Bally's Chicago Receives Critical Support From City Council

Bally's Corporation (NYSE: BALY) today garnered a major victory after Chicago's City Council voted to approve an amendment to Planned Development No. 1426, authorizing zoning for the construction of Bally's Chicago Casino – a $1.7 billion flagship entertainment destination. The first phase of this project will include the one million square foot casino building, 500-room hotel, 3,000-person event space, dozens of infrastructure improvements in the surrounding area, and a significant amount of public open space. Chicago Aldermen also approved the ordinance, making way for 3,000 construction jobs, 3,000 permanent jobs, and millions of dollars in tax revenue that the casino will generate annually.


"This is a significant achievement and another critical step forward in the process of developing Bally's Chicago," said Bally's Chairman, Soo Kim. "We are confident that the casino will bring numerous long-term, positive economic benefits, including good-paying, union jobs, to this great city."

The support comes after the Plan Commission and Committee on Zoning recommended approval of the project to the Chicago City Council earlier this week. During the vote, members of the development team described the benefits and resources that the riverfront casino is expected to bring, such as its ambitious and industry-leading vendor contracting, workforce development, and equity ownership opportunities for minorities and women.

About Bally's Chicago

Bally's Chicago is a $1.7 billion destination casino, entertainment and hotel offering that will showcase "The Best of Chicago" arts and culture, food and sports, and curated dining and entertainment experiences. Located on the 30-acre Chicago Tribune Publishing Center at the intersection of Chicago Avenue and Halsted Street, Bally's Chicago will transform this currently underutilized site into a major economic driver for the city.

Among other features and amenities, Bally's Chicago will include 3,400 slots, 170 table games, 10 food and beverage venues, a 500-room hotel tower with rooftop bar, a 3,000 seat / 65,000 square foot entertainment center, a 20,000 square foot exhibition, outdoor music venue, and outdoor green space including an expansive public riverwalk with a water taxi stop. The project also provides Bally's with the exclusive right to operate a temporary casino for up to three years while the permanent casino resort is constructed.