Bally’s Faces Challenges in Chicago, Las Vegas, and New York

Bally's Corporation is grappling with significant challenges at its major U.S. developments, facing regulatory issues in Chicago, financial concerns in Las Vegas, and strict deadlines for its ambitious New York resort. The company has received an extension for its temporary casino license in Chicago, where construction is underway for its $1.8 billion permanent facility. The recently approved city budget projects that licensing video gaming terminals (VGTs) will yield around $6.8 million, with nearly 300 venues already applying to host these machines. Bally's is strongly opposed to this initiative, arguing that the introduction of city-wide VGTs could lead to an annual revenue loss of nearly $75 million and the elimination of about 1,000 jobs at both its temporary and permanent casinos. Christopher Jewett, Bally's Senior Vice President of Corporate Development, stated, 'We believe one lounge can generate approximately $5 million in actual gaming and admission taxes, which go directly to the city. This alone can replace the revenue in question.' The company claims that had they anticipated the city's allowance of additional gambling forms, they would not have purchased their current site or made the commitments based on their host community agreement. In Las Vegas, Bally's is also facing pressure with their $1.2 billion Mixed-Use Development project, which is situated next to the future MLB stadium for the Oakland Athletics. Executives have indicated that the hotel and casino sections of the project are unlikely to open in time for the stadium's debut in Spring 2028. Despite these setbacks in Chicago and Las Vegas, Bally's is pressing forward with its $4 billion integrated resort project in the Bronx after obtaining one of New York's highly competitive downstate casino licenses.