Chicago's Casino Future: How the Bally's Tribune Tower License Will Reshape Midwest Gaming

Chicago is finally getting a real casino. Bally's won the city's first commercial license in 2022. The temporary Medinah Temple location operates now; the permanent tower at the former Tribune Tower site will open 2026-27.

For decades Chicago has been one of the largest US metros without a commercial casino. The city legalized casino gaming in 2019 (after the state legislature approved a Chicago-specific license). Bally's won the bid in May 2022 over Hard Rock, Rivers, and other applicants. Chicago is finally getting a casino.

Illinois legalized riverboat gambling in 1990 — but specifically excluded Chicago. The state lawmakers from Chicago wanted a casino but the suburban Republican legislators who controlled the state house blocked it for decades.

The 2019 legislation finally authorized a Chicago casino license, plus six additional commercial licenses around the state. Chicago's license terms required:

• 3,000 slots minimum
• 500 hotel rooms minimum
• $40M+ annual revenue commitment to Chicago
• Local hiring and minority/women-owned business participation requirements

Major bidders for the Chicago license:

• Bally's Corporation: proposed Tribune Tower / 777 W Chicago Ave (River West)
• Hard Rock: proposed One Central in South Loop
• Rivers Casino: proposed McCormick Place
• Bally's also had a backup bid at the Pulaski tract

In May 2022, the Lori Lightfoot administration selected Bally's. The decision was controversial; legal challenges from Hard Rock continued for over a year.

While the permanent property is being built, Bally's operates a temporary casino at the historic Medinah Temple in River North (open since September 2023). The temporary location:

• ~78,000 sqft casino floor
• ~1,000 slots
• 56 table games
• No hotel
• 24/7 operating hours

The temporary location's revenue has been significant (~$130M annualized in 2024, well below the eventual permanent property's projected revenue but a strong start).

The permanent Bally's Chicago is being built at 777 W Chicago Ave (former Tribune Publishing site). The plan:

• 500-room hotel tower
• 3,000+ slot machines
• 170 table games
• 3,000-seat theater
• 6 restaurants
• Riverwalk integration with the Chicago River

Construction began in 2023. Opening was originally planned 2025; construction delays have pushed to 2026-27.

Chicago metro gaming pre-2023:

• Rivers Casino Des Plaines (suburban, opened 2011): $450M annual revenue, the dominant Chicago-area casino
• Smaller Illinois suburban properties (Hollywood Aurora, Hollywood Joliet, Harrah's Joliet, Grand Victoria Elgin)
• Tribal casinos (Four Winds in Michigan, ~90 minutes east)

The Bally's Chicago temporary location took share from Rivers Des Plaines starting in 2023. The permanent property will accelerate this.

Industry projections:

• Bally's Chicago annual revenue at full operation: $500-700M
• Rivers Des Plaines may lose 10-20% of its revenue to Bally's
• Smaller suburban Illinois properties may be more affected

Bally's Rewards (the Bally's Corporation loyalty program) will be the operative program. It does NOT cross-pool with Caesars Rewards (despite Bally's brand history).

For Caesars Rewards members in Chicago: Harrah's Joliet remains the closest Caesars-network casino. The new Bally's will not give Caesars regulars access via existing tier credits.

Once the permanent property opens (2026-27), Bally's Chicago will be a destination property in the Midwest casino market. For visitors to Chicago who want a casino on their itinerary, it'll be the obvious choice.

For Chicago residents: Bally's becomes the natural casino option. The Rivers Des Plaines drive becomes optional rather than necessary.

For our broader Midwest take: Detroit, Pennsylvania.

Topics

• chicago
• bally
• illinois
• industry

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