Bally’s Chicago was busier in December than when the circus used to come to Medinah Temple.
The fledgling Chicago casino drew nearly 100,000 visitors for the month, second only to Rivers Casino in Des Plaines, according to data published this week by the Illinois Gaming Board.
Gambling at the temporary Medinah Temple casino, which expanded to a 24/7 operation on Dec. 27, also generated a new monthly high of more than $8.5 million in adjusted gross receipts, up nearly $900,000 over November. Bally’s Chicago had been limited to a 20-hour daily schedule since opening Sept. 9.
“We’ve added free parking, new promotions, and expanded hours to meet customers’ expectations,” Mark Wong, vice president and general manager of Bally’s Chicago, said in a news release Monday. “Our guests have responded positively. In December we saw our highest attendance and revenues to date.”
While December broke records, growth for Bally’s Chicago has been relatively gradual since it opened four months ago in the renovated River North landmark. The Chicago casino held steady, ranking fourth in revenue and second in admissions in December among the state’s 15 casinos, according to Gaming Board data. Rivers Casino Des Plaines led the way in both categories with $45.4 million in adjusted gross receipts and 279,000 admissions.
Statewide casino revenue was up nearly $10.9 million, or 8.3% for the month, topping $141 million in adjusted gross receipts.
In 2022, Rhode Island-based Bally’s was selected by the city to build Chicago’s first casino, besting four other proposals with plans for a $1.74 billion entertainment complex at the 30-acre Freedom Center printing plant site in River West. The permanent casino is expected to open in 2026.
Bally’s agreed to pay Tribune Publishing, owners of the Chicago Tribune and other newspapers, $150 million to vacate the Freedom Center by July 2024. Tribune Publishing plans to relocate operations to the Daily Herald printing plant in Schaumburg, which it purchased for an undisclosed price.
The casino can operate at its temporary facility inside Medinah Temple for up to three years after being granted a 12-month extension by the Gaming Board in October.
Built by the Shriners in 1912, the landmarked Medinah Temple was designed by architecture firm Huehl and Schmid. Over the years the venue hosted everything from concerts and high school graduations to the annual Shrine Circus. Amenities included a 30,000-pound pipe organ installed in 1915.
In its heyday, the Shrine Circus drew upward of 50,000 visitors during an annual three-week run nearly four decades ago. It’s even busier these days.
Bally’s Chicago spent $50 million renovating the 130,000-square-foot Medinah Temple, filling the three-story, block-long building on North Wabash Avenue with nearly 800 slot machines and 56 gaming tables, an expansive blue-lit center bar, two restaurants and a coffee shop.
Since opening in September, Bally’s Chicago has drawn nearly 350,000 visitors to Medinah Temple, generating $30.4 million in adjusted gross receipts — the money kept after winnings are paid out. That has produced nearly $3.9 million in state tax revenue and more than $3.1 million in local tax revenue over four months, according to Gaming Board data.
Statewide, casinos generated more than $1.15 billion in adjusted gross receipts during 2023, according to Gaming Board data.
Bally’s Chicago was projected to generate $805.6 million in annual adjusted gross receipts by 2028. That would create nearly $246 million in annual revenue for the city by year six — assuming the permanent casino opens as scheduled in 2026.
The temporary casino, which was initially slated to open in June, was projected to generate more than $100 million in adjusted gross receipts in 2023. The city expected to receive nearly $70 million from the casino last year, including a one-time $40 million upfront payment from Bally’s.
With the launch pushed back to September, Bally’s scaled down earnings projections to between $15 million and $25 million for the temporary casino in 2023, according to an August investor presentation. At $30.4 million in adjusted gross receipts for the year, Bally’s met its reduced expectations.
“We are pleased that Bally’s Chicago Casino has experienced positive revenue numbers at its temporary facility by the end of 2023,” Mayor Brandon Johnson said in the news release. “The revenue growth is a positive sign for both the casino and the city of Chicago. Economic contributions from such establishments play a crucial role in boosting the local economy, creating job opportunities, and enhancing the overall business environment.”
