The latest monthly cash count announced Wednesday by regulators at the Illinois Gaming Board put the River North betting house near the top of the state’s roster of 15 casinos — but well behind city tax revenue projections for Chicago’s desperately underfunded police and firefighter pensions.
Bally’s adjusted gross revenue — its profit after paying winners — shook out to about $245,446 per day in October, down from an average of roughly $278,268 from its Sept. 9 opening through the end of that month.
Bally’s take generated nearly $768,000 for city coffers, adding up to almost $1.5 million in tax revenue since it opened.
Mayor Brandon Johnson didn’t answer directly when asked Tuesday how confident he is the Rhode Island-based corporation can generate the $34.4 million that city budget officials have banked on for his first budget taking effect next year.
Bally’s temporary casino at Medinah Temple extended an additional 12 months
The Illinois Gaming Board approved a request this month from Bally’s Chicago to operate its temporary casino at Medinah Temple for an additional 12 months.
Bally’s executives expressed optimism during a quarterly earnings call last week. CEO Robeson Reeves said his company’s Chicago operation is “beginning to build momentum” as they “expand our marketing initiatives.” The gaming board has to sign off on casino marketing plans.
Papanier also noted Medinah Temple will soon become a 24/7 operation. Currently, it closes from 4 a.m. to 8 a.m.
Rivers Casino in Des Plaines — the most lucrative in the state for more than a decade — dwarfed the competition with more than $43 million in revenue and 250,000 admissions in October.
The temporary casino is expected to be open through September 2026, although legislation advancing in Springfield could give Bally’s the option to extend their River North stay with gaming board approval.
