Boom or bust: Which of Bally’s new US developments holds the most potential?

While casino-resort expansion is by no means an uncommon occurrence in gaming, a single operator extending its reach to multiple markets at once – especially those considered as major jurisdictions in the US – can be an abnormal phenomenon. 

In the case of Bally’s Corporation, the operator has begun construction on new developments in New York City, Chicago and the gaming capital of North America – Las Vegas. Plenty of excitement has been generated around each property, particularly in Las Vegas where the casino-resort’s site will also be used as the home of the Las Vegas A’s MLB franchise. 

Recent concerns surrounding Bally’s financial stability have put a damper on such high expectations, however, leaving doubt as to whether the operator can back its commercial commitment.

Global Gaming Insider breaks down which of the New York, Chicago or Las Vegas properties could prove the most fruitful for Bally’s. 

Will Bally’s shine under the bright lights of Las Vegas?

Admittedly, it helps to foresee the opportunities in Las Vegas when one calls the city home as well, but there’s still no denying the historic grasp the Strip holds over its major market counterparts. Bally’s first entered the Las Vegas scene in 1973 – originally known as the MGM Grand Hotel and Casino prior to a rebranding in 1986 – and will look to usher in a new era for Sin City casino-resorts. 

Bally’s Las Vegas is expected to debut in 2029 – featuring approximately 100,000 sq ft of casino space and the future site of the Las Vegas A’s ballpark. While fellow properties on the Strip also maintain connections to live sports, no other has the direct navigation Bally’s Las Vegas will construct with the A’s stadium. 

The best example would be T-Mobile Arena in Las Vegas, which is conveniently situated between the New York-New York Hotel and Park MGM, both of which are currently operated by MGM Resorts International. 

Being able to filter in casino players directly from an A’s game will be part of a crucial strategy for Bally’s to grow Las Vegas clientele, as well as establishing a new identity in Las Vegas after its former Tropicana site more than ran its course. Bally’s isn’t alone in reinventing its Las Vegas moniker, as Hard Rock International will debut a new development on the Strip by the fourth quarter of 2027. 

Perhaps the Tribal property will serve as an early example of Las Vegas’ appetite for new competition, especially after the recent launches of Resorts World and Fontainebleau left tourists and residents hungry for more. 

Coming off a 12+ month stretch in which Las Vegas operators struggled to counteract declining tourism – primarily due to tariffs and rising costs on the Strip – the city could be in need of some new bait to capture the interest of its consumer pool. 

Either way, gaming’s presence in Las Vegas – coupled with the live sports experience set to be attached to Bally’s new development – easily places the Sin City project at number one in terms of most potential, even if the operator’s New York City site comes with its own advantages. 

Bally’s entering an Empire State of Mind

In late 2025, Bally’s was one of three operators to be granted a commercial casino license in New York, with Hard Rock and Resorts World also currently constructing its own developments in the Big Apple. 

While the Empire State could easily rival Las Vegas in terms of financial perspectives, it appears Bally’s may require additional assistance to get the casino-resort across the finish line. Bally's secured new financing for its Bronx development on September 14, totaling $560m and meant to support pre-construction costs and expenditures. 

"This important financing allows us to progress the pre-construction planning process so that we are ready to complete the remainder of the capital raise and remain on schedule. Furthermore, the additional liquidity provides us greater flexibility for other capital opportunities,” Bally’s Chairman Soo Kim said at the time of announcement. 

The “remain on schedule” portion of Kim’s statement could be a tad worrying, especially given the construction delays already reported at the operator’s Chicago site (but more on that later). Evidently, it appears Bally’s Bronx is still set to join the lineup of New York casino-resorts by 2030, and will neighbor the ever-popular New York Yankees MLB franchise once fully constructed. 

A similar mindset was developed for Hard Rock, as the operator partnered with New York Mets Owner Steve Cohen to build its future casino-resort within the same complex as the franchise’s Citi Field ballpark. Still, the greatest opportunity in New York City could lie less with a connection to sports teams, and more so the current lack of opportunity for residents to gamble. 

While plenty of commercial casinos are scattered throughout the Empire State, only two are currently active in New York City itself between Empire City Casino and the opening stages of Resorts World’s development. 

Unlike Las Vegas where Bally’s could look down the Strip toward an endless line of competition, much of New York’s commercial gaming presence is situated in areas where consumers rarely cross paths. It’s not often one visits or lives in New York City with the intentions of also commuting to Saratoga, Buffalo or Rochester, leaving the Empire State’s biggest market available for the taking. 

As part of its Q2 earnings report, though, Bally’s confirmed it may struggle to keep up with its debt burden over the next 12 months, and that there is "substantial doubt" regarding its ability to remain financially lucrative.

Within the filing, Bally's stated its "pursuing a number of financing alternatives to enhance its liquidity, including asset monetization, an equity sale and debt financings."

It remains to be seen if the financial detriments Bally’s is currently facing eventually affect its future developments in Las Vegas and New York City, but it could certainly be argued such ramifications are already being seen in Chicago. 

Bally’s facing blowback in the Windy City

Despite Bally’s Chicago expected to become the first of the three developments to see the light of day, its journey to launch has not exactly ventured down a smooth path. In August, Bally’s halted construction on the site due to concerns over the legalization of video gaming terminals (VGTs) in Chicago’s fiscal year 2026 budget. 

While construction remains on track for a mid-2027 opening, the casino-resort development was initially expected to debut on September 9, 2026, but such projections obviously failed to be met. 

On September 14, Kim addressed shareholders and investors of the operator’s Chicago casino resort project to provide an update on the construction timeline and call out “misperceptions in the media” over work stoppages at the site.

The Bally’s Chairman cited “inaccurate reports” regarding whether construction was paused due to disagreements over VGT legalization, and invited those who have invested in the new Chicago property to take part in a guided tour of the current development.

Even though Kim’s defense of Bally’s Chicago is meritable, it’s not as if the operator has given those across the industry reason to be wary. Between the Q2 report and confirmed work stoppages in Chicago, it's difficult to view a path in which Bally’s avoids even greater complications in the months ahead. 

Until a more affirmative path is put forward for Bally’s Chicago, it has to remain behind Las Vegas and New York City in the type of payoff it can deliver for the operator and the city itself. While Kim appears motivated to prove his Chicago project is still on track, ensuring the operator’s financial struggles don’t begin to affect its potential in Las Vegas and New York City should also be a top priority for the Bally’s Chairman.