Bally's to Operate Chicago's First Casino

A day after she said that she hadn't already selected Bally's to run Chicago's first casino, Mayor Lori Lightfoot announced that Bally's had been selected to build and run Chicago's first casino.

The location will be at the former Chicago Tribune Publishing Center and will have 3,400 slot machines, 170 gaming tables, a 3,000 seat theater, 6 restaurants and 3 bars inside. It's expected that the casino will cost $1.7 billion, and will create 3,000 construction jobs as well as 3,000 permanent casino jobs when the location opens.

Bally's will be paying the city $40 million up front, with $4 million in payments per year thereafter.

Regarding the approval Bally's Chairman Soo Kim said, "We would like to thank Mayor Lightfoot and her office for conducting a tough, but fair, RFP process and selecting Bally's Chicago as the final bidder for the city's casino.

"Chicago is a unique and vibrant city, deserving of world-class gaming and entertainment destination that is of, by and for the people by driving the local economy, supporting local labour, creating multigenerational wealth for minority investors and showcasing the best of what the city has to offer.

"We look forward to continuing to work collaboratively with Mayor Lightfoot and all our valued community partners on this exciting endeavor."

Mayor Lightfoot also commented, adding: "We are confident Bally's Tribune Publishing Center development will shore up the City's pension funds, create thousands of well-paying jobs and lead to a bright financial future for our city." She will still need City Council and the Illinois Gaming Board to sign off on the deal."