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Tag Archives: Bally’s Corp

US – Bally’s Chicago receives critical support from City Council

Bally’s Corporation garnered a major victory after Chicago’s City Council voted to approve an amendment to Planned Development No. 1426, authorising zoning for the construction of Bally’s Chicago Casino – a $1.7 bn flagship entertainment destination. The first phase of this project will include the one million square foot casino building, 500-room hotel, 3,000-person event space, dozens of infrastructure…

US – Bally’s and International Union of Operating Engineers enter into labor neutrality agreement for Tropicana Las Vegas

Bally’s Corporation has entered into a labor neutrality agreement with the International Union of Operating Engineers (IUOE), the 10th largest union in the AFL-CIO with approximately 400,000 active members in 123 local unions throughout the United States and Canada, concerning its Tropicana Las Vegas property. Pursuant to the agreement, the parties will take a neutral approach to organizing campaigns,…

US – Bally’s closes on deal for Chicago site

Bally’s Corporation has closed a transaction with one of Chicago’s leading real estate private equity firms, whereby such Investor acquired for $200m, the approximately 30-acre Tribune Publishing Center site on which Bally’s Chicago will be built. Pursuant to the terms of the parties’ agreement, Bally’s entered into a ground lease with the Investor to lease back the Land. The ground…

US – Bally’s to complete on Freedom Center deal this month

Bally’s Corp., has confirmed it expects to complete on the deal to buy the Freedom Center with current owner Nexstar Media Group this month for $200m, where it will build its Chicago casino. Bally’s CFO Robert Lavan said: “We’re close and focused on a land sale-leaseback in Chicago, because we think that that’s a core…

US – Bally’s Corp. confirms Marc Crisafulli’s retirement

Bally’s Corporation has announced that Marc Crisafulli, EVP of Government Relations, Legal and Regulatory, will retire from the company, effective 16 September. Mr. Crisafulli joined the company in May 2019 as EVP of Government Relations and then later served as EVP of Twin River Worldwide Holdings and President of Bally’s Twin River Lincoln and Bally’s Tiverton Casinos, prior to…

US – Bally’s downgrades full year forecasts despite doubling revenue year-on-year

Bally’s Corporation almost doubled its second quarter revenue year-on-year, hitting $552.5m with the company saying its priority remained ‘getting into the right markets at the right depths.’ Gaming revenues more than doubled year-on-year to $455.1m with hotel revenue up by almost 50 per cent to $33.9m. Food and beverage increased to $27.4m whilst retail, entertainment and other…

US – Bally’s agrees to sell real property assets of two Rhode Island properties to Gaming And Leisure Properties for $1bn

Bally’s Corporation (BALY) has announced that it has entered into a binding term sheet with GLP Capital, the operating partnership of Gaming and Leisure Properties, to acquire the real property assets of Bally’s two Rhode Island casino properties – Bally’s Twin River Lincoln Casino Resort and Bally’s Tiverton Casino & Hotel. Pursuant to the terms of the transaction, Bally’s will immediately lease back both properties and…

US – Bally’s, Hard Rock and Rivers to battle it out for Chicago casino licence

Chicago Mayor Lori E. Lightfoot has announced the City has shortlisted three bidders to progress to the next stage of the bidding process for the city’s sole casino license. Following extensive evaluations, Bally’s Corporation at the Tribune Site, Hard Rock at the ONE Central Site, and Rivers 78 at the 78 site (listed in alphabetical…

US – Bally’s names Bobby Lavan as new Chief Financial Officer

Bally’s Corporation (BALY), a global gaming, hospitality and entertainment company with a portfolio of casinos and resorts and online gaming businesses, today announced that Bobby Lavan has been appointed as Bally’s Chief Financial Officer. Steve Capp, Bally’s current Chief Financial Officer, is leaving Bally’s to pursue other interests and opportunities, and will continue to support the business through the end of April. Mr. Lavan has…