Under the terms of the deal, Gaming and Leisure Properties will own the land and buildings of the casino and lease them back to Bally’s for operations. This arrangement allows Bally’s to focus on the gaming and entertainment aspects while leveraging the financial and real estate expertise of the REIT. The $940 million will cover a significant portion of the construction costs, allowing Bally’s to move forward confidently with the project timeline.
This type of sale-leaseback model has become increasingly common in the gaming industry, as it enables operators like Bally’s to free up capital for investment while relying on specialized real estate firms to manage property ownership. Bally’s decision to enter this partnership underscores the financial complexity and planning required for a development of this magnitude.
Timeline and Construction: Opening Slated for September 2026
The permanent Bally’s Chicago casino is scheduled to open its doors in September 2026. The demolition work at the former Freedom Center site marks the beginning of the construction process. Over the next two years, Bally’s will work to transform the former printing facility into a state-of-the-art casino and entertainment complex.
The project’s construction is expected to follow a phased approach, ensuring that each element, from the casino floor to the hotel rooms, is completed to the highest standards. The demolition and site preparation alone will take several months, followed by the construction of the casino, hotel, and entertainment venues. By 2026, Chicago will have a new landmark in the heart of River West.
Bally’s has already demonstrated a commitment to keeping the project on schedule, with careful planning and collaboration with local authorities and contractors. The phased construction approach also allows Bally’s to adapt to any unforeseen delays or challenges that may arise during the building process.
Chicago’s River West: Transformation and Economic Impact
The location of the new Bally’s casino in River West is significant. This neighborhood, which is just north of the downtown Loop area, has been undergoing rapid transformation in recent years. Traditionally an industrial zone, River West has seen an influx of new development, including residential and commercial projects. The addition of Bally’s casino will further accelerate this transformation, turning the area into a vibrant entertainment district.
One of the key benefits of the casino development is its potential economic impact on the local community. The project is expected to create thousands of construction jobs during the building phase and thousands of permanent jobs once the casino is operational. This influx of employment opportunities will provide a much-needed boost to the local economy, particularly in a post-pandemic environment.
In addition to job creation, the casino is projected to generate significant tax revenue for the city of Chicago. With 3,400 slot machines and 170 table games, the casino will be a major source of gaming revenue for the state. These funds can be used to support city infrastructure, education, and public services, further enhancing the positive impact of Bally’s development on the local community.
Community Concerns and Regulatory Oversight
While the economic benefits of the Bally’s project are clear, large-scale developments like this often face community concerns. Residents in the River West area have raised questions about the potential impact on traffic, noise, and neighborhood character. The influx of tourists and casino-goers could strain local infrastructure, particularly in terms of transportation and parking.
To address these concerns, Bally’s has committed to working closely with the city and local community groups throughout the construction and operational phases. Plans are in place to mitigate traffic congestion and ensure that the project integrates seamlessly into the existing urban landscape. Additionally, Bally’s is engaging with local stakeholders to create a development that reflects the values and needs of the surrounding community.
Regulatory oversight from the Illinois Gaming Board (IGB) will also play a crucial role in ensuring that the project adheres to strict gaming laws and ethical standards. Bally’s must continue to work with state regulators to ensure the smooth rollout of the casino’s gaming operations.
Bally’s Competitive Edge in Chicago’s Gaming Market
Bally’s Chicago will not be the city’s only gaming venue, but it will be the largest and most comprehensive. This scale gives Bally’s a significant competitive edge in the market. The combination of gaming, entertainment, dining, and accommodations all under one roof sets Bally’s apart from other casinos in the region, which may focus solely on gambling.
The company’s decision to include a large entertainment center signals a focus on a broader audience beyond traditional gamblers. With concerts, performances, and other events planned, Bally’s hopes to attract a wide variety of visitors, from casual tourists to dedicated gamers.
The hotel, rooftop bar, and luxury amenities also position Bally’s to appeal to high rollers and tourists seeking a premium experience. With its strategic location in River West, Bally’s is poised to draw in both local Chicagoans and visitors from out of state, making it a hub for entertainment in the city.
Bally’s $1.7 billion permanent casino is set to become a game-changer for Chicago, both in terms of entertainment and economic impact. With the demolition of the former Chicago Tribune Freedom Center now underway, the project is on track for a 2026 opening, bringing with it 3,400 slot machines, 170 table games, a luxury hotel, and a massive entertainment center.
As the largest casino development in Chicago’s history, Bally’s will transform River West into a premier entertainment destination, generating jobs, tax revenue, and tourism for the city. With careful planning, strategic financial partnerships, and a commitment to community engagement, Bally’s is poised to create a lasting impact on Chicago’s economy and skyline.
The next few years will be critical as Bally’s navigates construction, community concerns, and regulatory challenges. But if all goes as planned, Chicagoans and visitors alike can look forward to a new era of entertainment, luxury, and gaming at Bally’s Chicago.