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

The timeline for the unveiling of Illinois’ largest casino, Bally’s Chicago, is now clearer. The Chicago Tribune has agreed to vacate the Freedom Center printing press by July 2024. Following the Tribune’s relocation, the building will be demolished to pave the way for the casino.

Tribune Publishing had the option to stay at the Freedom Center for an additional 10 years. However, Bally’s has decided to expedite their departure by offering cash payments. The agreed-upon sum has not been disclosed.

Bally’s is projected to demolish the soon-to-be vacant Freedom Center in summer 2024 and commence construction the following year. This paves the way for the expected opening of Bally’s Chicago, set to become the largest casino in Illinois, by 2026.

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

Negotiations between Bally’s and Tribune Publishing regarding the newspaper company’s departure from the Freedom Center have been ongoing for months. A significant step has now been taken, and a schedule has been established for the River West site to be vacated.

In November 2022, Bally’s acquired the printing press buildings from Nexstar Media, the company that holds ownership of Tribune Publishing, for a sum of $200 million. Shortly after the purchase, Bally’s sold off the property. A real estate firm based in Chicago bought the land for $500 million and then leased it back.

Bally’s served an eviction notice to the newspaper company in February. Soo Kim, Bally’s chairman, suggested to Chicago officials that the location of Bally’s could be moved, in order to maintain the printing press site as a tourist attraction, as reported by the Chicago Tribune. However, lawmakers did not approve of Kim’s proposal, leading Bally’s to go ahead with the plan to tear down the Freedom Center.

Bally’s is set to invest $1.74 billion in a Chicago casino project, which encompasses a hotel with 500 rooms. It is anticipated that the casino will feature 3,400 slot machines, 170 table games, and 10 bars and restaurants. A range of entertainment facilities will also be included.

Bally’s temporary casino coming soon

Chicago’s mega-casino will not be open to Illinois residents and tourists until 2026. However, Bally’s is set to launch a temporary casino sometime this summer, providing Chicago’s gambling enthusiasts with a sneak peek of what to expect in a few years.

The initial plan was to situate the temporary casino at the future permanent location of Bally’s. However, it will now be located at the Medinah Temple, less than a mile east of the Tribune printing press.

In February, the Illinois Gaming Board unanimously agreed to supply licenses to the groups planning to open a casino at Medinah Temple. However, Bally’s required construction work must be completed before the temporary casino can begin welcoming guests.

When Bally’s casino at Medinah Temple commences operations, it will be a round-the-clock, three-story complex. Gamblers will have access to 800 slot machines, 50 table games, as well as a restaurant and bar.