Bally's temporary casino in Chicago makes over $10 million, reports say

Quick Intro

Bally’s temporary casino, located in the historic Medinah Temple building in Chicago’s bustling River North area, is off to a robust start in the New Year. The establishment has reported a significant milestone, achieving over $10 million in gross gaming revenue for January. This figure marks a considerable increase of $6.8 million from its inaugural month in September and shows a 9.1 percent improvement compared to December’s revenue. Remarkably, Bally’s temporary venue in Chicago emerged as the company’s sole property in Illinois to register month-over-month revenue growth, even amid challenging weather conditions. The casino attributes its success to strategic offerings like complimentary parking and shuttle services that have evidently bolstered its growth.

Bally’s Recent Performance Highlights

Bally’s recent report sheds light on the promising trajectory of its temporary casino in Chicago, situated within the Medinah Temple. “We’re thrilled with the January results, marking our best month for gaming revenue thus far. The increase in visitors is a testament to the appeal of our free parking and shuttle services, which have become increasingly popular,” stated Mark Wong, the Vice President and General Manager of Bally’s Chicago. He also highlighted plans to enhance customer experience further with the introduction of valet parking, additional shuttle and bus routes, and the creation of exclusive VIP areas to cater to evolving visitor demands. Since its opening in September, the casino’s monthly gross gaming revenue has surged from $6.8 million to $10.8 million, with admissions exceeding 88,000, positioning it as the second most visited in the state.

Furthermore, Bally’s prides itself on its diverse and local workforce, employing over 620 individuals, 82 percent of whom are minorities, more than half are women, and 63 percent are Chicago residents, reflecting the company’s commitment to community engagement and diversity.

Financial Outcomes and Future Prospects

Despite the positive revenue trend, the casino’s profits in the initial three months were below expectations. January figures from the Illinois Gaming Board indicate that the casino generated $30 million in profit during this period, with the city receiving $3.1 million. This outcome fell significantly short of the anticipated $12.8 million for the city, resulting in a $9.7 million deficit for funds intended for Chicago’s police and fire pensions.

Looking ahead, Bally’s is gearing up to commence construction on its permanent facility in River West later in the year, with an opening slated for 2026. This new development is poised to further solidify Bally’s position in the Illinois gaming landscape and contribute to the local economy.

Source: https://www.cbsnews.com/chicago/news/ballys-reports-revenue-temporary-chicago-casino/