Monday, March 31, 2025 5:43 PM
Image aggregated from Chicago Sun-Times.
Bally’s has received another credit downgrade from a key Wall Street ratings agency, dealing the latest tough card to the corporation behind Chicago’s casino.
Fitch Ratings cited “execution risk in the development of the Chicago projects” along with high debt and other issues for the Rhode Island-based gaming company while lowering their rating from B to B- in a decision announced Friday.
Fitch analysts say Bally’s “should have sufficient funding to complete” their $1.7 billion permanent casino at 777 W. Chicago Ave., which is supposed to open in September 2026.
But potentially lowering Bally’s odds of maxing out their River West jackpot are “a saturated Chicago gaming market, the higher-than-average gaming tax rate, and the typical ramp-up of a new casino development,” according to Fitch, which downgraded the company last year, too.
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