By
Jane Shaw
Senior Editor Updated: 06/24/2024
We count on Jane to inform our readers about the latest slot games in the US market. With her passion for video games and a degree in engineering, she’s our gambling tech expert. Jane’s also active in our blog section, where she tackles the curiosities and changes in the industry.
Casino Revenue at Bally’s Chicago Hits Impressive Highs
According to recent reports, Bally’s temporary casino in Medinah Temple has reported unprecedented revenue highs for the month of May. Data from the Illinois Gaming Control Board shows that the casino raked in an impressive $11.73 million in revenue over the course of the month. Slot machines contributed $6.98 million to the total while table games added another $4.75 million.
This milestone marks the highest monthly revenue achieved by Bally’s Chicago casino since it opened in September last year. The facility spans 35,000 square feet and boasts 800 slot machines along with 56 live dealer table games, providing an exciting gaming experience in the heart of the city.
Mark Wong, Vice President and General Manager, said:
Our continued growth demonstrates Bally’s Chicago’s popularity with locals and tourists alike, aligns with our community engagement initiatives, and supports our dedication to responsible gaming.
He added that the casino was continuing to welcome new players who wanted to join the rewards program. Wong also reported that the number of people enrolling last month came to more than 90,000.
Despite this recent success, Bally’s is said to have been operating below the revenue projections initially set by both city officials and the company itself prior to its launch.
The temporary venue will continue operations as Bally’s Corporation moves forward with plans to develop its permanent integrated resort at the Freedom Center site. Bally’s is expected to take ownership of the former Chicago Tribune printing plant next month and aims to open the doors to its grand casino and resort complex by September 2026.
The ambitious $1.7 billion project is set to transform downtown Chicago’s entertainment landscape. It will boast a 500-room hotel, a 3,000-seat theater, a range of dining establishments, and a sprawling casino floor with 4,000 gaming positions.
Upon completion, Bally’s Chicago will become the state’s largest casino, which could mean a huge economic impact and exciting new entertainment for locals and visitors.
Securing funding continues to be a challenge for Bally’s, according to reports. The company is seeking around $800 million to support the development plans. Despite financial hurdles, company officials remain optimistic and have said that the project is still on schedule for its projected opening.
The recent revenue surge in May comes as encouraging news amid Bally’s ongoing efforts to meet financial targets. The casino was originally expected to generate $242.7 million in revenue for 2024, equating to around $20.22 million a month. So far, the casino generated $52.36 million between January and May. This averages around $10.47 million monthly.
Bally’s acquisition of the Freedom Center will mean huge changes for the iconic Chicago landmark. Following a $150 million transaction with Tribune Publishing, Bally’s now plans to prepare the site for demolition, clearing the way for its permanent casino resort development.
The Freedom Center opened in 1982, and it was a printing hub for several major newspapers. This included the Chicago Tribune, Chicago Sun-Times, Chicago Reader, and The New York Times’ Midwest distribution.
Jane ShawNovember 06, 2024Read More
Jane ShawNovember 04, 2024Read More
Jane ShawNovember 01, 2024Read More
Jane ShawOctober 30, 2024Read More