Bally’s and Hard Rock continue casino projects in Chicago and Las Vegas after Resorts World begins New York operations

(AsiaGameHub) –   In December, Genting, Bally’s Corp, and Hard Rock International became closely linked after all three secured downstate New York casino licenses—a development that could significantly elevate their positions in the U.S. gaming market.

Genting’s Resorts World NYC made the first major move by launching the initial phase of its casino expansion last week. While Bally’s and Hard Rock still face several years before their New York projects open, both recently achieved key construction milestones—Bally’s in Chicago and Hard Rock in Las Vegas.

For Resorts World, leveraging existing unused space was crucial to opening just five months after receiving its license. The former video lottery facility now holds a multi-year head start in New York, with Bally’s and Hard Rock targeting single-phase openings in 2030, assuming schedules remain on track.

During this period, Resorts World will continue expanding but will also face higher tax rates due to its temporary monopoly. The casino currently pays 63% on slot revenue and 30% on table games—rates that will drop to 25% and 10%, respectively, once the other two operators begin operations. Despite the steep taxes, the market potential is substantial: CBRE estimates the downstate region could generate up to $5.6 billion annually after 2031, when all three casinos are operational.

At the April 28 launch event, Genting’s executive chairman Lim Kok Thay performed the ceremonial first dice roll. He was joined by acclaimed musician and NYC native Nas, who served as the public face of the casino’s licensing bid. Notably, Nas’ former rival and contemporary Jay-Z had backed Caesars Times Square, which was eliminated during the committee review phase.

“This is just the beginning. So this is about to expand and do things that everyone’s going to be excited about. So Queens is where it’s at,” Nas told CNBC.

Hard Rock tops off Strip guitar tower

Hard Rock’s $8 billion Metropolitan Park project near Citi Field in Queens represents the most expensive and ambitious of the three New York licensees. In the meantime, the company is advancing its Las Vegas Strip resort on the site of the former Mirage.

A topping-off ceremony for its iconic guitar-shaped hotel tower was held on May 2. Upon completion, the tower will feature 650 suites and reshape the Las Vegas skyline. Hard Rock acquired the Mirage from MGM for $1 billion in late 2022, with renovation costs expected to range between $4 billion and $5 billion.

“This event honors our construction partners at PENTA and McCarthy, as well as the thousands of dedicated men and women on our construction team,” said Hard Rock Chairman Jim Allen, according to CDC Gaming.

Like Resorts World in New York, Hard Rock is motivated to open swiftly on the Strip. Initially, the company aimed to keep parts of the casino operational to mitigate costs, but that plan proved unworkable, leading to the property’s closure in July 2024. Hard Rock now aims to relaunch the resort—including more than 3,000 rooms—by late 2027.

This timeline is notable, as it may mark the final new Strip development for several years. The two most recent openings—Fontainebleau and Resorts World Las Vegas—faced construction delays and rising costs, and both continue to stabilize post-launch. With economic and geopolitical uncertainties persisting, new competing developments on the Strip are likely distant prospects.

Bally’s looks to secure Chicago casino extension

Positioned between Hard Rock in the west and Resorts World in the east, Bally’s is nearing completion of its $1.8 billion flagship Midwest casino in Chicago. A topping-off ceremony took place on April 30, attended by numerous officials, including Bally’s Chairman Soo Kim and Chicago Mayor Brandon Johnson.

“This is a game changer. There’s nothing like this in the Chicagoland area,” Kim told the Chicago Sun-Times. “There’s nothing like this for a long ways.”

Securing Chicago’s sole casino license was a major achievement for Bally’s, but the development has encountered numerous obstacles. Construction has been delayed repeatedly due to design revisions, debris issues, and the use of unapproved contractors with alleged organized crime connections. The company also had to secure over $900 million in additional financing from Gaming and Leisure Properties.

Bally’s now depends on state officials for approval to extend its operations. The company faces a September 9 deadline to open its permanent facility, as its temporary casino—which opened on September 9, 2023—is authorized to operate for only three years. That deadline will not be met; Kim confirmed last week that opening is now projected for the first quarter of 2027.

To keep the temporary casino running until the permanent venue launches, Bally’s needs legislative approval via HB 4437. While the bill would grant up to 18 additional months of operation for the temporary site, time is running out. Illinois’ legislative session adjourns on May 31, and the bill has remained with the House Rules Committee since March 27, with no scheduled meetings as of publication.

“We’re not concerned,” Kim told the Sun-Times. “I think everyone knows it makes sense to do, so we’re confident that we’ll have good outcomes in Springfield.”