The coming weeks are critical for Bally’s Corporation in Illinois, where two new legislative proposals could significantly alter its operational landscape. These bills have the potential to grant the company more time for its flagship Chicago casino development and, separately, open a lucrative new revenue stream through online gaming.
A Potential Lifeline for the Chicago Casino Timeline
Construction of the $1.7 billion River West casino-hotel complex in Chicago has encountered logistical delays. Currently, the hotel tower stands at 15 of its planned 35 stories. In response, Illinois State Representative Kam Buckner introduced legislation, HB 4437, which seeks to extend Bally’s temporary operating license by six months. If passed, this would allow the temporary casino facility to remain operational until September 2027, pushing back the original deadline for the permanent venue’s completion.
This extension would provide Bally’s with crucial breathing room to navigate the project’s complexities. The development is a cornerstone of the company’s growth strategy but has faced unforeseen construction challenges.
iGaming Legislation Emerges as a Revenue Opportunity
A second, parallel legislative effort, HB 4797, was introduced to legalize online casino games and poker, known as iGaming. Facing a projected state budget deficit of $2.2 billion by 2027, Illinois is actively seeking new tax revenue sources. The proposed “Internet Gaming Act” would permit existing license holders, like Bally’s, to partner with up to three online gaming operators.
The move towards digital gaming could offer a strategic buffer for casino operators. Physical regional casinos in the U.S. saw a 5.4% drop in visitor traffic in January, a decline largely attributed to severe winter weather. An online platform would reduce dependency on such location-specific and weather-related factors, creating a more stable year-round business segment.
Financial Strain from Concurrent Mega-Projects
Bally’s is navigating a period of substantial capital expenditure. Alongside the Chicago project, the company is advancing a separate $1.19 billion development on the Las Vegas Strip. To secure funding for these ambitious endeavors, Bally’s secured a $1.1 billion loan in December 2025.
The company recently bolstered its balance sheet through a major transaction. In October 2025, Bally’s sold its international online business to Intralot, a deal that generated $1.77 billion in cash and resulted in Bally’s retaining a 58% majority stake in the newly merged entity.
| Key Details | Information |
|---|---|
| Company | Bally’s Corporation |
| Flagship Project | River West Casino, Chicago |
| Pending Legislation | HB 4437 (Deadline Extension) & HB 4797 (iGaming Legalization) |
| Earnings Release | February 18, 2026 (Q4 & Full-Year 2025) |
| Recent Financing | $1.1 Billion Loan (December 2025) |
| Construction Progress | Hotel Tower at 15 out of 35 Floors |
All eyes are now on the company’s upcoming earnings report scheduled for February 18, 2026, which will cover the fourth quarter and full year of 2025. Investors will scrutinize the balance sheet’s resilience under the weight of these simultaneous large-scale projects. Furthermore, the ongoing debates in the Illinois state legislature will be decisive in providing regulatory certainty for Bally’s planning through 2027.
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