Bally’s Chicago revenues flat for November at $7.6 million

Bally’s Chicago Revenues Hold Steady as Casino Awaits Approval to Expand Operation

Bally’s Chicago saw flat revenues in November, marking its third month of operation at the Medinah Temple, where it is currently awaiting approval from the Illinois Gaming Board to expand to a 24/7 schedule.

The temporary casino at Medinah Temple brought in just over $7.6 million in adjusted gross receipts last month, matching the revenue totals from October. The casino hosted 86,459 visitors in November, which was an increase of over 3,000 from the previous month.

Despite these numbers, the Chicago casino ranked fourth in revenue and second in admissions in November among the state’s 15 casinos, with Rivers Casino Des Plaines leading the way with $43.5 million in adjusted gross receipts and 249,000 admissions, according to Gaming Board data.

Statewide casino revenue saw a $1.3 million increase to $130.4 million for the month.

A Bally’s spokesperson expressed satisfaction with the Business, stating, “This is our third month in operation and we are pleased that Business continues to build steadily.”

Rhode Island-based Bally’s won a competitive bid last year over four other proposals to build a $1.74 billion casino at the 30-acre Freedom Center printing plant site in River West. The permanent casino is expected to open in 2026.

The temporary casino, which opened on September 9th at the 130,000-square-foot Medinah Temple, a landmarked 111-year-old Moorish-style amphitheater in River North, has since generated nearly $21.9 million in adjusted gross receipts. This has resulted in about $2.8 million in state tax revenue and more than $2.2 million in local tax revenue over three months, according to Gaming Board data.

The temporary casino was initially projected to generate over $100 million in adjusted gross receipts this year, with the city expecting to receive nearly $70 million from the casino in 2023. However, Bally’s reduced projections to between $15 million and $25 million in adjusted gross receipts for the temporary casino this year, as the launch was postponed to September.

The temporary casino is expected to increase revenues as its offerings expand, including a planned sportsbook down the road. Bally’s Chicago, which is currently open 20 hours per day, is also waiting for approval from the Gaming Board to operate full time like Rivers Casino and other established venues. Additionally, the casino is seeking approval from the city to implement valet parking to ease customer visits.

Historic Background:
The Medinah Temple, where Bally’s temporary casino is located, is a 111-year-old Moorish-style amphitheater in River North that once hosted the annual Shrine Circus. Bally’s spent about $50 million to renovate the building, which now houses nearly 800 slot machines, 56 gaming tables, an expansive center bar, two restaurants, and a coffee shop.

In conclusion, Bally’s Chicago continues to navigate its position in the local casino market and is anticipating further growth and expansions as it awaits approvals and implements new offerings. For more information, contact rchannick@chicagotribune.com.