Bally's Pauses Portion Of Casino Project Amid City Dispute
Bally's Chicago is halting construction on parts of its casino complex due to a legislative dispute with the city.Summary
Bally's Chicago has issued a reset notice to the Chicago Community Builders Collective, pausing construction on the project's hotel, events center, and several restaurants. The company cited a dispute with the city regarding the legalization of video gambling terminals (VGTs) in the city's budget, arguing that this move violates the 2022 agreement and creates harmful uncertainty for the project's prospects.
While the casino's initial opening remains scheduled for early 2027, the conflict highlights tensions over the expansion of gaming in Chicago. Despite the pause, lender Gaming and Leisure Properties indicated that the potential impact of VGTs was already factored into their financing agreement. Bally's expressed concern for the 1,500 union tradespeople affected by the work stoppage and stated they hope to reach a resolution through discussions with the Mayor's Office and City Council.
(Source：Bisnow)