Bally’s announces refreshed site plan for Chicago casino

Bally’s (BALY) announced a refreshed Bally’s Chicago Casino permanent site plan that prominently features a planned 500-room, 34-story hotel tower into a single-phase construction project at the 30-acre former Tribune Publishing site, pending approval of the Chicago Department of Planning & Development. In new renderings released, the future Bally’s Chicago Casino will feature its hotel tower on the southern end of the casino development nearest Ohio Street along the Chicago River. The hotel tower will include a large pool spa, fitness center and sun deck, as well as a rooftop restaurant bar to enjoy the Chicago skyline. Earlier this year, the hotel tower was moved due to unforeseen underground infrastructure and an adjusted design for a two-phase hotel was approved. Bally’s and Gaming and Leisure Properties (GLPI) entered into a binding term sheet for $940M construction funding facility for the Chicago project, along with other financing transactions, that together GLPI expects to fund $2.07B to Bally’s. GLPI and Bally’s have agreed to a strategic alliance on the Chicago casino and hotel tower construction development. GLPI’s principals have over three decades of construction development in the gaming and entertainment industry. On July 5, Bally’s took possession of the former Tribune Publishing site, located at 777 W. Chicago Avenue. This week, Brandenburg Industrial Service Company, the project’s demolition contractor, began preparing the site for demolition. The casino will offer space for approximately 3,300 slots, 173 table games and VIP gaming areas.