Bally’s Corporation has announced that the city has selected Bally’s for the new Chicago casino. The resort will be a $1.7 billion destination casino, with entertainment and a hotel project. Bally’s was chosen as the preferred bidder in the City’s request for proposal process to construct and operate a world-class casino resort in downtown Chicago. Bally’s worked cooperatively with city officials and community leaders throughout the RFP process to develop a project that embraced Chicago as a global gateway city, incorporating its vibrant cultural scene and highly diversified economy. As evidenced in the City’s evaluation report, Bally’s Chicago provides the…

Our gambling news this week finds Caesars hemorrhaging cash and looking to sell a casino on the Las Vegas Strip. Possibly, Flamingo Las Vegas. And while most suspected Planet Hollywood would be the property sold, indications are that Caesars will try to find a buyer for the 75 year old property. Howdy friends! And welcome to This Week in Gambling, the feel good hit of the summer! And things are going well right now in Las Vegas. And that’s where I’ll be headed next week for my vacation. More on that in just a moment. But first, as we reported…

Despite record breaking revenue numbers for Nevada and Las Vegas, Caesars Entertainment in hemorrhaging cash. While the company was able to generate $2.3 billion in revenue, which is up from $1.8 billion the year before, their net losses somehow increased from $423 in 2021 to $680 million this year. Part of the reason for the counterintuitive results lies in the fact that Caesars operational expenses are up over 45%. Those expenses came to $2.3 billion, which was their exact revenue that the company reported. Additionally, they lost $53 million from their digital segment, which had been profitable to the tune…

Having just celebrated their 75th Anniversary in November of last year, rumors that the Flamingo Las Vegas will be sold by Caesars for over $1 billion are now swirling. We’ve known that Caesars was looking to sell a Strip property for quite a while now. Here at This Week in Gambling, our suspicion was clearly on Planet Hollywood as the most likely casino to go. And it looks as if Caesars agreed with us, right up until they realized it had theater they could use to host concerts. Attention then shifted back to Flamingo Las Vegas as the next most…

With the owner of the Golden Nugget Casino looking to buy a 6 acre parcel on Las Vegas Boulevard, speculation of a new Strip casino has begun. The property is located at the corner of Harmon Avenue across from the City Center. Tilman Fertitta,the Houston billionaire who also owns the NBA’s Rockets, seems to be planning a new resort at the location. He forked out about $200 million for the property, where there is currently a retail location and a restaurant. The City Center location, next to the Aria and Vdara casinos, is also adjacent to 9 acre property planned…

The economic recovery from the Covid pandemic continues for Las Vegas Strip casinos. The Nevada Gaming Control Board has reported March was the 3rd highest monthly gambling revenue ever recorded for resorts up and down the Boulevard, while the state reached it’s 2nd highest revenue figured of all time. Strip casinos hauled in over $745 million, which was up nearly 50% from the same time last year.  As a whole, the state brought in $1.35 billion in revenue, second only to the $1.59 billion earned in July of 2021. All of this began back in March of 2021 when Nevada…