Bally's closes $200M deal for Chicago casino property

CHICAGO - Bally's has officially closed the deal on the location for a casino in Chicago’s River West neighborhood.

Bally's purchased the Freedom Center printing plant for $200 million.

The proposed $1.75 billion casino is expected to generate about $200 million in annual tax revenue for Chicago.

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A temporary site is set to open at Medinah Temple before next June.

"This transaction is an important step in our development plan for Bally's Chicago as we continue to work towards opening the temporary casino in mid-2023," Bobby Lavan, Chief Financial Officer of Bally's, said in a statement.

The permanent location is not set to open before 2026.