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Bally’s will start development around the Athletics ballpark in Las Vegas without committing to immediate construction of the planned hotel and casino. Clark County has cleared key infrastructure and entertainment elements, while the resort portion still faces further approvals.
Good to Know
- Phase one covers the Athletics ballpark, a 1,500-space parking garage and a central utility plant.
- Clark County also approved plans covering a podium, additional parking and a 2,500-seat theater.
- Bally’s is considering financing options as a reported potential sale of development rights adds another variable to the $1.1 billion Las Vegas project.
Casino Resort Comes Later in New Las Vegas Plan
The revised construction schedule separates the casino resort from work directly tied to the new Athletics stadium. Phase one centers on the ballpark, 1,500 parking spaces and utility infrastructure, while a later phase adds the podium, theater and more parking. Hotel towers and the casino would follow in subsequent phases.
Clark County approved the latest entitlement package on August 19. However, commissioners did not approve the full casino resort at the same time. The casino and hotel plans are due for another county review on September 16 and also require Federal Aviation Administration clearance.
Earlier plans called for two hotel towers, retail and dining areas, a nine-acre plaza and a 56,000-square-foot gaming floor with a sportsbook, bars and pool. Bally’s executives had already told Nevada regulators that the hotel towers and casino were never scheduled to open alongside the ballpark, which remains targeted for 2028.
The phased approach gives Bally’s more flexibility at a difficult point for the balance sheet. A second-quarter regulatory filing warned of “substantial doubt” over the ability of the company to continue as a going concern under current forecasts. Bally’s said forecasts indicate potential problems meeting liquidity requirements and a leverage covenant under its revolving credit facility.
Bally’s is considering asset monetization, an equity sale and additional debt financing. Shares fell more than 25% after the filing became public.
A sale could also change the Las Vegas development. The Las Vegas Review-Journal reported that Bally’s could sell development rights for the project in a deal valued at about $1.1 billion. No transaction had been announced as of August 20, and Bally’s remained prepared to proceed if no agreement materialized.
Chicago Project Adds Another Funding Question
Las Vegas is not the only large development where Bally’s has revised construction plans.
Earlier in August, the company slowed work on several non-gaming elements of its $1.7 billion permanent Chicago casino. Bally’s linked the decision to the legalization of video gambling terminals in Chicago and argued that wider access to the machines conflicts with commitments under the Host Community Agreement.
“Bally’s issued a notification to the Chicago Community Builders Collective (CCBC) that it is resetting the pace of construction of elements of Bally’s Chicago permanent casino,” Bally’s said in a statement. “The potential for an uncontrolled proliferation of video gambling terminals (VGTs) is in breach of the City’s commitment not to expand gaming in the Host Community Agreement (HCA) and creates uncertainty that could be harmful for Bally’s Chicago prospects.”
Work affected in Chicago includes parts of the hotel, event space and restaurants. However, Bally’s continues to target early 2027 for the initial opening of the permanent casino.
FAQ
When will the Bally’s Las Vegas casino open?
Bally’s has not provided a firm opening date for the casino resort. The Athletics ballpark remains scheduled for 2028, while casino and hotel construction sits in later development phases.
What has Clark County approved?
The county approved plans involving parking, utility infrastructure, a podium and a 2,500-seat theater. Casino and hotel permits require additional review.
Could Bally’s sell the Las Vegas project?
A reported deal could value the development rights at around $1.1 billion, although no completed transaction had been announced as of August 20.
Why did Bally’s change the construction schedule?
The new structure separates stadium-related infrastructure from the more capital-intensive casino and hotel phases. The revision comes while Bally’s is also pursuing financing alternatives after warning about future liquidity and leverage requirements.
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