Bally’s Corp. said construction of its permanent Chicago casino is continuing, with the $1.7 billion project still on track to open in early 2027.
Chairman Soo Kim and Wanda Wilson, who leads the Bally’s Chicago board, addressed the project during an eight-minute conference call Monday after reports raised questions about the pace of construction, Chicago Construction News reported.
Kim said the company remains committed to the project and confirmed that construction is continuing. “There have been inaccurate reports suggesting that construction has been stopped or paused,” he said. “Construction continues every day, and there are approximately 1,000 skilled tradespeople working on the construction of the permanent Bally’s Chicago resort.”
The update follows Bally’s decision in August to reassess the timing of some non-gaming components after Chicago legalized video gaming terminals (VGTs).
The company told Chicago in July that VGT legalization was “a violation of the terms and economic undertakings of the host community agreement we signed with the city of Chicago.” It later notified its contractor that it was reviewing the phasing of some non-gaming elements.
“Bally’s took these actions because our responsibility is clear,” Kim said. “We are acting to protect our investors, to preserve the value of Bally’s Chicago, and to ensure the commitments that underpin this investment and our agreement with the City of Chicago are honored.”
“We remain fully committed to Chicago,” he added.
The permanent casino is being built at 560 W. Grand Ave. on the former Chicago Tribune Freedom Center site. Bally’s placed the final structural beam on the casino and hotel complex in April.
The company discussed the revised construction plans at a Chicago City Council License Committee hearing on Sept. 9.
George Papanier, Bally’s President and Interim CFO, said the resort is expected to open with an event centre, 100 hotel rooms, and the food and beverage facilities required under the project agreement. The hotel is ultimately expected to expand to 500 rooms.
About 12% of the development’s other planned amenities are being reviewed because VGTs could affect casino revenue. The facilities under consideration include additional hotel capacity as well as entertainment and hospitality offerings.
Bally’s has stressed that the review involves changing the order in which certain facilities are delivered, rather than suspending construction.
The company also plans to offer investors and shareholders tours of the construction site to provide an update on the project’s progress.
The casino was originally due to open in 2026 before the target was moved to spring 2027. Work is continuing on the resort’s main components while the company determines when to deliver the remaining non-gaming facilities.