Bally’s Corporation has cleared a critical milestone in its ambitious plan for a $1.7 billion casino development on the banks of the Chicago River. The Providence, Rhode Island-based casino operator received formal approval from the city’s Department of Planning and Development for its site plans, paving the way for construction to begin. The new casino and resort complex will rise at the site of the old Chicago Tribune printing plant—an iconic property located in downtown Chicago.

Key Features of the Bally’s Chicago Casino Development

According to the approved project specifications, the development will feature a 500-room hotel tower, standing 34 stories tall. The single-phase construction plan will unfold on a 30-acre site located on the southern end of the Chicago Tribune property, nearest to Ohio Street along the river. The hotel tower will be a centerpiece of the broader casino development, which will also include a 3,000-seat theater, six restaurants, cafes, and a food hall.

Additionally, the development plans call for a 2-acre public park, as well as a 2,000-foot-long extension of the riverwalk, connecting the property to the lower riverbank and enhancing its accessibility for pedestrians.

Changing Designs and Unforeseen Challenges

The project faced some delays due to unforeseen underground infrastructure complications, which prompted Bally’s to revise its original design. These changes also led to an adjusted design for the hotel, as stated in a news release. Despite these setbacks, the casino developer received approval for the revised plans, and the project will move forward with the full backing of its primary financier, Gaming and Leisure Properties, based in Wyomissing, Pennsylvania.

In total, the developers have secured approximately $2 billion in financing for the Chicago project. A binding term sheet was signed for $940 million in construction funding, and Bally’s had previously estimated its total construction costs to be $1.7 billion.

Inclusive Construction Effort with Minority-Led Partnership

Chicago Community Builders Collective, a minority-led construction partnership, will oversee the project’s construction. The joint venture (JV) consists of several Chicago-based construction firms, including:

• Brown & Momen
• d’Escoto
• Milhouse
• SQN Associates
• Ujamaa Construction
• Riteway-Huggins Construction

The JV also includes firms headquartered outside Chicago, such as Powers & Sons Construction from Gary, Indiana, and Gilbane Building Co. from Providence, Rhode Island.

This diverse and inclusive partnership is designed to promote equity and provide opportunities for local businesses and workers throughout the course of the project.

Fast-Tracking Construction and Targeted Completion Date

The demolition of the former Chicago Tribune printing plant is nearly complete, and the project is now on track for a late 2026 opening. Bally’s has expressed confidence that the development will meet its ambitious timeline and add a significant entertainment and tourism hub to the Chicago River area.

The project is expected to bring substantial economic benefits to the city, with the creation of thousands of jobs, both in the construction phase and in the long term, through the operation of the casino, hotel, and entertainment facilities.

This venture comes as part of Bally’s broader plans to expand its presence in the U.S. gaming market, providing a high-end, state-of-the-art destination for both locals and tourists while enhancing Chicago’s reputation as a major destination for entertainment and gaming.

A Long-Term Vision for Chicago’s Riverfront

The development of the Bally’s Chicago casino is part of a larger initiative to revitalize the Chicago Riverfront area, which has seen significant growth in recent years with a focus on public amenities, green spaces, and waterfront access. By adding a large-scale resort and entertainment complex to the city’s skyline, the project aligns with the city’s vision of becoming a leading destination for both leisure and business tourism.

Overall, Bally’s Chicago project promises to be a transformative development, bringing world-class gaming and entertainment to the heart of Chicago, along with new infrastructure, job opportunities, and a revitalized riverfront. The approval of the site plans is the first step in what is expected to be an exciting chapter in Chicago’s urban development and gaming history.

Originally reported by Matthew Thibault in Construction Dive.