Gaming and Leisure Properties provides update on Chicago investment

Gaming and Leisure Properties (GLPI) has partnered with Bally’s Corporation (BALY) to transform Chicago’s River West neighborhood, with the development of an integrated casino resort at the former Chicago Tribune site. The project will bring an iconic, world-class entertainment destination, featuring a 178,000 square-foot casino with over 3,300 slots and 170 table games, a 500-room luxury hotel, vibrant dining and nightlife, extensive event space, and a community-enhancing riverwalk and green space. GLPI’s $1.19B investment, inclusive of the 2024 $250M acquisition of the site, demonstrates its commitment to supporting its tenants’ growth through innovative projects that are expected to deliver long-term value to GLPI’s shareholders. Bally’s expects the property to open in the 4th quarter of 2026. Completed Project Milestones: The demolition of the Chicago Tribune buildings; The insertion of caissons Trench excavation has been completed; A concrete pad has been connected to the hotel core; A waterproofing membrane has been installed for various project areas; Caisson caps and grade beams to support vertical construction have been installed; Crane #1 for steel erection has been assembled. Current Activities: Ongoing concrete pours for shallow foundation walls, columns, basement level slab-on-grade, grade beams, and elevator core walls; Rebar cage and formwork installation across multiple sectors, including perimeter walls and the hotel elevator core; Underground permanent electrical and plumbing work, including necessary trench excavations, conduit installation, duct bank work, and cabling for the temporary and permanent; ComEd power Continued installation of structural grade beams and perimeter walls for both the casino and the hotel Structural wall construction along; Chicago Avenue Inspections and backfilling around completed area; Regular steel deliveries and steel erection activities for the casino structure; Hotel level 2 deck pour and preparation for level 2 to 3 column pours. Upcoming Activities: Continued vertical construction of the hotel; Continued vertical construction of the casino; Continued steel deliveries and staging in preparation for the erection of Cranes #2 and #3; Fabrication of the hotel curtainwall system for the hotel and casino