Bally’s Chicago has unveiled an investment opportunity for a 25% equity stake in its highly anticipated casino and resort project. The initiative includes both a public offering and a private placement, managed exclusively by Loop Capital Markets. Funds raised through these investments aim to support the development of Bally’s permanent casino at the historic Tribune Publishing site in downtown Chicago.

Under the terms of the Host Community Agreement (HCA) with the City of Chicago, the equity stake is reserved for Qualified Investors, specifically prioritizing women and minority investors. This initiative seeks to foster community inclusivity and promote economic participation. Interested investors can explore the details of the offering on Bally’s official website, noting that participation requires adherence to either a prospectus or a confidential information memorandum.

Features of the $1.7 Billion Development

The permanent casino, situated at 777 W. Chicago Avenue, promises to transform the urban riverfront with a state-of-the-art design. Planned amenities include a 3,000-seat theater, a two-acre public park with outdoor spaces, and six restaurants, alongside a food hall. An extended riverwalk spanning 2,000 feet will connect the lower riverbank to the property, enhancing public access to the area.

The casino floor itself is designed to host approximately 3,400 slot machines and 173 table games, alongside VIP gaming zones. Complementing these gaming facilities will be a 500-room hotel tower featuring a rooftop restaurant, bar, spa, fitness center, pool, and sun deck—all offering stunning views of the Chicago skyline.

Bally’s emphasized the strategic location of the casino, which ensures easy access to major transit routes and places it as Chicago’s only in-city casino. Its nearest competitor is located 16 miles away, a significant distance without direct public transportation options.

Timeline and Financial Framework

The development timeline for the $1.7 billion project is progressing steadily. Demolition at the construction site is already underway, with plans to begin building in the first quarter of 2025. Bally’s anticipates completing the public offering phase by February 2025, with the grand opening targeted for the third quarter of 2026.

To fund the project, Bally’s previously secured $2.07 billion through an agreement with REIT Gaming and Leisure Properties, Inc. (GLPI). This deal includes the sale of the casino’s real estate to a GLPI affiliate, along with a $20 million annual rental agreement. Additionally, GLPI has committed up to $940 million in construction financing, finalized in the third quarter of 2024.

Inclusive Investment Initiative

Aligned with its HCA commitment, Bally’s has tailored this equity offering to encourage participation from underrepresented groups, according to Chicago Sun Times. Investment opportunities range from $250 to $25,000, enabling women and minority investors to join the project as equity partners. The goal is to raise $250 million to support construction costs, further advancing the vision of an inclusive, world-class entertainment destination.

Set against Chicago’s vibrant riverfront, this project signifies not only a monumental addition to the city’s entertainment landscape but also a landmark opportunity for community involvement and economic growth. With its sights set on a 2026 opening, Bally’s Chicago is poised to redefine urban leisure and hospitality.