CHICAGO URBAN DAILY
CHICAGO (CHICAGO URBAN DAILY)— The budget fight at City Hall just turned into a street fight between the city’s future casino and the council — and Bally’s came out swinging.
The aldermen’s alternative budget cleared the Finance Committee Tuesday on a 22-13 vote, with $6.8 million in licensing-fee revenue from legalizing video gaming terminals — the state’s biggest source of gaming tax dollars, currently banned inside Chicago city limits by ordinance. Ald. Anthony Beale’s legalization ordinance already cleared the Licensing Committee in September.
Bally’s, building its $2 billion casino in River West for an opening next September, says the move would be a disaster for the city’s bottom line.
“To incorporate unregulated, independently-managed VGTs as a budget line item will result in a loss of substantial new revenue for the City, and will create significant job losses at the Bally’s Chicago Casino,” said Bally’s Vice President for Government Relations Elizabeth Suever. “Even if this proposal were to pass as is, it would generate $0 revenue in FY 2026 for the City.”
In a separate statement, the company warned the council that VGTs would cause a yearly total tax loss of $260 million from Bally’s Chicago Casino — roughly $70 million in tax revenue a year gone from Chicago’s books, not counting the $4 million annual Host Community Agreement payment Bally’s says it would likely forgo if it re-opens the deal. It also predicted the loss of 750 to 1,050 union jobs.
Mayor Brandon Johnson has opposed legalizing VGTs, saying they wouldn’t generate substantial revenue. Beale, who included the $4 million deduction in his revenue estimate, clearly disagrees.
With a December 31 deadline to pass a balanced budget, the gloves are officially off.
Stay tuned to Chicago Urban Daily as the budget battle heats up.
Reported by Chicago Urban Daily News. Visit chicagourbandailynews.com for updates.
