Bally’s Chicago Sets $1 Million Tax Revenue Record in February

By Jane Shaw Senior Editor Updated: 03/20/2024

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Bally’s Chicago Pays Record $1 Million Tax

It has been reported that the temporary Bally’s Chicago casino has exceeded expectations by generating a record $1 million in tax revenue for the first time in February 2024. This impressive figure has been put down to a number of factors, including excellent gaming revenue levels and increased footfall at the company’s flagship Chicago casino.

According to data that was recently released by the Illinois Gaming Board, Bally’s temporary Medinah Temple casino experienced a 6.5 percent surge in adjusted gross revenue, reaching nearly $9.9 million in February. This placed the Bally’s Chicago casino in fourth position among the 15 casinos operating in the state, according to reports.

However, despite this impressive performance, it fell slightly behind Harrah’s Joliet, which secured the third spot during the same period.

A Combination of Factors

Officials believe that a range of factors have contributed to the successful figures for February. The surge in revenue could be directly related to either increased betting activity or a rise in visitor numbers to the resort.

Reports suggest that footfall at Bally’s Chicago soared by almost 20 percent in February, with close to 106,000 visitors recorded. This made it the second most visited casino in the state, with the Rivers Des Plaines casino taking first place.

Mark Wong, vice president and general manager of Bally’s Chicago, said:

Bally’s Chicago Casino is the second-most visited of any Illinois casino every month since opening and the momentum is palpable as we welcome new guests each day.

In addition to the Medinah Temple venue, Bally’s Chicago also launched another temporary casino in September 2023, located in River North. The company believes that the combined success of these facilities will further enhance its revenue streams in Chicago.

Increase in Gaming Revenues Seen Across the State

Some officials believe that the success of Bally’s Chicago mirrors a broader trend that has been seen across the state’s gaming industry. The Illinois Gaming Board reported a significant 16 percent increase in gaming revenues among the 15 casinos across the state, totaling $137.7 million in adjusted gross revenues for February.

Data shows that Rivers Casino Des Plaines came in as the market leader in February, generating $43.6 million in adjusted gross revenues and welcoming over 244,000 visitors. Bally’s closely followed in second place, achieving nearly $9.9 million in adjusted gross revenues and welcoming around 106,000 visitors. In addition, the company achieved a record $1.92 million in tax revenues during the month.

Despite this impressive data, Bally’s has set its sights even higher, according to recent reports. The corporation aims to seal the deal when it comes to its position as the leading casino operator in the city of Chicago.

The casino operator is aiming to generate around $243 million this year in adjusted gross revenues, which will see around $35 million go to the city. In addition, it will be able to achieve even more in terms of gaming and tax revenues once the $1.74 billion River West casino complex opens its doors. This opening is currently scheduled for 2026.