Operator News
US – Twin River Worldwide confirms complete corporate name change to Bally’s
By Phil - 28 October 2020
Twin River Worldwide Holdings will change its name to Bally’s Corporation effective 9 November 2020. The company recently bought Bally’s Atlantic City, followed by the rights to the iconic Bally’s brand previously owned by Caesars Entertainment for US$20m with the plan being to roll it out across its estate of casinos in Rhode Island, Mississippi, Delaware, Missouri, Colorado, Illinois and Nevada.
Reflecting this change, the company’s common stock will commence trading on the New York Stock Exchange under the new ticker symbol “BALY” when trading opens on 9 November 2020.
Soo Kim, Chairman of the Company’s Board of Directors, said: “The Bally’s brand embodies a rich history in American gaming and entertainment, aligns perfectly with our current and future growth strategy, and is ripe with untapped innovation potential to help us launch future entertainment services. We thank Caesars Entertainment for entrusting us with one of the industry’s most iconic brands.”
Over the coming months, the Company will continue to implement a unified branding initiative, which complements the considerable geographic growth and operational improvements that the Company has achieved this past year. As a result of its disciplined portfolio diversification strategy, once all pending transactions are closed, the Company will operate 14 casinos, a racetrack and 13 OTBs across 10 states. The Company’s rapidly growing footprint will allow it to serve over 80 million customers that reside within the markets of its 14 premier casinos. In addition, the customers in the Company’s database will increase to approximately 14 million players. After the closing of all announced acquisitions, the Company will have approximately 16,000 slot machines or VLTs, approximately 550 table games and over 3,900 hotel rooms.
George Papanier, President and Chief Executive Officer, said: “This is an exciting and transformative moment for our Company as we unite the high-quality customer offerings that span our increasingly national footprint under a singular preeminent brand. The Bally’s brand is core to our drive to become the first omni-channel gaming company to seamlessly integrate and operate physical casinos with digital solutions. We remain committed to employing our disciplined acquisition strategy, and leveraging regulatory incumbency as well as our retail customer database, to take advantage of the incredible growth potential that an online future offers.”
Twin River has agreed to provide Caesars Entertainment a perpetual license to use the Bally’s brand at its existing Bally’s Las Vegas Hotel & Casino property. Twin River recently bought up Eldorado in Shreveport, Montbleu in Lake Tahoe and Jumer’s Casino in Illinois, all of which are expected to be part of the Bally’s rebranding.
It also plans to build a new sportsbetting empire using the brand with retail, land-based facilities in its casinos as well as a Bally’s branded online betting and gaming website.
