Bally’s Announces Site Plan for Chicago Waterfront Development That Restores 500-Room Hotel Tower Plan to Single-Phase Project

Last week, Bally’s Corporation (NYSE: BALY) announced an updated permanent site plan for Bally’s Chicago Casino, which highlights a 500-room, 34-story hotel tower planned in a single-phase development on the 30-acre former Tribune Publishing site, pending approval from the Chicago Department of Planning and Development.

In new renderings released today, the future Bally’s Chicago casino will showcase its hotel tower on the south end of the casino complex, closest to Ohio Street along the Chicago River. The hotel tower will feature a large spa pool, fitness center and sun deck, as well as a rooftop restaurant and bar to enjoy the Chicago skyline. Earlier this year, the hotel tower was relocated due to unforeseen underground infrastructure issues and an adjusted design for a two-phase hotel was approved.

“We have been working hard behind the scenes to restore the entire Bally’s Chicago Casino hotel tower and we are fully committed to meeting our planned opening date of September 2026,” said George Papanier, Chairman of Bally’s Corporation. “We are also pleased to announce that Gaming and Leisure Properties has agreed to finance this entire development in one phase to deliver a better project in a more efficient manner.”

Bally’s and Gaming and Leisure Properties, Inc. (NASDAQ: GLPI) today entered into a $940 million financing agreement for the Chicago construction project, as well as other financing transactions, which together are expected to provide GLPI with $2.07 billion in financing for Bally’s. GLPI and Bally’s have agreed to a strategic alliance for the development of a casino and hotel tower in Chicago. GLPI’s principals have more than three decades of experience in construction development in the gaming and entertainment industry.

On Friday, July 5, Bally’s took possession of the former Tribune Publishing site at 777 W. Chicago Avenue. This week, Brandenburg Industrial Service Company, the demolition contractor for the project, began preparing the site for demolition.

“With the keys to the property in hand, new financing secured, a site plan that surpasses the original and demolition set to begin this summer, there is no doubt that Bally’s Chicago Casino and Hotel will soon rise along the Chicago River,” added George Papanier.

The Bally’s Chicago Casino development will leverage the beauty of Chicago’s urban waterfront to create inclusive and vibrant spaces, including plans for a 500-room hotel tower, a 3,000-seat theater, six restaurants, cafes and a food hall, and a 2-acre public park. The casino will provide space for approximately 3,300 slot machines, 173 table games and VIP gaming areas. The lower riverfront will be connected to the property by an approximately 2,000-foot extension of the River Walk extending south of W. Chicago Avenue. The development will generate approximately 3,000 construction jobs and 3,000 casino jobs when the permanent Bally’s Chicago building becomes operational. Renderings of the new design are available at http://ballyschicago.com/renderings.

“Bally’s Chicago’s enhanced development plan provides for 500 hotel rooms in a single-phase development plan, protects all critical infrastructure and enhances the grandeur of our long-awaited permanent casino development,” said Christopher Jewett, senior vice president of corporate development for Bally’s Corporation. “We look forward to working with city officials to secure approval of our revised development plan.”

The enhanced site plan renderings were prepared by HKS, a global design firm with an office in Chicago that provides award-winning hospitality and entertainment design services. HKS has designed the Grand Hyatt Nashville, MGM National Harbor gaming resort in Maryland, The Palazzo in Las Vegas and The Venetian Macao. The design of Bally’s Chicago will add to Chicago’s rich architectural history with an iconic addition to the waterfront skyline, drawing inspiration from the Chicago River for the river’s form-pull action up the façade, creating a dynamic and iconic building incorporating skin undulations.

“We are proud to be a part of the new Bally’s Chicago Casino site plan, which highlights a commitment to innovative and iconic design that not only preserves essential infrastructure but also enhances the architectural magnificence of the Chicago skyline,” said Jess Corrigan, partner and regional director of the mixed-use commercial practice at HKS. “We look forward to working with Bally’s and city officials to bring this ambitious project to life.”

The Chicago Community Builders Collective, a minority-led building partnership, is ready to implement the enhanced site plan and bring the vision of Bally’s Chicago Casino to life.

“We at the Chicago Community Builders Collective are excited about the future of Bally’s Casino Chicago and are thrilled to see this project come to fruition,” said Jimmy Akintonde, CCBC member and President and CEO of Ujamaa Construction. “As the general contractor, we are proud to be at the forefront of this important development that promises to bring jobs, economic growth and vibrant entertainment to our city. We look forward to the positive impact this project will have on Chicago and are committed to its success.”