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Bally's proposes $1.6B Chicago flagship resort

Bally's Corp. has submitted a proposal to the city of Chicago to develop and operate the $1.6 billion Bally's Chicago resort. If approved, the casino, hotel and entertainment venue will be Bally's flagship property.

"Chicago is a dynamic, world-class city, which is why we are committing to make a $1.6 billion investment in establishing Bally's Chicago as our flagship, and the only property in its class in the Chicagoland market," Bally Chairman Soo Kim said in a statement. "This property will be built, owned and operated by Chicagoans, with a focus on minority and women investors, contractors, suppliers, consultants and employees. It will generate tax revenue, create good-paying jobs, and attract international, national, and local visitors for generations to come."

The Site

Bally's has proposed two potential sites, both of which it views as economic “sleeping giants” for the city, for the new development: the Chicago Tribune Publishing Center, located on the corner of Chicago Avenue and Halsted Street, and the McCormick Place Truck Marshaling Yard. The Tribune site is within walking distance to shopping, restaurant and other cultural attractions and easily accessed by public transportation. The McCormick Place Truck Marshaling Yard would create an entertainment destination that connects Chicago's convention hub with the Bronzeville community and would turn the underutilized site into a source of tax revenue for the city.

The plan would have the resort built in two phases. The $1 billion first phase would have 2,700 slot machines and 95 table games with room for expansion, a 100-suite luxury hotel, an outdoor music venue for performances seating 500 to 1,000 as well as green space and dining options curated by Paul Kahan's One Off Hospitality.

Upon achieving the expected investment return threshold on Phase 1, Bally's Chicago would then expand its footprint with an additional $600 million investment to add up to 4,000 total gaming positions; a 400-room hotel tower with a rooftop pool and bar; an amenity terrace with a larger pool, spa, fitness center and sun deck; a 3,000-seat flexible indoor entertainment venue that can accommodate large performances, smaller meetings and private events; a 20,000-square foot exhibition space with both a Chicago sports museum and rotating immersion exhibits; and an expanded food-and-beverage program with additional large-format restaurants, including a steakhouse.

In response to the city's request that a temporary facility operate while the permanent facility is being developed, Bally's Chicago intends to operate a temporary facility adjacent to the Chicago Tribune Publishing Center site. The site, its amenities and experience, will introduce visitors to the Bally's Chicago brand and serve as a precursor to the permanent facility.

“From design and build to operations and ownership, Bally's Chicago is committed to providing meaningful leadership roles, well-paying jobs and investment opportunities for all Chicagoans,” Bally Director Wanda Y. Wilson (a native of Chicago) said in a statement, highlighting businesses that are certified as minority-owned, woman-owned or veteran-owned as well as businesses owned by economically disadvantaged people (frequently using the respective acronyms MBE/WBE/VBE/DBE). “I have spent my career in gaming, and am proud to be a director and investor in Bally's. Its commitment to innovation, culture and diverse ownership makes it a leader in the industry. Everyone knows the Bally name, and that global recognition will attract visitors to Bally's Chicago."

Investors

Bally's Chicago's minority investors have a 25 percent ownership stake in the project and include philanthropists, business owners, sports stars, celebrities and everyday Chicagoans from the African American and Latino communities, as well as other ethnic and gender representation.

Operations Team

Bally's Chicago aims to recruit, train and hire a team that reflects the diversity of the city. Through workforce development partnerships with community-based organizations, nonprofits and city Colleges of Chicago, Bally's Chicago has committed to the following hiring goals:

  • 30 percent vendor diversity goal
  • 45 percent women hiring goal
  • 45 percent minority hiring goal
  • 5 percent veterans hiring goal
  • 5 percent persons with disability hiring goal