Bally's may get another year to open permanent casino in River West - Chicago Sun-Times
Bally's is seeking a one-year extension to open its $1.7 billion permanent casino in River West due to construction and financial challenges.Summary
Bally's may receive an extension until September 2027 to operate its temporary casino at Medinah Temple and complete its $1.7 billion permanent casino in River West. State Rep. Kam Buckner introduced a bill to grant this extension, citing construction delays, financing issues, and broader city challenges. While Bally’s aims for a September opening, the extension serves as a precaution. Concerns exist regarding the long-term viability of the project and its ability to generate sufficient revenue for Chicago’s police and fire pension funds, which are facing financial difficulties. The temporary casino has generated $280 million in revenue since opening in September 2023, but returns are lower than initial projections. Additional complications include Chicago’s decision to tax online sports betting and the legalization of video gambling, which Bally’s warns could negatively impact revenue.
(Source：Chicago Suntimes)