Mayor Brandon Johnson says his administration is closely watching the financial drama surrounding Bally’s and its plans for a permanent casino in the West Loop. He acknowledges he may need to step in at some point.
Bally’s chairman Soo Kim is working to raise a reported $800 million to build Chicago’s first casino resort complex. In a disputed move, he’s launched a takeover bid that, some investors say, might jeopardize the venture.
Mayor Johnson, this week, reminded reporters the gaming arrangements were crafted under Lori Lightfoot.
“It’s another situation that I inherited,” Johnson said. “This is yet an evolving dynamic again in Chicago, and, look, the respective partners and conversations are being had.
At the appropriate time, when it’s time for the City of Chicago to intervene or to engage, I’ll be up for the challenge, like I have been for every single challenge of every single thing that I inherited from several administrations ago.”
Currently Bally’s is running a temporary casino in the old Medinah Temple building.
