Chicago’s fraught relationship with casinos traces back to Al Capone’s illegal gambling dens. Bally’s Casino, with plans to build a massive casino and hotel tower on the Chicago River, represents a stark contrast to the clandestine basements where such games were once conducted. After relocating building sites, switching architecture firms, and stymieing funding concerns, Bally’s is moving forward with the project designed by HKS Architects.
In a statement, Bally’s president George Papanier said: “With keys to the property in hand, the new financing secured, a site plan that exceeds the original, and demolition set to start this summer, let there be no doubt that Bally’s Chicago Casino and Hotel will soon rise up along the Chicago River.”
Is Bally’s a Gamble?
Two decades ago, Mayor Richard Daley declared he wanted a casino in the center of Chicago. In 2021, Daley’s appeal inched closer to reality when Mayor Lori Lightfoot invited companies to submit bids to build and operate a Chicago casino. In the end, Bally’s beat out steep competition, Neil Bluhm, owner of Rivers Casino; and Hard Rock Casino. City officials have a stake in the game: A casino would create jobs and generate $200 million a year in tax revenue for the city.
But building a sprawling casino complex within the city did not go without controversy. Early on, City Councilman Brian Hopkins criticized the selection of Bally’s due to its limited experience in managing operations within a major city and constructing casinos, declaring: “We’re hitching our wagon to an unexperienced horse, and that is a problem.”
In 2022, Chicago approved a $1.7 billion Bally’s riverfront casino complex designed by SCB at the former site of the Chicago Tribune. The plans called for an expansive casino on the Chicago river, armed with 4,000 gaming positions and 11 restaurants, in addition to a 500-room hotel.
Despite civic disputes, the project continued. In May 2023, new renders were released with Gensler added to the team, tackling the design of the casino, while SCB would handle the hotel. Renders showed an elegant waterfront structure with large windows and ample greenspace.
Just months later—with plans still under development—Bally’s opened a temporary casino within the Medinah Temple in September 2023, sparking funding concerns. Officials began to grow worried about Bally’s ability to deliver: In nine months, the casino had generated nearly $7 million less for the city than what was expected by Lightfoot.
To make matters worse, in February 2023, the company announced it still needed to scrape up $800 million to complete the new riverfront casino. This announcement came just after Bally’s had revealed a site adjustment. Preliminary research determined caissons for the proposed hotel tower might damage municipal water management infrastructure pipes.
Back to Business
This month, Bally’s has finally announced a shining new site plan that addresses both construction and funding concerns. Dallas-based firm HKS Architects—behind The Palazzo in Las Vegas—has taken lead on the project. New renders depict a riverfront casino, alongside the same 500-room hotel, albeit with a slightly adjusted orientation aimed at addressing foundation concerns related to water infrastructure.
The hotel tower—relocated from the northern end to the southern end of the casino—will now be situated near Ohio Street along the Chicago River. The hotel will feature a pool spa, gym, and sun deck in addition to a rooftop restaurant with views of the Chicago skyline. HKS’s design for the casino offers 3,400 slots, 170 table games, and VIP gaming areas, with a connection to the riverbank and an extension of the riverwalk.
The latest edition of the project is the result of a financial deal with real estate investment trust, Gaming and Leisure Properties. The trust has promised Bally’s $940 million for the $1.34 billion project, effectively filling Bally’s $800 million funding gap. Gaming and Leisure Properties will provide financing under a lease-back arrangement for an initial term of 15 years.
On July 5, Bally’s officially obtained the former Chicago Tribune publishing site at 777 West Chicago Avenue. The project’s demolition contractor, Brandenburg Industrial Service Company, has already begun work. Construction is expected to conclude by 2026—particularly as, per state gaming law, Bally’s must leave its temporary casino and move into its permanent one by September of that year.
