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Chicago: Bally’s gains full control of casino property

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2024-07-05

Chicago: Bally’s gains full control of casino property

Bally’s took a small logistical step forward Friday when it obtained full control of the Tribune Publishing Plant grounds, where it plans to build its $1.7 billion casino in the River West neighborhood of downtown Chicago.

Bally’s, which has been operating its temporary casino at nearby Medinah Temple in River North since last September, originally reached an agreement with Alden Global Capital in May 2023 to buy out the lease for the property at 777 W. Chicago Ave. Bally’s had previously purchased the 30-acre parcel of land for $200 million, and the Chicago Tribune had been publishing its newspaper there since 1981.

The Rhode Island-based gaming company faces a tight timeline to open its permanent venue by September 2026 and has recently come under increased scrutiny from both Chicago Mayor Brandon Johnson and other local aldermen.

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