Bally’s to Open Chicago Casino on Time, Doesn’t Plan to Rush Tropicana’s Redevelopment

Bally’s Corporation, which just posted its Q1 results, commented on its plans for the future. According to the company, its permanent Chicago casino should welcome its first guests by Q3 2026, despite the struggles. In the meantime, Bally’s will not rush the redevelopment of the Tropicana site.

The gambling company addressed these issues during its Q1 earnings conference call. According to Robeson Reeves, Bally’s chief executive officer, the company has “absolutely no urgency whatsoever” when it comes to the Tropicana redevelopment. Still, the signature Vegas property is set to be imploded in October, as per the earlier plans.

The site in question is currently owned by Gaming and Leisure Properties. Following the end of the Tropicana, nine of the acres will be redeveloped into an MLB stadium. In the meantime, Bally’s is still considering its options.

According to Charles Diao, Bally’s treasurer, his team is in no rush to redevelop the site and is waiting for its option to increase in value. In any case, the strategic location and flexibility of the site is something that Bally’s intends to capitalize on.

Bally’s Needs to Secure Extra Financing

In the meantime, Bally’s continues to struggle to raise the funds needed to complete its permanent casino in Chicago. Despite that, the company remains convinced that it will be able to open the property with no delays.

Bally’s has been struggling to raise the $800 million needed to develop the Chicago property for some time now. Despite that, the company’s temporary property at Medinah Temple continues to make strides and attract new customers.

While skeptics believe that the temporary venue’s positive performance is due to Bally’s intense promotional spending, the property has still been able to post GGR gains for six months in a row. The Medinah Temple temporary casino, according to Bally’s, is now the second-most visited gambling venue in the state of Illinois.

Marcus Glover, Bally’s chief financial officer, admitted that the profitability of the property is still “pretty light” but noted that this is “intentional.”

In addition to discussing Bally’s ongoing efforts in Illinois and Nevada, executives also commented on the company’s bid for a New York casino. According to them, the delays in the licensing process might actually benefit Bally’s, providing it with ample time to address its struggles in other states.

In other news, a Bally’s stakeholder recently urged other investors to reject indoor smoking.