Bally’s Chicago Hits $10M Milestone in Gaming Revenue

Bally’s Temporary Casino in Chicago Surpasses $10 Million in Gaming Revenue in January

Bally’s had an excellent start to the new year, particularly at their temporary casino in Chicago. The casino, located at the Medinah Temple building in River North, Chicago, achieved its best results since opening in September 2023. According to a report, the casino surpassed the significant milestone of $10 million in gross gaming revenue in January, which was $6.8 million more than in September and 9.1% more than in December. This success is especially notable given the poor weather conditions that affected other Chicago casinos and prevented them from achieving revenue growth. Bally’s Chicago casino was the only one in Illinois to record a significant increase in revenue compared to the previous month.

The success of the casino can be attributed to various amenities, including free parking for all vehicles and a shuttle service, which has helped facilitate its rapid growth. Mark Wong, Vice President and General Manager of the Chicago casino, expressed his satisfaction with the phased opening of the property and stated that January was the highest month for gaming revenue to date.

Despite the impressive gaming revenue, the first three months of operations were challenging. The casino’s profit was lower than expected, with the Illinois Gaming Board reporting a profit of $30 million, of which the city earned $3.1 million in three months. This fell short of the city’s expected earnings of $12.8 million, leading to a $9.7 million deficit. These earnings were intended to fund the city’s police and fire pensions.

However, Bally’s new casino has positively impacted the area, employing over 620 employees, 82% of whom are minorities, more than 50% are women, and 63% are residents of Chicago. This demonstrates the company’s commitment to diversity and its positive impact on the local community.

Looking ahead, the construction of the permanent casino site is set to begin later in 2024, with plans for a location in River West and an opening in 2026. If the temporary casino’s success is any indication, the permanent site is poised for further achievement.