Bally’s receives approval for Chicago Casino project
The Chicago Department of Planning and Urban Development has approved the plans for Bally’s Chicago Casino.
US.- Bally’s Corporation has announced that its proposed site plan for Bally’s Chicago Casino has been approved by the Chicago Department of Planning and Urban Development. The company plans to begin construction on the mixed-use entertainment space in late 2024. The $1.7bn development is projected to bring over 3,000 permanent jobs to the city.
The resort will feature a casino, VIP areas, a food hall, restaurants, a theatre and event space, a museum and exhibition area and a 500-room hotel. The hotel tower will have a spa and food and beverage venues. More than 10 acres of outdoor space will include a public park.
Bally’s senior vice president of design and development Joyen Vakil said: “Inspired by the city’s interplay—grit and grandeur, structure and the organic, historically-charged and cutting-edge—the design of Bally’s Chicago creates a sense of wonder and adventure accessible to everyone. The plan is uniquely focused on bringing in nature and wellness through the addition of numerous public plazas and parks.”
Bally’s Chicago Casino plans to open a temporary casino at Medinah Temple in July. The company is looking to fill hundreds of vacant job positions. The casino received final zoning approval in December.
Bally’s Corporation reports Q1 2023 results and two appointments
Bally’s Corporation has reported financial results for the quarter ended March 31. The company has reported revenue of $598.7m, up 9 per cent compared to the same period last year. Adjusted EBITDA was $126.4m, up 10 per cent, and adjusted EBITDAR $157.6m. Bally’s reported net income of $178.3m, up from $1.9m.
Casino & Resorts revenue for the quarter grew 17.4 per cent to a record $328.8m. North America Interactive revenue was 60.5 per cent higher at $24.4m. However, International Interactive segment revenue decreased 4.1 per cent year-on-year to $245.6m.
