The Temporary Bally’s Casino Will Soon Undergo the Illinois Gaming Board’s Test

Bally’s Corporation is hoping that its live casino games application in Chicago will get approved soon. The Illinois Gaming Board (IGB) is set to assess and test Medinah Temple, the gaming operator’s temporary property in Chicago, from September 5.

The IGB will assess the casino before performing the two-day gaming sessions on September 6 and 7. Bally’s needs to fulfill Illinois’ gaming regulations for the IGB to award it a temporary casino gaming license.

Typically, an IGB approval takes a few days before it issues an operator a license. Therefore, Bally’s might acquire the live gaming permit in early September if it satisfies the board’s qualification criteria.

Assessments and tests are among the main requirements that a casino operator has to fulfill before they get an Illinois gaming license. Still, Bally’s is developing a permanent casino in Chicago’s River West area.

Former Mayor Lori Lightfoot chose Bally’s Corporation as the city’s next casino operator in May 2022 after selecting its $1.7 billion gaming proposal over Rush Street and Hard Rock’s proposals. Bally’s applied for the state’s license, and the mayor chose it as “preliminary suitable” the following month. This allowed the operator to relocate its gaming equipment to Medinah Temple.

Illinois passed a gaming expansion legislation in 2019 that allowed sports betting and selected Chicago as one of its sex regions that would receive new gaming licenses. Bluff Casino launched on Friday in Williamson County, and it is the fourth gaming property among six to start operating.

The state has other casinos in Danville, Waukegan, and Rockford. Full House and Hard Rock Resorts have temporary casinos in Waukegan and Rockford, respectively. Yet, Golden Nugget launched a permanent gaming venue in February in Waukegan.

Hard Rock Resort launched its first temporary casino in November 2021. Wind Creek had planned to open a casino in Cook County but later postponed it to 2025.

What Is in Store for Bally’s?

Chicago will start receiving gaming tax from Bally’s temporary casino once it starts operating. It will offer the city more money for fire and police pensions. Besides, the casino will offer more revenue in three years’ time.

Medinah Temple has three gaming floors with a 34,000 square foot space, over 55 table games, and almost 800 slots. Bally’s recently had a second-quarter conference to discuss its earnings.

It predicted that the Chicago temporary casino’s revenue would range from $3.5 million to $5 million in Q4 2023. Also, it might make $50 million to $60 million in 2024.

Medinah Temple is likely to generate $800 million annually from 2028 once it starts operating fully. It will pay Chicago about $200 million in tax revenue at that time.

Bally’s is undecided about offering gaming positions at Midway or O’Hare airports. It acquired this option and highlighted it in the recent presentation. Still, the company can apply for a 12-month good-faith extension for the temporary casino like Full House and Hard Rock.

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