Bally's began demolishing the former Chicago Tribune Freedom Center in Chicago on Tuesday, the company said. The demolition is expected to take five months; the permanent casino is planned to open in fall 2026, while the temporary site remains operational.
The demolition marks progress towards Bally's permanent Chicago casino, which is planned to replace its temporary operation.
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Gaming & Leisure Properties executives said the slowdown in construction at Bally’s Chicago casino had not changed GLPI’s outlook on the project during its third-quarter earnings call. They said the $1.7bn resort was roughly two-thirds complete and that its hotel and casino were expected to be weather-tight by December. GLPI said project delays could affect Bally’s repayment timing and financial position, while its own credit risk had not changed.
Analysts cited in a research roundup discussed prediction markets’ potential effect on sports betting during the NFL season and Bally’s Chicago casino project. A Jefferies analyst said GLPI had committed $940 million to the development, with $475.7 million funded by 30 June, and noted investor attention on the project’s timeline and financing.
Bally’s faces debt and liquidity pressure following a Q2 2026 earnings miss and a going-concern warning, citing Trefis. The report cited Bally’s 14 August earnings release showing revenue of $792m against a $789m estimate. It also identified financing challenges for the company’s $1.7bn Chicago casino.
Bally’s Chicago paid its $4m annual contribution to the city on 9 September. Bally’s had threatened to withhold payment, alleging that the city had failed to meet its obligations under their Host Community Agreement.
LiSense launched its gambling licence monitoring platform on 3 September 2026, with agreements involving Bally’s, BoyleSports and Light & Wonder, according to an announcement. The platform checks over 300,000 UKGC register data points daily and alerts subscribers to licence changes.