CoStar Group – Chicago, IL
In a major coup for the Windy City, Bally’s Corporation has secured a staggering $940 million in financing for its upcoming casino and hotel campus in Chicago. The deal, which was finalized after months of negotiations with a consortium of leading financial institutions, represents a significant milestone in the development of what promises to be one of the most ambitious and exciting projects in the city’s recent history.
The Bally’s Chicago project, which is slated to be located in the heart of the city’s vibrant downtown area, is set to feature a world-class casino, luxury hotel, and extensive retail and dining options. The massive investment will also include state-of-the-art conference and event facilities, as well as a cutting-edge entertainment complex that is sure to draw visitors from across the country.
“We are thrilled to announce that we have secured the necessary financing to bring our vision for Bally’s Chicago to life,” said George Papanier, President and CEO of Bally’s Corporation. “This project represents a significant milestone for our company, and we are confident that it will become a landmark destination for both residents and visitors to the city.”
The financing package, which was arranged by a group of leading financial institutions, is expected to cover the construction costs for the project, as well as provide funds for ongoing operations and marketing efforts. The deal is a testament to the confidence that investors have in the potential of the Bally’s Chicago project, which is expected to create thousands of new jobs and generate millions of dollars in revenue for the city.
According to sources close to the project, construction on the Bally’s Chicago campus is set to begin later this year, with an expected completion date sometime in 2024. The development is expected to revitalize the area surrounding the project site, bringing much-needed economic growth and vitality to the city’s downtown district.
Local residents and business owners have expressed excitement and optimism about the project, with many looking forward to the potential economic benefits and opportunities that it will bring to the area. City officials have also voiced support for the project, touting its potential to create jobs, boost tourism, and enhance the overall quality of life for Chicago residents.
As the project moves forward, Bally’s Corporation is expected to release more details about the design and amenities of the casino and hotel campus, as well as announce partnerships with leading brands and entertainment providers. With its eye-catching design, unparalleled amenities, and prime location in the heart of Chicago, the Bally’s Chicago project is shaping up to be a game-changer for the city’s entertainment and hospitality industry.
For more information about Bally’s Chicago and other projects from Bally’s Corporation, visit their website at www.ballys.com.
