Poker Writer
Bally’s Corporation insisted that its River West Chicago Casino project is fully funded and safe in the wake of financial concerns and recent developments. Bally’s said it is pursuing financial alternatives to provide itself with greater liquidity.
The recent concerns over the company’s financial state are related to future projects, according to Bally’s and are not associated with the casino project in Chicago.
Bally’s released a full statement:
There has been no change to the status of Bally’s Chicago’s construction based off the company’s most recent 10-Q filing. Bally’s Chicago remains well situated to continue delivering on its obligations. The going concern disclosure is based on a forward-looking technical accounting analysis which considers only funding that has been unconditionally secured as of the date of the assessment.
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Response to Construction Halt
Concerns started to grow with the Bally’s casino when construction was halted on all aspects of the project except the casino itself. The stoppage was due to Bally’s being unhappy withe the city of Chicago legalizing video gaming terminals, something that would be a direct hit to the casino’s bottom line.
Even though the city downplayed the threat of the VGTs to Bally’s, the gambling and entertainment company remains unconvinced:
We continue to stand ready to engage in open, honest and collaborative conversation about the risks to the City’s finances, police and fire pension funds, union jobs and public safety because of the legalization of video gambling terminals (VGTs).
The city has insisted to Bally’s that they have a contract to finish the casino. Regardless, the halt to construction could postpone the 2027 opening timeline.
Bally’s to ‘Bring Las Vegas’ to Chicago
Bally’s still states on its official website that it will open the River West casino in early 2027. Renderings of the design show it on the Chicago River West riverwalk and promote “bringing Las Vegas to Chicago.”
Bally’s has high hopes that the casino will instantly become one of the top ones in the Chicago area. It will compete with Rivers Casino in Des Plaines and the newly completed Hollywood Casino in Aurora.
The Chicago-area market has become increasingly saturated with gambling options in recent years. Some suburbs have even begun allowing sweepstakes machines.
