Chicago’s River West neighborhood is undergoing a major transformation as Bally’s Corporation, supported by Gaming and Leisure Properties, Inc. (GLPI), pushes ahead with the creation of a $1.19 billion flagship casino resort. The development, located on the site of the former Chicago Tribune headquarters, is expected to redefine downtown entertainment and open in the final quarter of 2026.

The large-scale complex will feature a 178,000-square-foot gaming floor equipped with more than 3,300 slot machines and 170 table games. Alongside its extensive casino offerings, the project will introduce a 500-room luxury hotel, an array of dining and nightlife venues, expansive event spaces, and a community-centered riverwalk with green space designed to enhance public access to the waterfront.

GLPI’s Investment and Ongoing Construction Progress

GLPI purchased the Tribune property in 2024 for $250 million and is channeling a total of $1.19 billion into the venture. The company has emphasized in a press release that this long-term investment reflects its broader strategy of fueling tenant growth while driving lasting value for shareholders.

To date, several foundational milestones have been achieved. Crews have completed the demolition of the Tribune buildings, installed caissons, finished trench excavations, and connected a concrete pad to the hotel’s core. Additional progress includes the placement of a waterproofing membrane, the installation of caisson caps and grade beams, and the assembly of the first steel crane for vertical construction.

At present, construction is focused on concrete pours for structural elements such as shallow foundation walls, elevator cores, and basement slabs. Rebar cages and formwork are being installed across multiple sections, while underground electrical and plumbing systems are advancing with conduit and cabling work tied to permanent ComEd power. Steel deliveries are arriving regularly to support ongoing erection of the casino structure. Meanwhile, hotel construction has progressed to its second-level deck, with preparations underway for additional vertical work.

Looking ahead, the development will continue with more vertical steel construction for the casino, higher-level concrete pours for the hotel, and the installation of two additional cranes. Fabrication of the curtainwall system, which will shape the exterior of both the hotel and casino, is also in progress.

A New Era for Chicago Entertainment

Once completed, the Bally’s Chicago property will become the company’s 16th casino nationwide, further expanding its United States footprint. Bally’s currently operates 15 casinos across 10 states, managing approximately 15,300 slot machines, 580 table games, and 3,800 hotel rooms. The corporation also maintains a presence in online and interactive gaming through Bally’s Interactive International and Bally Casino, as well as Bally Bet, its sports betting platform.

GLPI, a leader in gaming-focused real estate, continues to use its triple-net lease model to support projects like this one, where tenants oversee property operations, maintenance, and associated taxes. The partnership with Bally’s in Chicago underscores GLPI’s role in financing transformative projects that serve both community and investor interests.

The Bally’s Chicago resort is positioned not only as a major entertainment hub but also as a catalyst for urban revitalization. With its mix of gaming, luxury accommodations, dining, and cultural amenities, the project is designed to anchor the city’s riverfront while enhancing public space through the addition of landscaped walkways and gathering areas.