All articles tagged with #ballys
Bally’s, burdened by a heavy debt load, warns its future is in substantial doubt as a Chicago casino project faces a video-gambling dispute, signaling possible restructuring and heightened liquidity risk for the company.
Bally's has reset the pace of construction on its permanent Chicago casino in River West after alleging the city breached the Host Community Agreement by failing to curb video gambling terminals; union workers were sent home as talks continue. Bally's says opening remains targeted for early 2027 and may pursue legal action with RKF Global, while the dispute could jeopardize a $4 million community-benefits payment tied to the project.
A man who won a $1,200 jackpot at Bally's Chicago casino and was initially denied payment due to his immigration status received his winnings after CBS News Chicago highlighted his story, leading Bally's to pay him and offer dinner, highlighting the impact of media attention.
Steve Cohen, Genting Group, and Bally's have been approved to operate casinos in New York City, with Cohen's project next to Citi Field in Queens set to include a casino, entertainment, and hospitality facilities, creating thousands of jobs and generating billions in revenue and taxes. The licenses mark the culmination of a decade-long process to expand gambling in the region, with significant economic and community impacts expected.
MGM has withdrawn from the NYC-area casino license race, leaving three bids from Steve Cohen, Bally's, and Resorts World, with the decision expected by Dec. 1. The withdrawal has sparked accusations of potential manipulation in the licensing process, particularly involving Bally's and its deal with Donald Trump. MGM cited a changed competitive landscape and licensing terms as reasons for its exit.
Bally's Corp. announced plans to develop a 500,000-square-foot entertainment district, including a hotel-casino and retail, around the new A's baseball stadium in Las Vegas, with development starting in 2026 and some venues opening before the stadium's 2028 debut, aiming to boost non-gaming revenue in the city.
Bally's is set to make a final offer to the Minnesota Twins for the 2024 season, but the terms of the deal remain uncertain. The Twins' broadcasting future has been in question, with fans hoping for local, free broadcasting, but a potential return to Bally's would mean blackouts and high cable fees. However, Amazon has expressed interest in becoming an investor in Diamond Sports Group, which could lead to streaming rights for the Twins and other teams. The financial implications of these options are unclear, but a deal with Bally's and Amazon may result in lower revenue for the Twins and limited payroll spending in free agency.
Bally's is buying out former President Donald Trump's lease to operate Trump Golf Links at Ferry Point in the Bronx, following a legal battle with the City of New York after the January 6 insurrection. The terms of the multimillion-dollar deal were not disclosed, but the New York City Parks Department expressed support for the transfer and expects Bally's to provide a high-quality golfing experience. Trump's name will be removed from the golf course, which will be renamed. This deal is similar to the one Trump made with Hilton to buy him out of his lease for the old Post Office in Washington, D.C.
Practice gaming sessions are set to begin at the former Medinah Temple in Chicago, where Bally's temporary casino is located. The casino could open as early as this weekend pending approval from the Illinois Gaming Board. The facility currently houses 750 slot machines and 50 table games. Bally's is also working on constructing a permanent $1.7 billion casino in River West, which is expected to take up to three years to complete. Some residents are excited about the new casino, while others express concerns about crime and traffic congestion.
The Tropicana hotel on the Las Vegas Strip has informed its employees that it plans to close within the next 18 to 24 months for a renovation project that includes an "integrated casino hotel and resort and baseball park." The hotel will continue to operate as usual until that point. The announcement comes after years of speculation that the site could be used for a baseball stadium. The Tropicana's closure will likely affect businesses operating within the hotel, such as the Laugh Factory Comedy Club.
The Oakland Athletics have reached an agreement with Bally’s and Gaming & Leisure Properties to build a potential stadium on the Tropicana hotel site along the Las Vegas Strip. The project is expected to cost about $1.5 billion, and the A’s are asking for nearly $400 million in public support from the Nevada Legislature, which could vote on a proposal this week. The A’s had been looking for a new home for years to replace the outdated and run-down Oakland Coliseum, where the team has played since arriving from Kansas City for the 1968 season.
Bally's $1.7 billion River West casino in Chicago has received final design approval from the city's Office of the Zoning Administrator. The updated design features a boxier facade with fewer windows, creating a more "neighborhood-oriented entertainment complex." The site layout remains the same, with a hotel tower, restaurants, retail, gaming, and a 3,000-seat theater. The casino is set to be built on the Tribune Publishing site along the Chicago River. Later phases in the development could include up to 4,800 residential units, 250 additional hotel rooms, and thousands of square feet of retail space.
New renderings of Bally's River North Casino in Chicago have been released, showing a softened-down appearance of the complex. The $1.7 billion development is expected to bring more than 3,000 permanent jobs to Chicago and hopes to open in three years. The redesigned facade will replace the Chicago Tribune's Freedom Center Printing Plant, and the Department of Planning and Urban Development approved plans to begin construction on the space in late-2024.
The design of Bally's River North casino and hotel complex in Chicago has undergone a significant makeover, replacing the original scheme's Vegas-like glitz with a more sober look. The new design presents expanses of light-colored corrugated-looking facade material facing the river, meant to recall the industrial language of the Chicago Tribune's Freedom Center printing plant that will be demolished to make way for the casino. The redesign makes it clear that other amenities and attractions are there and can be visited without going to the casino.