A rendering of the Bally's Chicago casino is pictured.

Revenue has continued to fall beneath expectations at the temporary Bally’s casino at Medinah Temple as progress continues on the casino operator’s permanent site, the City Council Committee on Contracting Oversight and Equity learned during its annual casino hearing Thursday.

The annual hearing is required under an agreement between the city and casino operator Bally’s and must take place each year during construction of the $1.7 billion Bally’s Chicago casino and resort project in River West.  

Last year’s annual hearing noted that the casino had generated $67 million in new revenue for the city — $19.2 million in gaming tax revenue, a $40 million initial payment and $8 million through two annual $4 million payments — since opening in late 2023, which was below initial projections. The casino had also created more than 600 new permanent jobs and more than 500 construction jobs by that point in time.  

Related: Bally’s temporary casino falls short of revenue projections, some minority business participation goals, alderpeople learn at annual casino hearing 

Since then, the temporary casino has generated an additional $20 million in city revenue for a total of $87 million. That includes another $15.8 million in new gaming tax revenue and a third $4 million annual payment for 2025. 

However, it is anticipated that the annual $4 million payment may go away because of the City Council’s recent legalization of video gambling terminals in the 2026 budget. 

Total gross casino revenue generated for 2025 was more than $124.6 million, which was the fourth highest in the state. Still, that was just under half of what was originally projected.  

Gaming tax revenue last year was slightly down, as the temporary casino generated over $16.08 million in 2024. The past year represented a 1.3 percent drop.

The number of jobs created has reached more than 720 permanent and more than 600 construction jobs to date. 

Bally’s has met most of the city’s hiring and workforce diversity goals for the temporary facility as of the third quarter of 2025. It broke a goal of hiring 550 operations workers — hiring 743.  

It also achieved 83 percent minority staff, more than surpassing the 60 percent goal, met its goal of women making up 45 percent of staff and surpassed its goal of people with disabilities making up 5 percent of staff by achieving a 10 percent figure. However, it fell short of ensuring that at least 5 percent of staff members were veterans, only achieving a 2 percent figure. 

The number of casino visitors reported during the last annual report was over 1.7 million. The latest report said more than three million people have now visited the temporary casino. In both reports, the casino was recorded as having the second-highest admission rate in Illinois during its lifespan, but it was the third-most visited casino last year. 

Ald. Daniel La Spata (1), the committee vice chair, said the original 2025 revenue projections were $253.6 million and questioned if the city should lower its revenue projections for the eventual permanent facility. 

La Spata said he wondered if “Chicago in the long term needs to be revising down our own tax receipt projections as well.” 

Christopher Jewett, senior vice president corporate development for Bally's, said the casino operator is highly confident in the projections for the permanent casino and acknowledged a lack of amenities, on-site parking and other entertainment has made the temporary casino less attractive. A staff member from the city's Office of the Chief Financial Officer also said the figures La Spata cited were outdated and new projections were being used.

Representatives from Bally’s also discussed progress on the construction of its permanent riverfront casino, large theater and 500-room hotel.  

Bally’s is seeking passage of a state law that would grant them an extension of their casino license for the temporary location. The permanent casino was initially projected to open in September of this year, but the bill would provide flexibility up to September 2027 if the project is delayed for any reason. 

Jewett said there’s been challenges like there are with any large-scale construction project but specifically noted having to amend plans for a hotel tower in 2024 after it was determined existing city water lines could be damaged by the project. 

“We had to go and essentially redesign an entire multibillion-dollar project,” Jewett said.  

Still, he said the casino project is speeding toward completion, and while the state legislation would allow Bally’s to get a 12-month extension, they don’t anticipate needing the full extension and are aiming for “substantial completion” by the end of 2026.