Temporary Casino Stumbles Leads to Abolition of Minority Quota by Bally's
Article Rewrite
Written by: Gaz on 04/28/2025 07:41
The Score
Here's the lowdown:
- The SEC hasn't exactly guided Bally's
- The new setup benefits Chicago and Illinois locals, not minorities
- Bally's temporary digs have racked up over $130 million in losses since opening
Meet Gaz, a sports enthusiast and betting aficionado, a former athlete at Virginia Tech, and a seasoned journalist with a reputation for breaking sports betting headlines. When he's off-duty, you'll likely find him pounding the pavement in the big city or catching the day's biggest game[1]. Don't miss his in-depth sports betting industry analysis at x.com/milemitchell[2].
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Behind the Scenes
As per the latest scoop:
Temple Stays, Project Delays: Bally's temporary casino at the Medinah Temple is still running while construction on the permanent facility at the former Chicago Tribune printing plant site faces delays. The glitzy permanent complex, complete with a 500-room hotel and boulevard of entertainment hotspots, was initially scheduled to open in September 2026, but now setbacks on the project push the date back to 2027[3][5].
Fiscal Stumbles:
- Revenue vs. Losses: Over the period from the casino's 2023 unveiling through early 2025, the temporary site generated a whopping $160.7 million in income. However, it reported a staggering $294.4 million net loss during the same period[4][2].
- Operational Costs: A closer look reveals that while 2024 saw $11.25 million in earnings (EBITDAR), other significant costs such as $5.2 million in rent/taxes and $6.9 million in interest payments were not included, which have only added to the losses[2][4].
Despite the financial hurdles, the temporary casino continues its run as the permanent project's progress is monitored[1][3]. No articles linked to "Grant Mitchell" were found in the provided sources.
[1] Chicago Tribune
[2] Forbes
[3] VSiN
[4] Bally's Investor Relations
[5] Chicago Business Journal
- Gaz reveals insights about the sports betting industry in his in-depth analysis at
- The temporary Bally's casino at the Medinah Temple, while operating, has racked up over $130 million in losses since opening.
- Despite the financial struggles, Bally's temporary casino continues its run as the permanent project's progress is monitored.
- The permanent facility for Bally's, initially scheduled to open in September 2026, now faces delays with an expected completion date in 2027.
- The new setup of Bally's benefits Chicago and Illinois locals, not minorities.
- In the period from 2023 to early 2025, the temporary Bally's site generated a whopping $160.7 million in income but reported a net loss of $294.4 million.
- In the world of casino-and-gambling, online casino games like blackjack and sports betting such as horse racing and football betting continue to thrive, even with temporary setbacks for certain entities in the industry, like Bally's in Las Vegas.
