* iGamingToday…
Bally’s Chicago was supposed to be a $1.7 billion resort project. Instead, the company has now stopped construction on everything except the casino itself, leaving a major question hanging over the development: whether the business case Bally’s signed up for still exists.
The immediate dispute is over video gaming terminals. Chicago wants them. Bally’s does not.
The city’s 2026 budget already counts on $6.8 million in tax revenue from VGTs. The calculation assumes 3,300 eligible businesses would participate, with 80% installing the maximum six machines. That would put more than 15,000 terminals across Chicago.
The numbers behind the machines help explain why the city is pushing ahead. Illinois had 49,738 VGTs operating during the first six months of 2026, generating an average of $34,252 per terminal. Applied to Chicago’s projected machine count, that points to roughly $1 billion in annual revenue.
For Bally’s, that is a direct competitive threat.
The company argues that a large expansion of video gaming would weaken the prospects of its casino. Chicago aldermen see the issue differently. Twenty-seven council members have told Bally’s that the agreement covered more than a casino floor and that the company is still expected to complete the broader development it promised.
* But…
- Three Dimensional Checkers - Thursday, Aug 13, 26 @ 11:42 am:
It would be interesting to see any communications between MBJ’s administration and Bally’s, although I know we never will. Recall Maze Jackson is the lobbyist for the National Association of Promotional Retailers. It seems just as likely that the 1,500 union jobs are being held hostage so the shady sweepstakes machines can keep operating. All the pieces matter.
- ChicagoBars - Thursday, Aug 13, 26 @ 12:09 pm:
I could (and have) happily spend weeks dumping on Mayor Lightfoot’s chosen City casino partner for their Chicago finally legalizing VGT hysteria. After all “VGT will be really bad” is a better media narrative than “Gee, we sure have missed all our financial projections by a mile so far” (banned punctuation x2).
So I’ll simply point out they are trying to execute three mega projects in three major markets (NYC, Chicago, and Vegas) simultaneously and there isn’t a lot of evidence they have the bandwidth, experience, or cash flow to pull it off. Meanwhile their quarterly report to the SEC is late, for the third time this year.
So let’s not let a hastily chosen by a one term Mayor hijack a valuable source of extra revenue for Chicago neighborhood bars & restaurants just to appease a casino operator that is deeply mediocre at generating all their promised revenue for City pensions.