When Bally’s won the competitive bidding process nearly three years ago to build Chicago’s first casino, it pledged to give minority investors a piece of the action as part of its agreement with the city. This week, Bally’s Chicago launched an initial public offering for women and minorities to buy a 25% equity stake in the fledgling casino, looking to fulfill its obligation to the city and raise funds for the construction of its proposed $1.7 billion entertainment complex in River West, which is slated to open in September 2026. But as applications begin to flow in through an online investor portal, work at the 30-acre site, home to what’s left of the former Chicago Tribune printing plant, remains halted after a demolition mishap last month that spilled debris from a wall into the adjacent Chicago River. A video posted on Citizen social media showed the debris from the demolition of the former Chicago Tribune printing facility, the Freedom Center, falling into the Chicago River as the site is prepped for the construction of Bally’s Chicago casino, Dec.
Comment on Bally’s Chicago launches $250 million IPO for minority investors, as casino site demolition remains on hold after river spill
Robert Channick, Chicago Tribune: Business
Fri, 01/03/2025 - 10:41am
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