Casino Woes Continue
They're never going to build this thing, are they?
Due to a logistical problem, Bally's has been forced to change plans for its permanent River West casino.
Driving the news: The company has submitted an alternative plan to the city for its proposed 500-room hotel tower after learning the original configuration could damage city water lines.
The project is still expected to open in 2026, a Bally's spokesperson confirmed.
We're going to go out on a limb and opine that 2026 is a pipe dream, especially if the predicted economic downturn on tap for this summer / fall hits as hard as expected.
The "temp" casino generated almost $3 million of an expected $12 million, so Bally's has got to be wondering if the interest is actually there.
That didn't stop politicians from spending the non-existent $9 million in fantasy dollars though.
Labels: money questions
posted by SCC at 12:02 AM
32 Comments:
They saw the clientele, the small amount of money and the shootings and other violent crime around the casino. They’re smart enough to see the writing on the wall.
Feds are investigating how the the casino license was awarded. Lightfoot should be concerned.
Maybe the Casino just needs some time for the habitual problem gamblers find it?
Just how big were those water pipes? How much of Chicago and Cook County does those pipes feed?
So remind me. Tell me why a casino couldn’t be located in the Lakeside Center at McCormack Place. With a large floor plan, modern restroom and banquet facilities, the Arie Crown Theatre and accessible underground (protected from the weather) parking, the building is easily accessible. It is hardly used. It is owned by the city, holds no outstanding mortgage and was available. Oh that’s right. It isn’t owned by one of former Mayor Lightfoot’s supporters. Wake up Kwami! Ask some questions.
The odds suck.
You gotta let the humps win once in a while.
Bally's used the test location to see if would make any money. It did not, they went from A+ bond rating to a junk bond rating after they announced a Chicago location. I drive by the River North location last week and it is still being using by the Tribune and Sun Times. Does anyone think Bally's is going to spend more the a billion dollars on that location to be open in two years? The water pipe thing the reason to get out of the deal. Our water comes from the lake and not the river right? No pun intended, but i bet the test location closes one night with no notifications or media, just gone.
I guess the casino isn’t going to bring in enough to save the city.
Fuck you, pay me.
Average hotel occupancy in Shitcago is 63% and declining. With demonstrated casino revenues at Ballys below expectations, a HORRIBLE business climate provided by local government, out of control violence and homelessness growing exponentially, why would someone invest in this city? I’m left to my imagination that someone somewhere is flashing under the table cash to protect old or create new UNION jobs.
Not surprised about this casino being a flop with the fees being charged!
The Hard Rock Casino in Gary, Indiana is nicer and much more convenient to get to right off of I-80, exit 6, with a lot less hassle!
Sports book, prostitution, and city owned shooting galleries for hypes to use is the answer.
Slot machines in Board of Ed facilities would help too.
I do not frequent casinos but know many who do. The talk I hear is odds are better out of state. Any truth to this or just sour grapes?
Easy access is a key ingredient for a successful operation. The Chicago idea is not convenient. The soon to open Hard Rock casino in Rockford is directly off of I90/39 (former site of the Clock Tower Inn) and there's a lot of traffic going by everyday. Lots of parking, far away from the westside ghetto antics of Rockford and the place looks amazing from the outside. It should be open soon and probably will be busy as it will attract a customer base that doesn't want to travel to Elgin, DesPlaines, or Madison.
The gas station slot machines in my state make more than that.
The location selected is unworkable. Did anyone think about traffic flow that is impossible today. How about moving it to the south loop where the sox are looking. The test location is just that, a temporary solution. Oh and BTW, the sox are never going to stay no matter where they put them.
Chicago got started on the casino bus too late.
Should've jumped in back in the early years. Before Rosemont...
This city cant even open one casino right...another bullet point goes on the list for the argument against being a "world class city"...
Other cities have multiple casinos in their midst. They also have an entertainment dictrict/area where things are policed, and cleaned up to a better standard. Not so much here in Chicago.
Chicago has become kind of a dump IMHO...
Disrupting water pipes you mean bongs?
This casino revenue shortfall is what happens when you take away CTA shuttle buses from transporting Chinese gamblers to the casino and use them as warming buses for the migrants
Hog with the big nuts needs to visit Ballys
Save your money Ballys. Chicago is a train wreck.
Water-pipe issue flagged more than a year ago. This is excuse to further delay casino development at Trib site, to point where Bally's folds-up operation and exits Chicago in late 2024, shortly after Dem Convention debacle. Medinah Temple Bally operation is failing to meet income projections, will close in late Fall 2024 too, when Bally's quits Chicago.
This "Bally" not same big casino operator of years ago; this is small-shop operation, bought "Bally" name, not same operators, not same business history, little practical development or casino operation experience. Lightfoot was totally bamboozled; Bally's frankly tainted by Lightfoot legacy.
I’ve family that work in casinos in surrounding burbs and other counties. They’ve seen little to no impact in business from the Chicago temporary casino. Very few want to venture in and put themselves at a higher risk for being a victim of a car jacking or robbery. I also work in a suburban shop close to a northshore suburb. One day, I overheard a customer talking about how her burb’s downtown has experienced a boom of restaurants and bars etc bc nobody wants to bother with going downtown any longer. Many of these same people voted for policies that led to the city going in this direction. Not to mention, the state is over saturated with casinos and when you toss in the number of places with slots that are in out of the way corners all over the state - who needs to venture into an overpriced city where your risk of being a victim of crime is higher?
Why didn't they locate the Casino in a predominantly minority community?
Too much violent crime?
Well the violent crime has been exported up to the Northside. Hahaha ha
It will eventually be moved to O'Hare and Midway.
If Chicago got the casino about 15 years ago it would have been a great success. Now, people fear for their safety in the city and with good reason.
Were there ever to be a casino within the borders of this city, the graft vig would have to be reduced well below the grifters' minimum levels.
That will never happen.
Lightfoot should be thanking her lucky stars that she lost her bid for reelection. Everything she did turned out to be a dud. Did she have any accomplishments in her tenure to be proud of?
Anonymous said...
Not surprised about this casino being a flop with the fees being charged!
The Hard Rock Casino in Gary, Indiana is nicer and much more convenient to get to right off of I-80, exit 6, with a lot less hassle!
1/21/2024 07:02:00 AM
LOL right, sure it is, if you consider a casino floor full of meth heads and crack addicts "nice"!
Get ripped off for parking, keep your head on a swivel getting in. Get ripped off by the casino and then hopefully you make it back to your car without getting ripped off yet again. Folks don't have the disposable income much anymore and nobody wants to go downtown anyway!
It’ll be a place to store more illegals. Mayor Mohawk will fill it to the brim & get Gov. funding to line friends pockets!
LOL right, sure it is, if you consider a casino floor full of meth heads and crack addicts "nice"!
1/21/2024 03:11:00 PM
Never been there, but have heard and read only positive comments about the Hard Rock Casino in Gary until reading your comment. Are you just being cheeky or have you had personal experience that substantiates your claim? Serious question, no sarcasm.
conehead under stress, way over his paygrade, man isn't all there
he appears confused, he's no harold washington
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