Bally’s Faces Increased Challenges in Major U.S. Projects

Bally's Corporation is encountering significant obstacles in its major U.S. projects, which include regulatory issues in Chicago, financial uncertainties in Las Vegas, and tight construction schedules for a large resort in New York. In Chicago, Bally's temporary casino license has been extended while work progresses on its permanent property, which is estimated to cost $1.8 billion. According to the approved city budget, the licensing of video gaming terminals (VGTs) could yield around $6.8 million, with nearly 300 venues applying to host these machines. Bally's opposes this initiative, citing concerns that city-wide VGT implementation could result in a loss of nearly $75 million annually in revenue and 1,000 job losses across 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." Bally's contends that if they had anticipated the city's allowance of additional gambling forms, they would not have purchased their current site or made investments based on their host community agreement. In Las Vegas, Bally's faces additional challenges with its $1.2 billion Mixed-Use Development project, positioned near the future Major League Baseball stadium for the Oakland Athletics. Executives have indicated that they do not expect the hotel and casino elements of the project to be completed by the MLB stadium's scheduled opening in Spring 2028. Despite the difficulties in Chicago and Las Vegas, Bally’s is moving forward with its ambitious $4 billion integrated resort project in the Bronx, having secured one of New York’s coveted downstate casino licenses.