{"id":273150,"date":"2023-05-11T18:05:28","date_gmt":"2023-05-11T23:05:28","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=273150"},"modified":"2023-05-12T13:06:12","modified_gmt":"2023-05-12T18:06:12","slug":"ballys-chicago-casino-wins-nod-from-city-planning-board","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/ballys-chicago-casino-wins-nod-from-city-planning-board\/","title":{"rendered":"Bally\u2019s Gets Green Light for Chicago Casino Plan, Construction Starting Late 2024"},"content":{"rendered":"

Bally\u2019s announced today the proposed site plans for its $1.7 billion casino hotel in Chicago were approved by the Chicago Department of Planning and Urban Development.<\/p>\n

\"Bally's
A new rendering of Bally’s Chicago. The company won approval for the project from the Chicago Department of Planning and Urban Development. (Image: Bally’s)<\/figcaption><\/figure>\n

The Rhode Island-based regional casino operator added that its Bally\u2019s Chicago project will bring more than 3,000 permanent jobs to the city, and construction will commence in late 2024. The venue will be the operator\u2019s most expensive project to date.<\/p>\n

The development is a fusion of green space, arts and entertainment spaces, and exclusive hospitality areas. The iconic form of the hotel tower, which includes a spa and food and beverage venues, anchors the master plan at the north end of the site and features a shimmering facade that reflects and responds to the movement of the nearby Chicago River,\u201d<\/strong> according to a statement.<\/p><\/blockquote>\n

The Illinois Gaming Board (IGB) must approve Bally\u2019s application before the company can commence gaming operations at the venue.<\/p>\n

Bally\u2019s Chicago Casino Plan Gaining Pace<\/h2>\n

News of the Department of Planning and Urban Development approval arrived just days after Bally\u2019s reached an agreement with Tribune Publishing<\/a> on the Freedom Center — the 30-acre riverfront property on which Bally\u2019s Chicago will reside.<\/p>\n

\n

Under the terms of that accord, Bally\u2019s will deliver cash payments to the media company to expedite its departure from Freedom Center to July 2024. Last November, Bally\u2019s paid $200 million for that real estate. The casino operator later sold the property assets to a private equity firm in a $500 million sale-leaseback transaction<\/a> to raise capital for the Chicago casino effort. Bally\u2019s retained the right to eventually repurchase the land.<\/p>\n<\/div>\n

In the meantime, Bally\u2019s expects to open a temporary casino at Medinah Temple this summer. Earlier this week, Bally\u2019s President George Papanier said in a statement that both projects are on schedule and on budget.<\/p>\n

The temporary venue is important for the operator in terms of building a database of customers, and vital to Chicago\u2019s revenue-generating interests.<\/p>\n

\u201cThe project provides Bally’s with the exclusive right to operate a temporary casino for up to three years while the permanent casino resort is constructed. Bally’s Chicago will be the first fully integrated casino resort in the center of a major city within the United States,\u201d the gaming company added in the statement.<\/p>\n

Bally\u2019s Courting Community<\/h2>\n

Bally\u2019s isn\u2019t shy about its efforts to generate goodwill in the Chicago community. Earlier this week, the gaming company filed plans<\/a> with the Securities and Exchange Commission (SEC) for an initial public offering (IPO) tied to the Windy City casino.<\/p>\n

\n

Financial terms of the offering haven\u2019t been set. But the gaming company pledged to sell up to a 25% interest in the project to various stakeholders, including \u201cphilanthropists, business owners, sports stars, celebrities, and everyday Chicagoans from the Black and Latino communities, as well as other ethnic and gender representation,\u201d according to Bally\u2019s website.<\/p>\n<\/div>\n

With 10,500 employees, Bally’s currently operates 15 gaming venues in 10 states.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bally\u2019s announced today the proposed site plans for its $1.7 billion casino hotel in Chicago were approved by the Chicago Department of Planning and Urban Development. The Rhode Island-based regional casino operator added that its Bally\u2019s Chicago project will bring more than 3,000 permanent jobs to the city, and construction will commence in late 2024. […]<\/p>\n","protected":false},"author":46,"featured_media":273151,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810,13592],"tags":[81897,81898,81895],"acf":[],"yoast_head":"\nBally's Chicago Casino Wins Nod From City Planning Board<\/title>\n<meta name=\"description\" content=\"Bally's Chicago casino pans wins approval from city planning board.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/ballys-chicago-casino-wins-nod-from-city-planning-board\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bally's Chicago Casino Wins Nod From City Planning Board\" \/>\n<meta property=\"og:description\" content=\"Bally's Chicago casino pans wins approval from city planning board.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/ballys-chicago-casino-wins-nod-from-city-planning-board\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-11T23:05:28+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-05-12T18:06:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/05\/bc3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"840\" \/>\n\t<meta property=\"og:image:height\" content=\"560\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/ballys-chicago-casino-wins-nod-from-city-planning-board\/\",\"url\":\"https:\/\/www.casino.org\/news\/ballys-chicago-casino-wins-nod-from-city-planning-board\/\",\"name\":\"Bally's Chicago Casino Wins Nod From City Planning Board\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/ballys-chicago-casino-wins-nod-from-city-planning-board\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/ballys-chicago-casino-wins-nod-from-city-planning-board\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/05\/bc3.jpg\",\"datePublished\":\"2023-05-11T23:05:28+00:00\",\"dateModified\":\"2023-05-12T18:06:12+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Bally's Chicago casino pans wins approval from city planning board.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/ballys-chicago-casino-wins-nod-from-city-planning-board\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/ballys-chicago-casino-wins-nod-from-city-planning-board\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/ballys-chicago-casino-wins-nod-from-city-planning-board\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/05\/bc3.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/05\/bc3.jpg\",\"width\":840,\"height\":560,\"caption\":\"A new rendering of Bally's Chicago. 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