Bally's Chicago begins demolition of former Tribune plant
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Bally's Casino leaders took another step forward Tuesday in their plans to open a permanent casino in River West.
Why it matters: Chicago mayors have wanted a downtown casino for decades to prevent people from traveling to the suburbs to gamble.
- Former Mayor Lori Lightfoot sealed the deal for it to happen, but since then, missed revenue projections and unforeseen site problems made a 2026 opening seem unlikely.
Yes, but: Bally's says it is on track to meet that deadline.
Catch up quick: Last month, Bally's secured $940 million in financing to help fill a major funding gap, and it released new plans for the complex after learning earlier this year the original site closer to Chicago Avenue would damage city water lines.
The latest: Demolition of the former Tribune publishing plant began Tuesday. The site is expected to include a 500-room hotel tower, a 3,000-seat theater, six restaurants, cafés, a food hall and a 2-acre public park.
Between the lines: Mayor Brandon Johnson was not at the groundbreaking. He shared concerns about the project to the Sun-Times editorial board earlier this year, and today he released a statement of support.
What they're saying: "The City of Chicago joins Bally's in celebrating this historic day," Johnson said. "This $1.7B casino and entertainment development is one of the largest economic investments in Chicago. For many years to come, this project will have an incredible impact on our city as a job creator, hospitality destination and revenue generator."
Reality check: Bally's and the city had hoped the temporary casino at the Medinah Temple in River North would bring in more revenue, but it fell about $10 million short of its $13 million projections last year.
- That revenue was from September to December as the casino opened three months later than previously planned.
By the numbers: This year, about 790,000 people have visited the temporary casino, with Chicago getting about $8 million in revenue.
- Meanwhile, 1.7 million people have gone to Rivers Casino in Des Plaines this year, which opened in 2011 and brings in $16.9 million for the local economy.
The intrigue: Ald. Walter Burnett, whose ward includes the site and nearby West Side neighborhoods, was blunt about his expectations for Bally's during the groundbreaking on Tuesday.
- "Don't put anything on the agenda in my ward until I'm satisfied that people from Cabrini Green are working on this site. So if Cabrini Green people don't get to work on this site, there will be no more development in the 27th Ward until I'm satisfied," Burnett said.
- The alderman grew up in the public housing development and lived there when the Tribune printing plant was built.
What's next: Demolition is expected to take five months, including the start of replacing the Chicago Avenue bridge with a tied-arch bridge that will also connect to the Riverwalk.
- During the construction, which is slated to begin this fall, cars will be detoured around the site via LaSalle Street, Grand Avenue, Ashland Avenue and Division Street, according to the Chicago Department of Transportation.
Editor's note: This story has been updated to include a statement from Mayor Brandon Johnson.