Bally's Corporation Completes Deal For 30-Acre Casino Property
As of today, Bally’s Corporation has officially completed its transaction with a private equity firm to secure a 30-acre property for their casino. The building is currently the home of the Tribute Publishing Center. The deal is set to last for a 99-year initial term with the company having 10 different renewal options for 20 years a piece. Bally’s will be allowed to receive addition revenue from the private investor for up to $300 million. The Chairman of the Board at Bally’s stated, “We are excited to be partnering with one of Chicago’s leading real estate private equity firm as we progress with building our $1.7 billion flagship property in the Chicago market. There is a lot of amazing potential for Bally’s Corporation to make this casino shine as Chicago is one of the best convention towns in the U.S. as well as one of the most populated cities behind New York City and Los Angeles.