Bally's Chicago Watch

A casino in Chicago, what could possibly go wrong? Dedicated to exposing the truth about the Bally's Chicago casino project. Not affiliated w/ City or Bally's.

[Bally's Chicago Watch @BallysWatch]

PSA: For any community where @BallysCorp shows up.

Because of their terrible execution a broke City of #Chicago is essentially subsidizing a #casino owned by a billionaire.

Taxpayers likely on the hook for $18.6 million in '24 & $19.6 million in '25. You've been warned.

[Mitchell Armentrout @mitchtrout]

Mayor Brandon Johnson drastically lowers expectations on tax revenue from the temporary Chicago casino in his new budget proposal — $16.5 million, less than half the windfall projected in his first budget.

On track for ~$15 million this year. Background: https://t.co/ZuGo13em6h

[Bally's Chicago Watch @BallysWatch]

Agree 100% with @CrainsChicago @GregHinz

@LoriLightfoot didn't just fail this ethics test, she & @chicagosamir failed Chicago.

An "F" for taxpayers. An "A+" for feathering her nest.

[Bally's Chicago Watch @BallysWatch]

Did Mayor Lightfoot have control over these fine civil servants who were meeting on May 2, 2022 to make the "selection" later that day and roll it out on May 5? Get the "notes" of the "Evaluation Committee" and see who made the decision. It sure as hell wasn't the City Council.

[Alice Yin @byaliceyin]

The question now could be, did Mayor Lightfoot have management authority over the Bally’s contract? Which she signed. there any case law on this?

[Bally's Chicago Watch @BallysWatch]

Old enough to remember when @LoriLightfoot claimed that Bally's would be doing $638 million & generating $107 million in gaming taxes to fund pensions in 2026!

Everyone can see why you personally picked Bally's: virtue signals for thee, professional services fees for me!

[Crain's Chicago Business @CrainsChicago]

Lightfoot claims Bally’s work doesn’t violate revolving door rules https://t.co/QziW3F4Vey

[Bally's Chicago Watch @BallysWatch]

The Chicago Way: blow millions in legal fees on a fight that costs more than Bally's & video gambling will generate in taxes.

Slot taxes require struggling families losing hard-earned cash. The city sucks at economic development & is focused on extracting income from us instead.

[Crain's Chicago Business @CrainsChicago]

Bally’s escalates fight over video gambling, threatening legal action https://t.co/zSmNFxE7T0

[Bally's Chicago Watch @BallysWatch]

What we have right here is a Charlie Foxtrot of Chicago City Hall-sized proportions.

@chicagotribune & @byaliceyin detail the train wreck as the city council tries to have their cake and eat it too.

https://t.co/tEMxeKtsRz

[Bally's Chicago Watch @BallysWatch]

@TouzokuKID @stevebrubaker Between NYC and Vegas, Chicago and state taxpayers got the least from Bally's. They can promise the moon, but their execution is terrible. The Bally's corporate financials are junky as the Chicago holding company. They owe a lot of money to a lot of people.

[Bally's Chicago Watch @BallysWatch]

Your quarterly update on Bally's Chicago:

Loss of $27.7M including $261K on F&B non-gaming

"Going concern" warning remains

Burned $64.5M in cash & have $ $13M on hand

Still have a $600M funding gap

They have destroyed $224.9M in value & have a negative net worth of $142.7M

[Bally's Chicago Watch @BallysWatch]

She "personally fought" to make the worst possible choice & wants you to remember. The results:

✔️Won't open until '27 - late
✔️Never hit tax projections
✔️Bally's charging Chicago investors 11% interest on their money invested in this scam
✔️Casino lost $104 million last year

[Bally's Chicago Watch @BallysWatch]

Who pitched this to @JBPritzker?

Follow the money. No more public board, no more open meetings, no more independent votes on licenses worth millions.

Mobsters, cartels, and gangsters have long wanted to cash in. In '26 their champion is billionaire-casino owning Priztker?

[Bally's Chicago Watch @BallysWatch]

Here's the map link of pending applications with the Illinois Gaming Board:

https://t.co/ikeYhkhyDH

[Bally's Chicago Watch @BallysWatch]

Bally's sucks & never should have been picked. But, soon the city will be overrun with neighborhood slots.

City gets a nickle for every dollar gambled away at VGTs. At the casino, it's ~30+ cents.

Gambling here, there, & everywhere, for less tax money. That's the Chicago way!

[Bally's Chicago Watch @BallysWatch]

Bally's was given Chicago's only casino license:

All 3 ratings agencies rate their debt as junk
Bonds trading at 66 cents
Chicago owes IL up to $95M in reconciliation tax & has ~$12M cash
Co. has $5 billion in debt & promised a $4B casino in the Bronx & a Las Vegas mega-project

[Bally's Chicago Watch @BallysWatch]

The CFO of Bally's Chicago resigned on the exact same day the company filed an annual report warning it may not survive as a going concern. That's not a coincidence. That's a signal.

📄 Source: 10-K filed March 31, 2026, SEC EDGAR File No. 333-283772.

[Bally's Chicago Watch @BallysWatch]

Bally's Chicago filed its SEC required annual report:

$12M in cash, burning through $70+ M per year

Likely owes state 1st installment of reconciliation payment of $9-13 M in Sept. '26

The co. & auditors share "substantial doubt about our ability to continue as a going concern"

[Bally's Chicago Watch @BallysWatch]

Bally's Chicago lost $104M last year. Know who made money? Their parent company, which charged the Chicago casino $60M in "management fees." That's 46 cents of every dollar in revenue going to Providence, RI.

Chicago taxpayers got $15.8 million in tax revenue for pension funds.

[Bally's Chicago Watch @BallysWatch]

Since Bally's & GLPI confirmed they aren't going to make the opening date, @ChicagosMayor should start negotiations to get the damages taxpayers are entitled to.

Bally's pays itself a $5 million/month mgt fee. In a tough budget, go get what you're contractually entitled to!

[Bally's Chicago Watch @BallysWatch]

Chicago media should learn one thing & it's that Bally's never tells the truth.

GLPI, the company financing & overseeing construction of the casino, confirmed last week there is ZERO chance the permanent property opens in 2026. They hope for first HALF of 2027.

@AldReilly

[Bally's Chicago Watch @BallysWatch]

The incompetence is staggering, yet nothing involving this deal is ever on the level.

From Bally's Host Community Agreement, the EAV at permanent site shall be $125 million and that the company shall not contest or file a protest.

Set it at $125 million & be done.

@GregHinz

[Crain's Chicago Business @CrainsChicago]

Why Bally's $250 million casino site is valued at just $43 million https://t.co/KN75TdVZwJ

[Bally's Chicago Watch @BallysWatch]

Bally’s is at it again: sell off what’s left, then borrow another $1.1B. Increasing debt by $400 million and adding to rent burden.

This is heading toward a spectacular finale. Place your bets: which city gets screwed the most: Chicago, Vegas, or New York?

[Bally's Chicago Watch @BallysWatch]

Bally's never should have been picked to begin with. Lori & Samir made them take the worst possible temporary spot.

The City squandering this license and opportunity is equal to the parking meter debacle. Chicago's mix of arrogance, corruption, & ineptitude is toxic.