Bally's launches investment program to boost diversity and inclusion at its permanent Chicago casino

On Monday, Bally's announced an investment program to boost diversity and inclusion in its permanent River West casino in Chicago. The company is offering investors a chance to buy a 25% stake in the $1.7 billion casino and resort project, limited to women or people of color, as required under the company’s host community agreement with the city.

As per the announcement, people can invest from $250 to $25,000 to raise a total of $250 million toward funding the construction of the casino and resort at Chicago Avenue and Halsted Street, slated to open in September 2026. 

Bally’s says their offer aims to give power to underrepresented groups by letting them own a piece of a big city project. While investing has risks, Bally’s highlighted potential benefits, such as helping to pay for first responder pensions, thanks to casino taxes.

The new casino is on track to be the biggest in Illinois boasting over 3,400 slot machines, 173 table games, and special VIP gaming spots. It will also have extras like a 3,000-seat theater, a bar on the roof, a gym, and a public park outside. The plan is to add 2,000 feet to the city’s famous riverwalk linking it to the property.

Individual investors "must be a woman or a minority," according to an investor presentation from Bally’s, while other investing entities "must be controlled by women or minorities."

That includes investors who are Black, American Indian, Asian American, Hispanic, Arab American, or who come from other groups “found by the City of Chicago to be socially disadvantaged by having suffered racial or ethnic prejudice or cultural bias within American society,” according to the presentation.

The minority ownership stake was a key commitment from Bally’s that helped it land former Mayor Lori Lightfoot’s nod over more experienced casino operators to become the city’s choice for the long-coveted gaming license in 2022. The permanent casino is projected to eventually rake in about $1 billion per year, with the city taking an estimated cut of $200 million for its underfunded police and firefighter pensions.

However, early returns from Bally’s temporary casino at 600 N. Wabash Ave. have fallen short of projections set by Lightfoot’s office, prompting Mayor Brandon Johnson’s budget team to lower its expectations for 2025.