Bally's Corporation Selected for Chicago's First Casino License by City Council
The Chicago City Council voted in May 2022 to select Bally's Corporation as the preferred developer for Chicago's first licensed commercial casino, authorising Bally's to proceed with the Illinois Gaming Board licensing process and planning for a permanent casino resort at a site on the Chicago River.
Key Takeaways
- Chicago City Council approved Bally's Corporation as the sole bidder for Chicago's first casino license in May 2022
- Bally's selected site for the permanent casino: the former Chicago Tribune printing facility along the Chicago River
- The Illinois Gaming Board was required to conduct its own licensing review and approve the licence separately
- Bally's Corporation is a Providence, Rhode Island-based gaming company with casino properties across multiple US states
- Chicago's casino is expected to be among the largest revenue-generating casino facilities in the Midwest when operational
- Illinois enacted casino expansion legislation in 2019, authorising a Chicago casino among new gaming licences across the state
Why It Matters — Players
Why It Matters — Operators
The Chicago City Council voted on May 25, 2022, to select Bally's Corporation as the preferred developer for Chicago's first licensed commercial casino — a decision that ended a competitive bidding process involving multiple gaming operators and set Bally's on the path toward Illinois Gaming Board licensing and the development of a major new casino resort in the city.
Background: Illinois Casino Expansion Legislation
Illinois enacted comprehensive casino expansion legislation in June 2019 (House Bill 1260), which authorised new casino licences across the state including one specifically for the City of Chicago. The Chicago casino licence was notable because it had the potential to become one of the highest-revenue gaming facilities in the Midwest, given Chicago's status as the third most populous city in the United States. However, the competitive and complex city bidding process delayed the selection for nearly three years.
The Bally's Proposal
Bally's proposed to develop the Chicago casino at the former Tribune Publishing printing facility along the North Branch of the Chicago River, northwest of downtown. The planned permanent facility would include a significant gaming floor, hotel accommodation, dining and entertainment venues, and event space — representing a major investment in the development site.
The Bidding Process
Chicago's request for proposals attracted multiple major gaming operators. Bally's ultimately emerged as the city's selection following a review that considered factors including the proposed casino location, economic and tax revenue projections, workforce and community benefits commitments, and the design of the proposed facility.
Next Steps: Illinois Gaming Board
The Chicago City Council's approval gave Bally's preferred status but not the actual gaming licence — that required a separate Illinois Gaming Board licensing process. The IGB conducts its own rigorous review of applicants including background investigations, financial capability assessments, and regulatory compliance evaluations. A temporary casino facility was subsequently planned and developed while the permanent site was in design and construction phases.
- Source:
- Reuters
- Published:
- May 25, 2022
- Original Article:
- View Source
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