Bally’s temp Chicago casino enjoys monthly revenue record; update on new resort

Article by : Charles Perrin Jun 10, 2024

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Bally’s Chicago enjoyed a banner month for revenues after its May gaming figures were released.

The temporary casino, which is located inside the Medinah Temple near the Magnificent Mile, hauled in more than $11.7 million from players that passed through its doors last month, according to data gathered by the Illinois Gaming Control Board (IGCB).

Indeed, the $11.73 million collected last month represents Bally’s Chicago casino’s best month to date since opening for business in September 2023.

Slots were the big winners, accounting for over half of the revenues generated ($6.98 million) while table games garnered $4.75 million.

The property rewards program continues to hold sway too, and last month, the number of enrollees climbed above the 90,000-person mark.

Discussing the results, Bally’s Chicago vice president and general manager Mark Wong said: “Our continued growth demonstrated Bally’s Chicago’s popularity with locals and tourists alike, aligns with our community engagement initiatives, and supports our dedication to responsible gaming.”

However, despite the riches of May, Bally’s Chicago has been lagging behind many forecasted revenue projections.

It is thought that in 2024, Bally’s would win $242.7 million or about $20.22 million a month, but the figures for January through to May indicate the casino took in $52.6 million, or $10.47 million a month.

Meanwhile, Bally’s Chicago is in the throes of preparing the Freedom Center for demolition to make way for its new permanent base.

With a 500-room hotel and 4,000 gaming terminals to be housed, Bally’s Chicago is expected to become the largest casino in Illinois.

Although the project will be a huge undertaking, funding hasn’t been easy to date, and Bally’s is still seeking around $800 million.

That aside, Wong is confident that Bally’s new venue is still on track to be unveiled in September 2026.

While Bally’s has a few financial irons in the fire, the May revenues certainly provide cause for optimism, and the onus is on Bally’s to continue to build upon this before making the switch.