Bally’s Chicago To Begin Construction On Permanent Casino In 2024

The unveiling timeline for Bally’s Chicago, Illinois’ largest casino, has become more defined. The Chicago Tribune has agreed to vacate the Freedom Center printing press by July 2024. Once the Tribune relocates, the building will be demolished to make room for the casino.

Tribune Publishing had the opportunity to extend their lease at the Freedom Center for another decade, but Bally’s has chosen to hasten their exit by providing monetary incentives. The exact amount of the agreed-upon payment has not been revealed.

Bally’s plans to demolish the soon-to-be empty Freedom Center in the summer of 2024 and begin construction the next year. This will clear the path for the anticipated opening of Bally’s Chicago, which is slated to be the biggest casino in Illinois by 2026.

Getting up to speed with Bally’s pursuit of the Freedom Center

Bally’s and Tribune Publishing have been in negotiations for months regarding the newspaper company’s exit from the Freedom Center. A major development has occurred, with a timeline now set for vacating the River West site.

In November 2022, Bally’s purchased the printing press buildings previously owned by Nexstar Media, the parent company of Tribune Publishing, for $200 million. Following the acquisition, Bally’s quickly sold the property to a Chicago-based real estate firm for $500 million, who then leased it back.

In February, Bally’s issued an eviction notice to the newspaper company. Soo Kim, Bally’s chairman, proposed to Chicago officials that the location of Bally’s be relocated to preserve the printing press site as a tourist attraction, according to the Chicago Tribune. Despite Kim’s suggestion, lawmakers rejected the proposal, prompting Bally’s to proceed with tearing down the Freedom Center.

Bally’s plans to invest $1.74 billion in a Chicago casino project that will include a 500-room hotel. The casino is expected to have 3,400 slot machines, 170 table games, and 10 bars and restaurants, along with various entertainment options.

Bally’s temporary casino coming soon

Chicago’s mega-casino is scheduled to open in 2026, but in the meantime, Bally’s will be opening a temporary casino this summer for Illinois residents and tourists to get a preview of what’s to come.

Originally, the temporary casino was supposed to be placed at the future permanent site of Bally’s. However, it will now be situated at the Medinah Temple, which is less than a mile east of the Tribune printing press.

During a meeting in February, the Illinois Gaming Board unanimously approved licenses for the organizations intending to establish a casino at Medinah Temple. However, Bally’s stipulated that construction must be finished before the temporary casino can open to the public.

Once Bally’s casino at Medinah Temple opens, it will be a 24/7, three-story facility offering 800 slot machines, 50 table games, and a restaurant and bar for gamblers to enjoy.