Bally's Financial Struggles Exposed | Chicago News

Bally’s Chicago just capped off their new casino—but the celebration is short-lived. They’ve filed a “going concern” notice with the SEC, revealing they’re desperate for cash, considering asset sales or new loans. This comes amid a heated standoff with City Council over video gambling terminals Bally claims will hurt profits, though council members suspect it’s a cover-up for financial trouble. The company admits massive losses—$56 million in the first half of last year and a $233 million deficit—and expects things to get worse. Yet they insist construction delays on the hotel and event center are unrelated, blaming city approval of the terminals instead. Alderman Brendan Reilly and others see through it, calling it a smokescreen and demanding Bally’s return to work and explain why they’re dragging their feet—with $5 billion in debt, they’re running out of time. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/2d8e3f853c5c431f