{"id":3187,"date":"2024-01-11T14:49:39","date_gmt":"2024-01-11T14:49:39","guid":{"rendered":"https:\/\/www.casinousa.com\/news\/?p=3187"},"modified":"2024-01-11T14:49:39","modified_gmt":"2024-01-11T14:49:39","slug":"ballys-chicago-temp-casino-underperforms-in-first-4-months-of-operations","status":"publish","type":"post","link":"https:\/\/www.casinousa.com\/news\/ballys-chicago-temp-casino-underperforms-in-first-4-months-of-operations","title":{"rendered":"Bally\u2019s Chicago Temp Casino Underperforms in First 4 Months of Operations"},"content":{"rendered":"<p><img decoding=\"async\" src=\"https:\/\/www.casinousa.com\/news\/wp-content\/uploads\/sites\/2\/2022\/11\/proposed-ballys-casino-at-medinah-temple-chicago.jpg\" alt=\"Proposed Bally&#039;s Casino at Medinah Temple, Chicago\" width=\"300\" title=\"Bally\u2019s Chicago Temp Casino Underperforms in First 4 Months of Operations\" class=\"alignleft size-full wp-image-2760\" \/><strong>Summary:<\/strong><\/p>\n<ul>\n<li>Bally\u2019s temporary casino contributed just $3 million to the city in four months<\/li>\n<li>Bally\u2019s executives and current Mayor Brandon Johnson remain optimistic the casino will achieve better results<\/li>\n<li>Civic Action says gaming revenue can be unreliable in the long run<\/li>\n<\/ul>\n<p>Bally\u2019s failed to meet expectations during its first few months of operations in Chicago, as revenue generated by its <a href=\"https:\/\/www.casinousa.com\/news\/chicago-residents-concerned-over-temporary-casino-plans\">temporary casino at Medinah Temple<\/a> fell way short of former <strong>Mayor Lori Lightfoot<\/strong>\u2019s estimate. <\/p>\n<p>But the initial performance is not always indicative of future results, and current <strong>Mayor Brandon Johnson<\/strong> chooses to look on the bright side as he highlights Bally\u2019s \u201c<em>positive revenue numbers<\/em>\u201d as 2023 closed.<\/p>\n<h2 id=\"ballys-only-generated-3m-for-chicago-in-2023\">Bally\u2019s Only Generated $3M for Chicago in 2023 <\/h2>\n<p>In May 2022, Bally\u2019s obtained Lightfoot\u2019s approval to operate Chicago\u2019s first casino, beating out rivals Hard Rock International and Rush Street Gaming. In September last year, the company opened a temporary casino at Medinah Temple, as construction of the permanent casino continues at Chicago Tribune\u2019s Freedom Center printing plant in River West.<\/p>\n<p>Lightfoot <strong>projected that the city would get $12.8 million in casino revenue<\/strong>, to be allocated for police and firefighter pension funds. That was not achieved as <strong>Bally\u2019s only profited $30.4 million<\/strong> from its temporary casino at Medinah Temple during its first four months of operations, and <strong>just $3.1 million of that would go to the city<\/strong>, much lower than expected.<\/p>\n<p>But it won\u2019t be all doom and gloom, with Bally\u2019s executives aiming to build on the casino\u2019s revenue figures in December which reached a record $8.5 million, with around $865,000 of that going to the city, according to the <a href=\"https:\/\/www.igb.illinois.gov\">Illinois Gaming Board<\/a>. <\/p>\n<p>To further boost the numbers, the company is offering free parking and new promotions, with the casino also expanding its operating hours to meet customers\u2019 expectations, said Bally\u2019s Chicago general manager <strong>Mark Wong<\/strong>. <\/p>\n<p>Mayor Johnson remains confident Bally\u2019s Chicago will bring huge economic contributions, generate more jobs, and improve the overall business environment in Chicago, <a href=\"https:\/\/www.casinousa.com\/states\/illinois\">Illinois<\/a>. December\u2019s results are a \u201c<em>positive sign<\/em>\u201d for both the casino and the city, he added.<\/p>\n<h2 id=\"casino-revenue-unreliable-finance-think-tank-says\">Casino Revenue \u201cUnreliable\u201d, Finance Think Tank Says <\/h2>\n<p>Like his predecessor, Johnson is also betting big on Bally\u2019s, setting a casino revenue target of $35 million for the city for 2024, higher than Lightfoot\u2019s $34.4 million. Whether that can be realized remains to be seen.<\/p>\n<p>Local government finance think tank Civic Federation has warned against providing overestimates, saying casino revenue can be \u201c<em>unreliable<\/em>\u201d particularly over the long run. The group is calling on the city government to develop contingency plans in this area.<\/p>\n","protected":false},"excerpt":{"rendered":"Summary: Bally\u2019s temporary casino contributed just $3 million to the city in four months Bally\u2019s executives and current Mayor Brandon Johnson remain optimistic the casino will achieve better results Civic Action says gaming revenue can be unreliable in the long run Bally\u2019s failed to meet expectations during its first few months of operations in Chicago, [&hellip;]","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1,6,5],"tags":[],"class_list":["post-3187","post","type-post","status-publish","format-standard","hentry","category-news","category-financial","category-industry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.5 - 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revenue generated by its temporary casino at Medinah Temple fell way short ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casinousa.com\/news\/ballys-chicago-temp-casino-underperforms-in-first-4-months-of-operations\" \/>\n<meta property=\"og:site_name\" content=\"CasinoUSA News\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-11T14:49:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casinousa.com\/news\/wp-content\/uploads\/sites\/2\/2022\/11\/proposed-ballys-casino-at-medinah-temple-chicago.jpg\" \/>\n<meta name=\"author\" content=\"Sadonna Price\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sadonna Price\" \/>\n<script type=\"application\/ld+json\" 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