Bally's Chicago casino project faced a significant challenge this year as its temporary license was set to expire on September 9. Without an extension from the state legislature, the temporary facility would have had to shut down before the permanent casino was completed, which is projected to open in early 2027. This could have left a gap of several months without income in the market.
The issue has been resolved in the final hours of Illinois' legislative session, with extension language included in the state's 1,600-page omnibus revenue bill, SB3019. This legislation passed both chambers on June 1, and it is now awaiting the signature of Governor JB Pritzker.
If signed, the bill would allow Bally's an extension of its temporary license, moving the expiration date to September 9, 2027.
The bill states that the Illinois Gaming Board (IGB) "may extend the period during which the licensee may conduct gaming at a temporary facility by up to 18 months, and the board may authorize no more than two additional three-month extensions". While state law typically permits two-year temporary licenses, Bally’s had already received a 12-month extension this year, which extended its license to three years.
Taking into account time already spent operating, Bally’s could receive a maximum of 12 more months if both three-month extensions are granted. Both Bally's and the IGB confirmed the extension's passage but did not provide further comments.
A standalone bill seeking this same extension, HB4437, was filed expressly for the Chicago casino project. Introduced in January, it failed to gain traction and did not move past the House Rules committee, where it remained since March 27. This bill was authored by Representative Kam Buckner, who was not involved in the revenue bill.
When the initial bill was proposed, Bally's stated that an extension "provides operational certainty and allows Bally’s Chicago to remain fully compliant with its Host Community Agreement with the City of Chicago, ensuring uninterrupted service for guests, continued employment for team members, and ongoing economic contributions to the City."
Buckner expressed concerns at the time, suggesting the situation was precarious and stating that "the whole thing may be in jeopardy" and that it was "fair and healthy to have doubts" regarding Bally’s ability to meet the September deadline.
Another significant player in this project is Gaming and Leisure Properties, which provided $940 million in construction financing and purchased the real estate for $250 million. The REIT indicated earlier in the year that "an extension of the temporary licence is not impactful, in any way, to GLPI."
With the extension in place, Bally's can now focus on constructing the $1.8 billion permanent casino. The process, however, has encountered challenges; the temporary casino at Medinah Temple has underperformed against budget expectations.
Bally's has faced two work stoppages since construction began—one due to debris overflow into the Chicago River and another involving unapproved contractors linked to organized crime. Additionally, the company had to revise its hotel design to address potential conflicts with city water lines.
Until recently, Bally's had not publicly acknowledged the risk of missing the September deadline. Last month, Chairman Soo Kim confirmed this possibility at a topping-off ceremony, stating the project would be complete "early next year." At that point, the extension had yet to be finalized, but Kim expressed confidence in achieving favorable outcomes in Springfield.
Initially seen as Bally's flagship property, the Chicago casino has taken a backseat amid the company’s rapid developments. In addition to securing the Chicago license, Bally's has also acquired a license for a $4 billion golf course and resort in the Bronx, New York City, and is advancing on a $1.19 billion project on the Las Vegas Strip near the A's baseball stadium.
Bally's expansion isn't limited to the U.S.; since early 2025, the company has taken majority stakes in Star Entertainment and Intralot and has entered into an all-share deal valued at $325.2 million for Evoke.
