Bally’s Corporation recently announced its plans to build Chicago’s first-ever casino and is seeking to sell a 25% stake in the project to investors who are women or minorities, in accordance with its agreement with the city. The company aims to raise $250 million to cover the $1.34 billion development costs, with individuals able to invest as little as $250 and up to $25,000. However, the prospectus warns that any return on investment may take three to five years.
Investors who are deemed socially disadvantaged by the city, due to experiencing racial or ethnic prejudice or cultural bias within American society, are eligible to participate in this investment opportunity. Construction is already underway at the site of the former Chicago Tribune printing center, with demolition work in progress. Financing challenges arose earlier in the year, but Bally’s was able to secure private funding to address an $800 million shortfall.
The casino is scheduled to open in September 2026, with projected annual revenue of $1 billion and an estimated $200 million in taxes generated for the city. These funds have been designated to support struggling firefighters and police pension funds. In the meantime, a temporary casino is operating nearby until the permanent facility is completed.