Bally’s Chicago casino reaches full height as $1.7B riverfront project nears completion

Chicago’s long-running casino project hit a visible turning point Thursday, as Bally’s raised the final steel beam on its permanent riverfront complex, bringing the structure up to full height after years of delays.

From delays to progress: a project years in the making

The moment unfolded at the former Freedom Center printing site, a 30-acre property in River West now being reshaped into a $1.7 billion entertainment destination along the Chicago River. Bally’s Chairman Soo Kim acknowledged the uneven path to reach this stage, telling those gathered, “We had some fits and starts. We’re going to be done early next year. We’re excited to finish it all up.” A mix of current and former city leaders attended, including Mayor Brandon Johnson and former Mayor Lori Lightfoot, alongside hundreds of construction workers standing among cranes and active machinery.

What the $1.7 billion development will include

With the topping-off complete, the project’s core structures now stand fully upright. That includes a 34-story hotel tower and the main casino building. Plans call for a 500-room hotel, a 3,000-seat theater, an exhibition hall, 10 restaurants, and 4,000 gaming positions, making it the largest casino in Illinois.

Opening timeline pushed to 2027

Chicago picked Bally’s in 2022 after a competitive bid, originally targeting an early 2026 opening. That timeline slipped as the project ran into multiple issues. Demolition was paused after debris spilled into the river, and regulators later halted work due to an unauthorized waste hauler. Engineers also forced a redesign when foundation plans raised concerns about nearby water infrastructure, prompting the relocation of the hotel tower. Bally’s now says the permanent site should open in the first quarter of 2027, aligning with a revised state deadline that allows operations at the temporary Medinah Temple casino through September of that year.

Bally’s growth strategy and financial momentum

The Chicago development comes as Bally’s reports stronger financial performance tied to expansion efforts. The company recently posted a jump in quarterly revenue, driven in part by growth across its casino portfolio and ongoing investments in major projects like Chicago. That broader momentum has helped position the riverfront development as a centerpiece of its long-term strategy.

Economic stakes for Chicago

For Chicago, the financial expectations remain high. The temporary casino generated $15.9 million in local taxes last year, falling short of projections. Officials are counting on the permanent complex to bring in more than $100 million annually.

“The casino, the hotel, entertainment venue and restaurants are anticipated to generate more than $100 million in new revenue every year,” Johnson said. “The revenue will support our police and fire pensions and our ongoing efforts to build a more equitable, safe and affordable Chicago where every community has the opportunity to thrive.”

Rising casino competition across Illinois

Competition across Illinois has intensified, with new and expanded casinos opening statewide. Kim said Bally’s is aiming to draw visitors well beyond the region.

I think this is a game changer,” Kim said. “The city wanted a facility that would actually compete… for the 50 million-plus tourists that come to Chicago. There’s nothing like this in the Chicagoland area.”

A long-term legacy for the city

As the signed beam topped with an American flag was lifted into place, Lightfoot reflected on the project’s long-term impact. “This is so important to the financial future of our city, which is why I personally fought so hard to make this happen,” Lightfoot said. “It’s not like birthing a child, but it’s pretty damn close. This is a lasting legacy for the city.”

Featured image: Max Bender/Unsplash

The post Bally’s Chicago casino reaches full height as $1.7B riverfront project nears completion appeared first on ReadWrite.