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Rivers Casino

Review Highlights

“ The other restaurants Mian (Chinese), Flipt (fast food), & Coffee Spot (cafe/bakery) are also good. ” in 15 reviews

“ Wow, had a great time at the pre opening event for Des Plaines residents and their guests on Friday, July 15th. ” in 23 reviews

“ By the end of this month when everything is liquidated, I will be visiting the roulette table . ” in 19 reviews

Location & Hours

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3000 S River Rd

Des Plaines, IL 60018

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About the Business

Rivers Casino is Chicagoland's Premier Entertainment Destination! If you are just looking to have some fun on your favorite table games, we offer over 50 table games, including Blackjack, Spanish 21, Craps featuring Fire Bet, Roulette, Baccarat featuring Dragon Bonus Side Bet, Mississippi Stud, 3-Card Poker, Pai Gow Poker featuring Fortune side bet, Pai Gow Tiles, Texas Hold'Em Bonus. We also feature over 1,500 slots including Wheel of Fortune, Dragon Link, Dragon Cash, Lucky 88, Lock It Link and more! From a juicy steak to a tasty stir fry, Rivers has got you covered. We have several dining options to suit any taste including Gibson's—Hugo's Frog Bar and Chop House. …

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Very big and nice. Spacious

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Overall rating

684 reviews

So many things changed since i last came here. Parking where used to be free. Always havw so many alot machines and card tables. Not a gambler but just came here to accompany somebody.

We actually normally have a blast at Rivers, it's clean, plenty of free parking, the games are fun, the drinks are great, and 99% of the time the staff is really awesome. However on Saturday March 23rd, we went to the Casino to hang out and play for a bit at about 10:00pm. My boyfriend went to play Craps and I was blown away at how rude one particular worker was. I wish I had grabbed his name, he was a younger black guy running it but he was so incredibly rude! This particular table itself wasn't busy yet unlike some of the other tables and a few moments after coming to the table my boyfriend pulled out $300 and asks the worker, "Can I get some chips?" My boyfriend didn't yell it or anything so the workers response blew me away- he goes, "I don't know, can you?" My boyfriend has anxiety so he just gave a nervous laugh then the worker rolls his eyes and hands him chips. It was so weird and uncomfortable because we've always had a positive experience with the workers there. I immediately whispered to his ear that maybe we should go to another table but he wanted to stay since this table wasn't crowded unlike the others. However this workers snark continued, he continuously sighed and rolled his eyes throughout the games and even through his hands in the air with another eye roll when he couldn't understand someone's accent next to us. I can't believe Rivers lets someone get away with this behavior. I can understand someone having a bad day but this clearly wasn't a bad day, this was just a snarky attitude. I really hope someone else caught his name and definitely reports him. Let's just hope he doesn't pull that behavior with others who don't have anxiety because if he does that again on someone else, especially if they've been drinking, I can definitely see an altercation happening. I don't really expect Rivers to care though, this guy pulled this attitude on the entire table so I'm sure his coworkers saw as well but blew it off.

This review is for Rivers as a casino. Of course, but why did I write that? Well, one could review it for its showroom or for the various eateries here as well. Anyway, I haven't experienced their showroom, but I have experienced their poker room. The whole casino is non-smoking so that's nice for most of us. I have no complaints about the poker room operation, but I also only come here at non prime time to avoid much of a wait for a table opening. Even during the early weekday afternoons, there's sometimes a 15 minute wait for a table opening. I've heard the wait in the evenings and on the weekends can be 1-2 hours, and that's not for me. They now also have a remote game signup using a Bravo Live app and you can sign up 90 minutes in advance of checking in at the receptionist desk, and that's quite handy. The attached photo shows the poker games available at Rivers, but I personally only play 1-3 NLH poker ($1 small blind, $3 big blind, no limit Texas Hold'em). All of the dealers I've encountered are good, competent, and courteous pros. The room is well lit and comfortable (if not sometimes cool, so bring a light jacket or fleece if you're a borderline coldie like me) and it's a popular poker room with often 10 tables going. I believe there are 22 tables in total, but I'm not sure if they're staffed anymore to run them all at once. Cashing in or out is usually pretty quick. On the weekdays, they have hourly high hand promos worth about $500 (ie, the highest hand amongst all the tables in any one hour span is awarded $500). The casino is physically pretty close to me and that makes visiting quite easy, which is good for me, but if you're an addict it may not be so good. The garage parking capacity is always plentiful. Thumbs up from my experience!

See all photos from Howard L. for Rivers Casino

Spectacular hosts, drinks and gaming. Great getaway for fun with friends. Wheelhouse restaurant has awesome food.

After getting in from the airport at 12:30 am with a five year old who was hungry, we were less than greeted by security stating "there is no food here for the five year old here." I guess an uneducated security guard can't explain it's a 21 an over only casino and not taking it back to the days of "you are not welcome here, there is a place down the road!" What type of backwoods establishment is this? Oh well saved money I guess. Enjoy your job security guard/door man.

They are so tight that you can't win a thing. Lost so much in 2 hours! Their video poker machines barely work. Very limited in kinds of poker games. If you are dealt a 3 of a kind you will never get the 4th. They for sure have set the machines to pay out at a very low minimum. The owners of the casino should be ashamed! Guess they can't get rich enough.

Overall I thought it was just okay. 4 stars for the spacious and clean restrooms; fancier than most wedding receptions' bathrooms! That being said, as a first timer-it can be quite confusing as far as the layout and where is what with being relatively and slightly overcrowded and overwhelming. Tons and tons and rows and rows of several slot machines on multiple floors. Played Roulette. Lost it all. I don't even understand how this is legal. Expensive restroom.

I don't gamble just came in for the experience due to FREE PARKING! Ofc drinks are expensive. $30 for two strawberry margs, the bartender knew they were good so he came over to ask if we need more strawberry purée! Thank god he asked because I probably would've had to ask. That was sweet of him. I find it crazy they don't have any type of menu at the bar so it's priced however??? It's 2023 at least get a somewhat of a cocktail menu. Overall cool place, I'll try the restaurant next time I'm in. All the staff was in a great mood so 10/10 for me!

Terrible! Even though I'm a member, management wouldn't let me enter because they thought I was drunk even though i hadn't had a single drink tonight. Screw these guys

I won money and the Air supply show was amazing! The casino seemed very clean and well staffed! Parking is very convenient!

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Rivers Casino

3000 S. River Road, Des Plaines, IL 60018

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This Week In Illinois History: Riverboat Gambling Comes To Illinois (Feb. 7, 1991)

Illinoisans have bet on horseracing since 1927, purchased Lottery tickets since 1974 and gambled for non-profit charities since 1986.

But on Feb. 7, 1990, Gov. James Thompson signed the Riverboat Gambling Act , laying odds on economic development and tourism.

With a blackjack table as a desk, the signing ceremony took place at the Peoria Boatworks. A steamboat blasted its whistle while a calliope played “ Happy Days are Here Again .”

The newly created Illinois Gaming Board granted 10 licenses, giving preferential treatment to economically depressed areas outside the Chicago area. Riverboat casinos could operate only on water and gambling was permitted only after the boats left the dock.

The first license went to Alton, which launched Illinois’ first riverboat casino, the Alton Belle, on Sept. 10, 1991. The three-deck, 600-passenger boat held 296 slot machines and 22 gambling tables.

In the first year, riverboat gambling brought in $8 million in tax revenue. The next year, it raked in $54 million, surpassing horseracing revenue.

On May 21, 1999, Gov. George Ryan signed a new Riverboat Gambling Act, which allowed gambling to continue on riverboats while they remained dockside. The new law, however, allowed an easy work-around. Rivers Casino in Des Plaines, for example, dug a shallow pit on dry land, filled it with water, and built a casino over it.

Riverboat gambling tax revenue peaked at $699 million in 2005.

In June 2019, Gov. J.B. Pritzker signed legislation allowing Illinois’ 10 riverboat casinos to move operations to dry land, effectively tapping out this brief and quirky footnote to our state history.

The Illinois Casino Gaming Association plays a vital role in coordinating industry initiatives, including advocacy and education, focusing on issues such as economic development, community service, and responsible gaming. The association's objective is to ensure that gaming is conducted safely, fairly, and transparently while promoting positive contributions to the local communities. Through its rigorous efforts, the association serves as a robust platform for initiating change and fostering growth within the gaming industry. With its unwavering commitment to responsible gaming, the association seeks to promote awareness and education on the importance of ethical gaming practices. In doing so, it strives to create a gaming environment that is both safe and enjoyable for all. By coordinating and advocating for industry initiatives, the Illinois Casino Gaming Association is an indispensable resource for the gaming industry and the communities it serves.

The Illinois Casino Gaming Association is more than an organization – it's a commitment to excellence, responsibility, and community.

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The Illinois Casino Gaming Association is not just an ordinary organization, it's a dedicated commitment to excellence, responsibility, and community. We invite you to join us in our ongoing effort to shape the future of gaming. Our aim is to create a vibrant and responsible industry that brings joy, entertainment, and prosperity to all.

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New Bally's renderings revealed, as company says it secured funding for permanent Chicago casino

Bally's took possession of Chicago Avenue property last week

CHICAGO (WLS) -- Bally's revealed new renderings Friday, after saying it secured funding for its permanent Chicago casino.

The site plan includes a 500-room, 34-story hotel tower at the former Tribune Publishing site, pending approval from the Chicago Department of Planning and Development, a news release from the casino company said.

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The tower would be on the southern end of the casino development near Ohio Street along the Chicago River.

READ MORE | Bally's lays out new plans for hotel on top of Chicago casino

Earlier this year, the hotel tower was moved due to the possible damage of underground water pipes, and an adjusted design for a two-phase hotel was approved.

The plans now call for the casino and hotel to be built together as one project.

"We've been working hard in the background to restore the full hotel tower for Bally's Chicago Casino and absolutely intend to meet the September 2026 opening date as planned," Bally's Corporation President George Papanier said in a statement. "We are also happy to announce that Gaming and Leisure Properties has agreed to finance this entire development in a single phase to ultimately deliver a better project in a more efficient manner."

Gaming and Leisure Properties expects to give Bally's $2.07 billion in funding, the release said.

In a statement Friday, Mayor Brandon Johnson said, "The City is pleased with this development concerning the financing and construction of Bally's Permanent Chicago Casino. We look forward to reviewing the updated plans and proceeding through the review process with the Department of Planning and Development."

On July 5, Bally's took possession of the site, located at 777 W. Chicago Ave., and preparation for demolition has begun, Bally's said.

Last month, a report suggested Johnson had some reservations about the project.

But Bally's said it has continued full steam ahead.

In May, Bally's reported the highest monthly revenue from its River North temporary facility since it opened in September.

The mayor's office downplayed concerns about Johnson's support of a permanent casinos, saying, "The city is pleased that Bally's has reached its highest revenue numbers so far, and continues to be committed to the permanent casino project."

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Business | Bally’s Chicago secures casino financing,…

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Business | Bally’s Chicago secures casino financing, unveils new hotel design

Bally’s announced a deal Friday with Gaming and Leisure Properties, a Pennsylvania-based real estate investment trust, to provide $940 million to fund the construction of the permanent casino.

In addition, Bally’s has also finalized redesign of its planned 500-room hotel tower, which has been shifted from north of the casino to the south to avoid damaging city water pipes along the Chicago River, pending approval from the city’s planning department.

“We’ve been working hard in the background to restore the full hotel tower for Bally’s Chicago Casino and absolutely intend to meet the September 2026 opening date as planned,” George Papanier, president of Bally’s Corp., said in a news release Friday. “We are also happy to announce that Gaming & Leisure Properties Inc. has agreed to finance this entire development in a single phase to ultimately deliver a better project in a more efficient manner.”

The financing package and revised site plan should allay concerns expressed by analysts, investors and the city itself that Bally’s didn’t have the financial wherewithal to build the permanent casino.

In 2022, Rhode Island-based Bally’s won a heated competition to build Chicago’s first casino. The glitzy proposal included an exhibition hall, a 500-room hotel, a 3,000-seat theater, 10 restaurants and 4,000 gaming positions overlooking the Chicago River.

Bally’s Chicago launched a temporary facility at Medinah Temple in September, with plans to open the permanent casino by September 2026. But the odds against the casino complex being built as planned seemed to be increasing by the month this year.

In January, Bally’s announced that the hotel tower would need to be relocated from its designated spot at the north end of the site after it was determined that driving caissons into the ground might damage municipal water management infrastructure pipes.

The initial plan called for a 100-room hotel base near the Chicago River, with a gleaming 400-room tower built on top of it within five years of opening the permanent casino.

The new site plan by design firm HKS switches to a single-phase development and flips the casino layout, moving the 500-room hotel tower to the south of the entertainment complex, where it’s still on the river, but away from the infrastructure issues.

Soo Kim, chairman of Bally’s and founding partner of its largest shareholder, New York hedge fund Standard General, told the Tribune Friday that securing project-level financing for Chicago through a sale-leaseback of its properties has been in the cards for some time.

“We’re actually funding an amount that’s larger than originally anticipated, because we’re interested in completing the scope of the project,” Kim said. “It’s a sign of confidence that we are lining up the money to build out the more substantial project in one fell swoop.”

Gaming and Leisure Properties has a portfolio of 65 locations across 20 states, including several Bally’s properties. The business model entails buying, financing and owning the land, then leasing it back to gaming operators.

Terrence Antonio James/Chicago Tribune

The Bally's Chicago casino, in the former historic Medinah Temple, is seen in a long exposure as traffic flows on Dec. 8, 2023.

Slot machines glow through the windows of Bally’s temporary casino at Medinah Temple in Chicago on April 11, 2024. (Chris Sweda/Chicago Tribune)

Bally’s Casino at Medinah Temple in Chicago on April 11, 2024. (Chris Sweda/Chicago Tribune)

John J. Kim/Chicago Tribune

Gaming machines are visible through the main entrance to the Bally's casino at Medinah Temple, Sept. 8, 2023, in Chicago. The casino opened a day later.

Antonio Perez/Chicago Tribune

Slots are seen from outside following Bally's casino ribbon-cutting ceremony, Oct. 3, 2023.

An artist's rendering shows the proposed $1.74 billion Bally’s Chicago casino, hotel and entertainment complex at the site of the Chicago Tribune Freedom Center, located on the corner of Chicago Avenue and Halsted Street. Credit is Bally's/SCB

Trent Sprague/Chicago Tribune

Signage for the Bally's Chicago casino appears at the former Medinah Temple in River North, shown July 18, 2023.

A man at Bally's casino for a ribbon-cutting ceremony, Oct. 3, 2023.

Chris Sweda / Chicago Tribune

People walk past the historic Medinah Temple at 600 N. Wabash Ave. in Chicago, on Feb. 23, 2023. The building is scheduled to be the home of a temporary casino that Bally's hopes to open this summer.

Friedman Properties

Workers place a copper dome atop one corner of the Medinah Temple in this undated photo. Once owned by Friedman Properties, Bloomingale's department store was a tenant of the space, in the Near North neighborhood.

Antonio Perez / Chicago Tribune

The Medinah Temple in Chicago's Near North neighborhood.

John J. Kim / Chicago Tribune

The Bloomingdale's store, housed in the historic Medinah Temple, owned by Friedman Properties, in the Near North neighborhood is seen on June 13, 2019, in Chicago.

Abel Uribe / Chicago Tribune

People walk near the historic Medinah Temple and former Bloomingdale's store on Feb. 27, 2018.

Morning traffic moves along Ohio Street by the Medinah Temple in Chicago on Sept. 30, 2022.

A man bikes near the Medinah Temple in Chicago's Near North neighborhood on Sept. 30, 2022.

The Medinah Temple, 600 N. Wabash Ave., in Chicago.

The historic Medinah Temple, 600 N. Wabash Ave. in Chicago's River North neighborhood, is seen on Feb. 23, 2023. Bally's hopes to open the site as its temporary casino this summer.

Mayor Brandon Johnson and Bally's Chairman Soo Kim attend Bally's casino ribbon-cutting ceremony, Oct. 3, 2023.

Bally's casino in Chicago, Oct. 3, 2023, in the historic Medinah Temple.

Val Mazzenga/Chicago Tribune

Then-State's Attorney Richard Daley and his wife, Maggie, acknowledge the crowd at a "Daley for Mayor" rally at Medinah Temple on North Wabash Avenue in Chicago on Feb. 2, 1983.

Bloomingdale's, once housed in the Medinah Temple, owned by Friedman Properties, is seen in the Near North neighborhood on June 13, 2019, in Chicago.

The Medinah Temple is shown in this undated photo. Once owned by Friedman Properties, Bloomingale's department store was a tenant of the space, in the Near North neighborhood.

The Medinah Temple is seen on Sept. 30, 2022.

The historic Medinah Temple in Chicago is seen on Sept. 30, 2022. The city is releasing a study — paid for by the city's chosen casino developer — on the potential traffic impact of putting the temporary casino at the site.

A Bally's casino hiring notice is posted on an exterior door to the Medinah Temple on Feb. 23, 2023.

An artist's rendering shows the proposed Bally’s Chicago casino, hotel and entertainment complex at the site of the Chicago Tribune Freedom Center, located on the corner of Chicago Avenue and Halsted Street.(Bally's/SCB)

Gerry Souter/Chicago Tribune

Workers compile election returns in the basement of the Medinah Temple on Nov. 3, 1964.

Gerry Souter / Chicago Tribune

Workers compile election returns in the basement of the Medinah Temple on Nov. 3, 1964. The workers are students from Northwestern University, NBC staff, Moore Girls Employment Service and Northwestern University staff.

John Irvine/Chicago Tribune

The Medinah Temple is seen on Jan. 4, 1990.

Nancy Stone/Chicago Tribune

Two-year-old chimpanee Saboo holds on to his owner, Pamela Rosaire Zoppe, onstage at the Medinah Temple on March 4, 1999, as they prepare for the final Shrine Circus performances at the venue.

Carl Wagner/Chicago Tribune

A 1999 view shows the 42,00-seat auditorium that was inside the Medinah Temple.

Phil Greer/Chicago Tribune

The exterior of the Medinah Temple is seen in 1998.

A bartender works in the Ivy Room at Tree Studios, owned by Friedman Properties, in the Near North neighborhood on June 13, 2019, in Chicago.

Pedestrians stroll past the Medinah Temple at Wabash Avenue in Chicago on Sept. 30, 2022.

Rick Musacchio / Chicago Tribune

Ed Asner, actor and political activist, helps distribute Mondale-Ferraro signs for a rally at Medinah Temple on Oct. 30, 1984, in Chicago.

Scott Strazzante/Chicago Tribune

A January 2003 view from the top floor looks down into the atrium and the elevator of the Bloomingdale's Home Store inside the Medinah Temple in Chicago.

Rugs are on display at Bloomingdale's, housed in the historical Medinah Temple, owned by Friedman Properties, in the Near North neighborhood on June 13, 2019, in Chicago.

Real estate developer Al Friedman describes the stained-glass renovations he made for the Bloomingdale's store, housed in the historical Medinah Temple, owned by Friedman Properties, in the Near North neighborhood on June 13, 2019, in Chicago.

The Medinah Temple once housed an auditorium, as seen in this undated photo. Once owned by Friedman Properties, Bloomingale's was a tenant of the space, in the Near North neighborhood.

Furniture items are on display at Bloomingdale's, housed in the historic Medinah Temple, owned by Friedman Properties, in the Near North neighborhood on June 13, 2019, in Chicago.

People walk and bike near the Medinah Temple at Wabash Avenue and Ontario Street on Sept. 30, 2022. The four-story Moorish Gothic building was built in 1912 and originally owned by the Chicago chapter of the Ancient Arabic Order of the Nobles of the Mystic Shrine — the Shriners. The onion-domed building once contained a 4,200-seat auditorium that hosted everything from political rallies to the Shrine Circus. The building was renovated and a Bloomingdale's home furnishings store opened in the structure in 2003.

The historic Medinah Temple is distinguished by its onion domes, shown Feb. 23, 2023.

Armando L. Sanchez / Chicago Tribune

The Medinah Temple at 600 North Wabash Avenue, March 14, 2023, in Chicago.

The Medinah Temple at 600 N. Wabash Ave., March 14, 2023, in Chicago. The building is scheduled to be the home of a temporary casino that Bally's hopes to open this summer.

Bally’s expects to raise more than $2 billion through the transactions with Gaming and Leisure Properties, which include sale-leasebacks on the Bally’s Kansas City and Bally’s Shreveport properties for $395 million, the company said. Gaming and Leisure Properties also has a previously announced purchase option on Bally’s Lincoln Casino Resort in Rhode Island, which has been adjusted to a lower price of $735 million.

In November 2022, days after acquiring the Freedom Center site for $200 million, Bally’s executed a sale-leaseback on the property with Chicago-based Oak Street Real Estate Capital, raising up to $500 million to help build the permanent casino.

As part of the transaction, Gaming and Leisure Properties is also acquiring the Freedom Center site for $250 million before development begins.

Lance Vitanza, senior analyst in TD Cowen’s equity research group, called the financing and sale-leaseback deals a “very good outcome” for Bally’s and its investors.

“It should allay a lot of concerns about Bally’s asset mix, its leverage, its liquidity,” Vitanza said Friday. “To have GLPI coming in and sort of underwriting Bally’s business plan, at least for its domestic casinos, it’s really meaningful.”

Bally’s owns and operates 15 casinos across 10 states. It made its entree into Illinois in June 2021 with the $120 million acquisition of Jumer’s Casino & Hotel in Rock Island, which it renamed Bally’s Quad Cities.

Concerns about financing the Chicago casino project surfaced in February when Bally’s revealed it needed to bridge an $800 million funding gap to cover remaining costs to build the permanent Chicago casino as planned.

Some analysts suggested a tight credit market and Bally’s debt-heavy balance sheet might force the casino company to delay or downsize the permanent Chicago casino.

Even Chicago Mayor Brandon Johnson expressed doubts last month, saying it was “still to be determined” whether the full $1.7 billion entertainment complex would be built as planned.

The project took a major step toward that goal with Friday’s financing announcement.

“With keys to the property in hand, the new financing secured, a site plan that exceeds the original, and demolition set to start this summer, let there be no doubt that Bally’s Chicago Casino and Hotel will soon rise up along the Chicago River,” Papanier said.

The city issued a statement Friday morning echoing those sentiments in the wake of Bally’s financing and refreshed site plans.

“The City is pleased with this development concerning the financing and construction of Bally’s Permanent Chicago Casino,” Mayor Johnson said. “We look forward to reviewing the updated plans and proceeding through the review process with the Department of Planning and Development.”

Building what would be the state’s largest casino may be crucial to meeting the ambitious financial goals of both the city and Bally’s.

After a record-breaking May, revenue fell by 11% last month at the Bally’s Chicago temporary casino, which generated $10.4 million in adjusted gross receipts, according to data from the Illinois Gaming Board.

Bally’s Chicago admissions, however, were up 1% for June to nearly 120,000 visitors, ranking second behind Rivers Casino Des Plaines, which remains the busiest and top revenue-generating location among the state’s 15 casinos, according to the monthly data.

The temporary Bally’s facility celebrated its millionth visitor last month, gifting them with a cruise for two and $1,000.

Statewide casino revenue was down nearly 4% to $138 million in June, with more than a million visitors for the month, according to Gaming Board data.

Through the first six months of 2024, Bally’s Chicago generated $62.8 million in adjusted gross receipts and more than $6.8 million in local tax revenue at its temporary River North casino, according to Gaming Board data.

Bally’s was projected to generate $243 million in adjusted gross receipts and $35 million in gaming taxes for Chicago this year.

While the city could still see significant upside from Bally’s through the graduated wagering tax, which goes up as the casino’s cumulative annual revenue increases, long-term growth hinges on the planned permanent casino at the soon-to-be demolished Freedom Center printing plant site in River West.

Last year, Bally’s agreed to pay Tribune Publishing, owner of the Chicago Tribune and other newspapers, $150 million to vacate the 43-year-old Freedom Center by July 5 to break ground on the new casino complex. The Tribune shifted printing operations in May to the former Daily Herald facility in Schaumburg, which it purchased for an undisclosed price.

Bally’s took possession of the site last week, with trucks, trailers and the Brandenburg Industrial Service demolition company setting up shop to begin the process of reducing what was once the largest newspaper printing plant in North America to rubble.

Meanwhile, the Chicago Tribune opened its new newsroom this week in the historic Brooks Building at 223 W. Jackson Blvd. in the Loop, its fourth editorial home in six years since being booted from Tribune Tower in 2018.

While financing concerns about building the Chicago casino may have been assuaged Friday, Bally’s is still navigating some uncertainty in the wake of an ongoing buyout offer from its largest shareholder.

In March, hedge fund Standard General, which owns 26% of Bally’s, submitted an offer to buy out the rest of the stockholders at $15 per share, valuing the company at about $648 million. The Bally’s board formed a special committee and retained Macquarie Capital as its financial adviser to evaluate the offer and explore strategic alternatives.

Bally’s has not provided any updates on the status of the buyout offer since March.

The company’s stock gained more than 6% Friday, closing at $13.44 per share.

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With latest Bally's Casino plan, city risks doubling down on a bad bet

Bally’s has secured $940 million to build the river west casino, but the terms of the deal, the saturated gaming market and the underperforming temporary casino raise questions that ought to be answered publicly at city council hearings, an alderman writes..

Dozens of people wait in line for Bally’s temporary casino top open on Sept. 9, 2023. Bally’s is busing in people from the South Side and Chinatown to bolster the underperforming casino, Ald. Anthony Beale writes.

Pat Nabong/Sun-Times

An age-old truth, well-known by gamblers, holds that you should never chase your losses. With Bally’s Chicago Casino, the city risks doing just that.

Bally’s promised to uplift Chicago’s economy, and, perhaps most importantly, improve the city’s overall financial situation. As then-Mayor Lori Lightfoot said in a video announcement , Chicago’s first casino was supposed to represent “a once-in-a-generation opportunity.”

So far, it hasn’t. The temporary casino at Medinah Temple continues to fall far short of Lightfoot’s plan. Bally’s is underperforming, and neither the city, nor the police and firefighter’s pension funds that were supposed to be bolstered by its revenue, can afford it.

Rather than focusing on attracting tourists and business travelers to Medinah, Bally’s is busing in Chicagoans from the South Side and Chinatown, the very type of predatory practice Bally’s said it would not do. There is a whiff of desperation here that should be no surprise. Bally’s temporary casino had the second-lowest revenue per visitor in the state in June. The only casino that performed worse? Bally’s Rock Island casino.

And we are still only talking about the temporary casino. The Chicagoland area has a well-developed market with existing casinos, sports betting venues and online gaming at social casinos. Bally’s permanent casino will need to be best-in-class to succeed in this saturated market.

Bally’s recently trumpeted that it has secured funding to build the permanent casino in River West. The media generally covered it as a positive development. Yet the facts show otherwise. Bally’s didn’t go to a mainstream financial institution and secure a standard loan. Instead, it made a deal with a company called Gaming and Leisure Properties Inc. In exchange for up to $940 million, Bally’s must sell to GLPI the land where the Chicago casino will be developed and had to sell the property Bally’s owns at its casinos in Kansas City, Missouri, and Shreveport, Louisiana, along with making other financial commitments.

A bait-and-switch on the permanent casino site

Buried in Bally’s announcement is the real news: GLPI will not only own the land under the Chicago casino, it will also own the entire casino, hotel building and all the amenities. The city originally entered into an agreement and approved Bally’s as the developer and owner, but Bally’s is now just a “strategic stakeholder” according to its own press release . All that Bally’s will now own is the casino license and the equipment to operate the casino.

Bally’s will simply be leasing the casino for about $100 million annually altogether. This puts an extremely high leverage burden on the project, especially for Bally’s, which is one of the worst capitalized companies in gaming. This doesn’t bode well for the bet Chicago made on the casino’s future or the police and fire pension funds.

Lightfoot wears the jacket for this mess, which the current city administration now must deal with.

Bally’s underperforming temporary casino, predatory marketing, bait-and-switch on the permanent casino, huge lease payments and weak corporate balance sheet all raise serious questions about the casino’s future. I am not alone in that assessment. Bally’s investors have themselves written to its board raising doubts about the project.

Financial ratings firms Moody’s and Fitch have downgraded Bally’s since March, with S&P Global highlighting “development and execution risks” for the proposed permanent casino.

City Council must hold hearings to address both Bally’s material underperformance and the role of GLPI. We need to know who is going to be accountable for the casino moving forward. Bally’s needs to put its cards on the table, explain why the temporary casino is performing so badly and why Bally’s is now selling the casino site to an entity that was not part of the request for proposals process, is not a signatory to the agreement with the city of Chicago and is not approved by the Illinois Gaming Board.

The people of Chicago deserve better. This is too important to get wrong. It’s time for us to stop chasing our losses.

Ald. Anthony A. Beale represents the 9th Ward on the South Side.

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RNC Day 4: Trump delivers longest acceptance speech in history

MILWAUKEE -- On the fourth and final day of the Republican National Convention, former President Donald Trump gave a highly anticipated speech, which he said beforehand would call for unity following his assassination attempt.

However in his first speech since the incident, Trump leaned into his usual talking points, slamming President Joe Biden , Democrats and other critics on a wide variety of issues from the economy, immigration and crime.

For over an hour, Trump went off script much to the crowd's delight. The former president told them he was grateful for their support after his brush with death but argued that the country needed to be fixed due to Biden's policies.

The night also included wild speeches from guests such as Hulk Hogan and Eric Trump, who echoed some of the former president's rhetoric bashing Biden and the Democrats.

Key Headlines

• 3:57 AM GMT Trump's unity message doesn't last long into speech
• 3:20 AM GMT Trump takes direct jab at Biden
• 3:07 AM GMT Trump went off script
• 2:56 AM GMT Trump addresses shooting victims
• 2:17 AM GMT Melania Trump arrives at RNC
• 1:46 AM GMT Hulk Hogan riles RNC crowd, rips off shirt

Trump wraps up speech

Trump has concluded his keynote speech, with his family joining him on stage.

"America's future will be bigger, better, bolder, brighter, happier, stronger, freer, greater and more united than ever before," he said. "And quite simply put we will very quickly make America great again."

This was the longest acceptance speech in history

Trump's acceptance speech lasted 1 hour and 33 minutes. That makes it the longest presidential nomination acceptance speech in recorded history. The previous record was 1 hour 15 minutes, also set by Trump in 2016.

'He's playing the greatest hits from 2016': Biden adviser

An adviser to President Joe Biden further criticized Trump's speech.

"He's playing the greatest hits from 2016," the adviser told ABC News. "Trump has not changed, he has not moderated, he has gotten worse, and he is making no appeal to moderates."

'All about him': Biden adviser

An adviser to President Biden told ABC News Trump's speech was "all about him, no plan for future, exactly what people hate about politicians."

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• U.S. & WORLD
• DONALD TRUMP
• REPUBLICANS

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