Bally’s Corporation is navigating an increasingly demanding period as it works to advance major developments in Chicago, Las Vegas and New York, with financing, regulatory challenges and construction deadlines placing the company under growing pressure.
In Chicago, Bally’s recently secured an extension to its temporary casino licence, allowing operations to continue while work progresses on its planned $1.8 billion permanent resort. However, a new dispute has emerged over the potential expansion of video gaming terminals (VGTs) across the city.
City officials remain divided over the proposal after a heated committee meeting ended without a decision. During discussions, Bally’s suggested installing slot machine lounges at both O’Hare and Midway airports, arguing the facilities could offset the expected cost of VGT licensing. Company executives estimate each airport lounge could generate around $5 million annually in gaming and admission tax revenue for the city.
Bally’s has repeatedly warned that allowing widespread VGTs in Chicago would significantly reduce casino revenue. The operator estimates it could lose nearly $75 million in annual income while around 1,000 jobs linked to its temporary and future permanent casino could disappear. The company also argues that the policy would undermine commitments it accepted when securing Chicago’s sole casino licence, including annual payments to the city.
The debate comes as VGTs continue to outperform traditional casinos across Illinois. So far in 2026, casinos have generated about $889.5 million in adjusted gross receipts and $53.6 million in local taxes, while VGTs have produced approximately $1.4 billion in net terminal income and $68.5 million in local tax revenue. More than 1,100 municipalities already allow the machines, with Chicago previously standing as the largest exception.
Meanwhile, Bally’s is also under scrutiny in Las Vegas, where it is developing a $1.2 billion mixed-use project next to the future Major League Baseball stadium for the Athletics. While the stadium remains on schedule for a spring 2028 opening, uncertainty surrounds Bally’s ability to complete its neighbouring casino development on a similar timeline.
Industry officials have questioned whether the company has secured sufficient financing, and the Las Vegas Convention and Visitors Authority has requested Bally’s present a clearer development plan by August. Company representatives recently told the Nevada Gaming Commission that only the retail district, parking facilities, utilities and public plaza are expected to be completed alongside the stadium, while the hotel and casino towers will likely open later.
Beyond those projects, Bally’s is preparing to launch construction of its largest development yet, a proposed $4 billion integrated resort in the Bronx after securing one of New York’s downstate casino licences. Public planning documents indicate construction is expected to begin roughly eight to nine months after licensing, placing the anticipated start later this summer.
The ambitious expansion comes after Bally’s completed several major acquisitions since the beginning of 2025, including Intralot, Evoke and a majority stake in Star Entertainment. At the end of the first quarter, the company reported $559 million in cash while carrying more than $4.3 billion in long-term net debt and an additional $2.2 billion in lease liabilities. Although Bally’s shares have gained roughly 50% over the past year, they have fallen around 15% during the last six months as investors continue to assess the company’s ability to deliver multiple large-scale projects simultaneously.