Significant changes

Plans to develop the first-ever casino in the city of Chicago met heavy resistance during the initial planning phase and critics are still raising questions about the project. The Chicago Sun-Times Editorial Board published an op-ed on Tuesday that calls for a restart of the approval process for the building work that Bally’s Corporation intends to begin soon.

it has to change the location of a 35-story hotel tower

This comes a week after the casino company revealed that it has to change the location of a 35-story hotel tower on the site due to potential dangers to underlying water pipes.

Calling for a review

The Editorial Board contends that moving the location of the hotel isn’t just a small tweak of the original plan. It believes that this type of major renovation requires approval from the City Council and the Plan Commission so the general public does not get blindsided by any further changes down the line.

condemns the city and Bally’s for only now discovering the issue

The piece condemns the city and Bally’s for only now discovering the issue with the water pipes, saying that it is the “latest example of the assorted hinkiness and unmet expectations that have surrounded the entire casino deal from the start.”

Construction work has not yet begun; Bally’s recently said that it aims to break ground this year. Some people believe that Bally’s will struggle to meet its planned opening date. Alderman Brian Hopkins thinks the target is optimistic at best and also questioned Bally’s ability to raise the necessary capital to keep the project on schedule.

Questions that need answering

Another underwhelming situation has been the performance of the temporary casino at Medinah Temple which will be in operation until the permanent facility opens by September 2026. It has only made about $3.1m in tax revenue for the city since opening in September, which is about $10m less than the original projections.

Questions also remain about the awarding of the casino license to Bally’s. A report in June from the Chicago Sun-Times showed alleged financial links between the casino company and then-Mayor Lori Lightfoot.

One of the main reasons why the casino project got the green light was to help generate revenue for the city’s significant pension obligations. This is why the Editorial Board believes the public needs transparency with all aspects of the project, as they have a stake in its success.