Bally's moves forward with downtown Chicago casino project (NYSE:BALY)
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Chicago is finally in line to get a casino after a 30-year wait with Bally's Corporation (NYSE:BALY-11.6%) being picked as the sole license holder for a casino to be built on the site of the Tribune Publishing Center.
Bally's (BALY) beat competing downtown Chicago casino bids from Hard Rock International and Rush Street Gaming.
Bally's (BALY) said its $1.74B casino will include 3,400 slots and 170 table games. The site will also have a 3,000-seat theater, an exhibition experience, an outdoor music venue, and a 500-room hotel.
On Bally's recent earnings call, execs confirmed that the casino company may use real estate value within the land-based properties it holds today to fund either Chicago or other capital expenditures within the land-based portfolio.
