Bally’s Corp. has provided updates on two of its major Lucky Cola casino developments, disclosing long-awaited cost and permit details for its Las Vegas project while reaffirming that its delayed Chicago casino resort remains on track for completion by the end of the year.
Bally’s Las Vegas: $1.19 Billion Project
According to a Clark County filing submitted on December 29, and referenced by the Las Vegas Review-Journal, Bally’s mixed-use project next to the Athletics Las Vegas ballpark will cost $1.19 billion.
The application outlines intentions to develop the site in phases and anticipates project completion by December 2030. The phased design and construction package lists 13 permit applications. The project will include a hotel, casino, retail and dining spaces, a 2,500-seat theater, and parking and supporting infrastructure.
Phased Construction Plan and Permit Timeline
Bally’s first permits were filed in December 2025 for shared infrastructure serving both the resort and the adjacent Athletics ballpark. Those applications include a central utility plant valued at $175 million and a southeast parking garage and ramp valued at $150 million.
In 2026, Bally’s plans to advance podium and theater construction. That includes a shared accessway, theater foundations and superstructure, and northwest podium foundations and shell. Those permits range from $10 million to $70 million. The approvals are targeted on a rolling basis between April and November 2026.
Construction expands in 2027 with the northwest podium build-out, followed by southwest podium foundations and hotel tower foundations. The permit approvals are scheduled between August 2027 and February 2028.
Major vertical development accelerates in 2028. That’s led by the hotel tower superstructure, a $550 million component that represents the single largest permit in the filing. Additional southwest podium work extends into early 2029, completing the planned permit sequence.
How the Permit Schedule Fits Bally’s Four-Phase Plan
The permit timeline aligns with Bally’s Corp. previously disclosed four-phase development plan.
- Phase 1 focuses on shared infrastructure. That includes utilities, parking, access roads, and initial retail, with target completion alongside the A’s ballpark.
- Phase 2 delivers the central resort core. That includes a 1,800-room hotel tower, a casino floor, a sportsbook, and an integrated entertainment district connected to the stadium plaza.
- Phase 3 completes the 2,500-seat theater at the site’s southwest corner.
- Phase 4 adds a second 1,200-room hotel tower on the northeast corner. The site will initially serve as a construction staging area for the ballpark.
At full build-out, the site is planned to include 1.7 million square feet of hotel space, 100,000 square feet of casino floor, and 476,000 square feet of retail and entertainment space. It will also have more than 800,000 square feet of parking.
Financing and Commitment Questions Surrounding the Las Vegas Project
Bally’s cost update comes amid analyst scrutiny and questions from industry observers about whether the company has the financial capacity—and strategic focus—to deliver its Las Vegas resort as planned.
In December, Citizens Bank analyst Jordan Bender questioned Bally’s long-term commitment to the Strip project. Bender cited the company’s growing slate of capital-intensive initiatives. That includes its pursuit of a New York City casino license and the Chicago project. In addition, Bally’s has faced broader balance-sheet pressures.
The same month, Bally’s announced a $1.1 billion financing. While the announcement explicitly mentioned the New York City project, it made no mention of the Las Vegas development.
Other analysts have suggested Bally’s may need to pursue asset sales or a development partner to advance the Nevada project at its current scale. There are also some, like Truist Securities gaming analyst Barry Jonas, who believe Bally’s is in a flexible position.
Bally’s Chicago Casino: Bally’s Vows for Year-End Completion
In another development, at a recent Chicago City Council compliance hearing, Bally’s executives reiterated that the company’s $1.7 billion River West casino and entertainment complex remains “on track” for substantial completion by the end of the year, despite earlier delays and ongoing legislative discussions around its temporary casino license.
During the hearing, Bally’s Chief Development Officer Chris Jewett pointed to off-site infrastructure work — particularly the Chicago Avenue bridge replacement — as a critical factor in determining when the permanent casino can open to the public.
City transportation officials indicated that the bridge project and related improvements remain on track for completion by December. That projection aligns with Bally’s stated substantial completion goal.
Temporary Casino Extension Legislation
At the same time, state Rep. Kam Buckner recently introduced legislation to allow Bally’s to continue operating its temporary casino at Medinah Temple through 2027. Currently, the temporary facility can operate until September 2026, the original completion date for the permanent casino.
Bally’s executives told city officials they do not expect to rely on the full extension if construction remains on schedule. Still, they acknowledged that the legislative flexibility provides regulatory certainty should infrastructure or construction issues arise.
City council members also pressed Bally’s on the performance of the temporary casino, which has generated less tax revenue than initially projected. In 2025, the city collected $15.8 million, down from $16.1 million in 2024. Both figures are less than half of the initial projections.
Bally’s attributed the shortfall in part to parking and accessibility challenges. It argued that the permanent casino’s expanded amenities — including a hotel, theater, riverwalk access, and multiple dining venues — will meet projections.
Several aldermen raised concerns about public awareness of the temporary casino. They suggested that limited visibility and marketing may be suppressing demand.
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