Bally’s officials and local leaders recently celebrated a “topping off” ceremony, a symbolic step signaling that the last steel beam has been placed at the structure’s highest point, signaling a critical end phase of construction.
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Finish Line Ahead
Bally’s $1.7 billion casino project in Chicago has been riddled with delays. In December 2024, construction debris spilled into the nearby Chicago River, prompting many to question the feasibility of the project.
“The safety of our surrounding community and employees remains our top priority,” according to the statement from Bally’s Chicago and Chicago Community Builders Collective. “We regret this incident occurred, and we will work diligently to prevent similar incidents moving forward.”
Although no serious contamination occurred and the situation was remedied in only a month, it was yet another unexpected hurdle that cost time and money. However, construction has continued, and the topping-off ceremony is not only a symbolic event but also one that signals completion is near.
Nevertheless, the earlier delays have not been fully mitigated, as the original completion date of September 2026 has been extended to the spring of 2027. The development also matters to Chicago because it was promoted as a way to help generate revenue to address the city’s $37.2 billion public pension shortfall—a deficit larger than most U.S. states carry.
“The $1.7 billion development is part of a 30-acre redevelopment of the former Chicago Tribune Freedom Center site, which will be transformed into a riverfront destination reconnecting River West and the Near West Side to the Chicago River, improving public access, and activating the river’s edge,” according to a statement issued by the Rhode Island-based regional casino operator.
Chicago Hope
While the casino alone won’t fix the pension issue, it is expected to bring economic benefits. Bally’s estimates the project will create around 3,000 permanent jobs, which would boost tax revenue for both the city and the state.
As for the property itself, plans call for a 500-room hotel with a rooftop bar. The casino floor is expected to feature 173 table games and 3,400 slot machines, along with 10 dining and beverage options and a 3,000-seat event space.
“When completed, the over 1,000 union workers who are building the casino project will not only change our skyline, but they will also be building it. The casino, the hotel, entertainment venue, and restaurants are anticipated to generate more than $100 million in new revenue every year,” Johnson said.
Per the agreement, Bally’s has already made a $40 million upfront payment to the city and will pay $4 million annually. But the real money is expected from the taxes generated by the Windy City’s new monolith, estimated to be in the range of $107 million per annum.
But promises made and promises kept by the city have not been the same, at least when it came to maintaining the prohibition on video gambling machines in bars and restaurants. The city lifted the ban as part of its 2026 alternative budget, and Bally’s has stated that this was a promise that has been broken, and the action will eliminate its casino’s monopoly on those games in the city.
“Part of the host community agreement is all the commitments that we made in terms of investments were predicated on the city keeping its promises to us. So it’s important, but I wouldn’t say $4-million-a-year important,” said Bally’s Chairman Soo Kim.
As Chicago continues to navigate this massive expansion of its local gambling landscape, it serves as a great reminder for players everywhere to maintain responsible betting habits, whether visiting a sprawling retail property or staying home to find the best odds with our recommended online partners.
