Bally’s Corporation reasserts commitment to $1.7 billion permanent Chicago casino despite VGT dispute, declaring construction continues as planned.

Bally’s Chairman Soo Kim reports that approximately 1,000 skilled tradespeople are currently working on the project and that the casino is expected to open in early 2027, with some adjustments in the development process.

Previous announcements in August indicated a slowdown in non-gaming construction elements due to Chicago’s decision to allow VGTs.

Kim emphasized the company’s deep commitment to Bally’s Chicago and addressed rumors of construction halts, confirming that work is ongoing with the help of skilled tradespeople.

Bally’s President and interim CFO George Papanier noted that the company will focus on completing the event center, hotel rooms, and food and beverage components by early 2027, with plans for a 500-room hotel.

The company is reevaluating 12% of planned amenities due to the potential impact of VGTs, including a theater, convention space, restaurants, bars, and public greenspace.

Papanier expressed concerns about the potential impact of VGT proliferation, estimating a 30% to 50% revenue reduction if VGTs become widespread. Construction adjustments will be made based on this analysis.

Bally’s has fulfilled its $4 million annual community impact fee to Chicago, split into direct and indirect impact fees, on September 9.

While Chicago authorized VGTs in its 2026 budget, Bally’s argues that the Host Community Agreement restricts new forms of gambling, leading to a contractual dispute with the city under the Illinois Video Gaming Act.

Kim reaffirmed the company’s commitment to Chicago, highlighting actions to protect their investment and fulfill contractual obligations.

Separately, Bally’s secures $560 million financing from WhiteHawk Capital Partners for the $4 billion Bally’s Bronx project and corporate purposes, with expectations for closing in the third quarter of 2026 and aiming for a 2030 opening.