As of today, Chicago saw the official launch of its first casino hosted in the Medinah Temple, a renowned landmark in River North. With a ribbon-cutting event, Bally's temporary casino, which already started betting operations around a month prior, was formally brought into operation, according to CBS News.
Many challenges emerged in Illinois before this project could materialize. Although the Riverboat Gambling Act was enacted in 1990, it took until 2019 for the efforts of former Mayor Lori Lightfoot to finally push through a casino in Chicago. Now, Bally's temporary casino will operate in Medinah Temple for approximately three years, as a more permanent structure is built, with plans for the new opening in 2026, as reported by Hoodline.
Mayor Brandon Johnson and Ald. Walter Burnett (27th) were part of the ceremony's traditional ribbon cutting, alongside Bally's chairman, Soo Kim. Kim commented that the new facility is yet another invitation to visit downtown Chicago. The casino has 800 slot machines approximately, 56 table games around, alongside two full-service bars, restaurants, and a cafe, with a future provision for a sportsbook according to CBS News.
The temporary casino at Medinah Temple is a prelude to the coming $1.74 billion entertainment hub in River West. The main facility is slated to include an exhibition hall, a hotel with 500 rooms, a theater with 3,000 seats, and a medley of ten restaurants furthered by Hoodline. With 4,000 gaming positions, the completed project is set to be Illinois' largest casino, aiming to quickly increase city revenues.
Projections indicate that the temporary casino could produce over $100 million in adjusted gross receipts in its first year. From the casino, the city, expects to receive roughly $70 million in 2023, including an initial $40 million payment by Bally's.
