Bally’s extension to temporary Chicago licence included in Illinois omnibus revenue bill

For much of this year, Bally’s Chicago casino project faced a big dilemma — the company’s temporary licence was set to expire 9 September, meaning without a extension from the state legislature, the temporary facility would have had to close before the completion of the permanent casino. Given the current projection of an early 2027 opening, that would’ve meant several months with no income in the market.

That dilemma was quietly settled in the waning hours of Illinois’ legislative session, as the extension language was included about halfway through the state’s 1,600-page omnibus revenue bill SB3019. The legislation passed both chambers 1 June before the session adjourned and awaits Governor JB Pritzker’s signature.

Based on the language of the bill, Bally’s would essentially be granted up to another year for its temporary licence, moving the expiration date to 9 September 2027 instead.

For a fee of $10,000, the Illinois Gaming Board “may extend the period during which the licensee may conduct gaming at a temporary facility by up to 18 months, and the Board may authorize no more than 2 additional 3-month extensions” to the Bally’s licence, the bill says. When factoring in the time the temporary casino has already operated, that would equate to a maximum of 12 more months if both three-month extensions were to be granted.

Both Bally’s and the IGB confirmed the passage of the extension but did not comment further.

Standalone bill stalled out

The extension language from SB3019 appears to match that of HB4437, a separate bill filed specifically for the Chicago casino project. That bill was introduced in January but failed to gain traction — the session adjourned while the bill was still with the House Rules committee, where it had sat since 27 March. HB4437 was filed by Representative Kam Buckner, who was not among the revenue bill’s sponsors.

When the initial bill was filed, Bally’s said in a statement that an extension “provides operational certainty and allows Bally’s Chicago to remain fully compliant with its Host Community Agreement with the City of Chicago, ensuring uninterrupted service for guests, continued employment for team members, and ongoing economic contributions to the City”.

Buckner, for his part, was more blunt. He told the Chicago Sun-Times at the time that “the whole thing may be in jeopardy” and that it was “fair and healthy to have doubts” about Bally’s ability to meet the September deadline. Technically, state law only allows for two-year temporary licences, but Bally’s already received a 12-month extension to three years in 2023.

Another key stakeholder in the development is Gaming and Leisure Properties, which provided $940 million in construction financing for the project and also bought the real estate for $250 million. The REIT has been unperturbed about the looming deadline, telling iGB earlier this year that “an extension of the temporary licence is not impactful, in any way, to GLPI.”

Bally’s Chicago just one of many projects

With the extension settled, Bally’s can now breathe a sigh of relief as it builds out the $1.8 billion permanent casino. To this point, the process has been hampered with several setbacks, and the temporary casino at Medinah Temple has underperformed relative to budget expectations.

Since beginning construction, Bally’s has had two work stoppages — one related to debris overflow into the Chicago River and another for unapproved contractors with ties to organised crime. The company also had to significantly alter and re-submit its hotel design due to potential interference with city water lines.

Until recently, the company had not officially acknowledged the potential of missing the September deadline. That was confirmed last month, however, when Chairman Soo Kim said the project would be done “early next year” at the casino’s topping-off ceremony. At that time, the extension hadn’t been finalised, but Kim asserted to reporters that he was “confident that we will have good outcomes in Springfield”.

The permanent Bally’s Chicago casino was considered the company’s flagship property when construction began. But now it’s almost gotten lost in the shuffle, given Bally’s frenetic pace of change. Since winning the Chicago licence, Bally’s has also won a New York City licence for its $4 billion golf course and resort in the Bronx, and it has begun working on a $1.19 billion Las Vegas Strip project adjacent to the A’s baseball stadium.

Additionally, the company has expanded greatly outside of the US. Since the start of 2025, Bally’s has acquired majority interests in Star Entertainment and Intralot, and last week agreed to acquire Evoke in an all-share deal worth $325.2 million.