Bally’s Corporation Submits Bid for Chicago Casino License | New

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CHICAGO, October 29, 2021 / PRNewswire / – Bally’s Corporation (NYSE: BALY), one of America’s leading omnichannel providers of land-based games and interactive entertainment, today submitted a proposal to the City of Chicago develop and operate the $ 1.6 billion by Bally Chicago, a world-class entertainment destination. The casino, hotel and entertainment venue will be by Bally flagship property and showcase the best of Chicago in its programming.

Chicago is a vibrant and world-class city, which is why we are committed to making a $ 1.6 billion investment in the establishment by Bally Chicago as our flagship product and the only property of its class in the Chicago market, ”said Sooo kim, by Bally President. “This property will be built, owned and operated by Chicagoans, with a focus on minority investors and women, contractors, suppliers, consultants and employees. It will generate tax revenue, create good jobs. paid and will attract and local visitors for generations to come. “

The site

by Bally proposed two potential sites, which she both views as sleeping economic giants for the consideration of the city and communities: the Chicago Tribune Publishing Center, located at the corner of Chicago Avenue and Halsted Street, and McCormick Place Truck Yard. The Tribune site is within walking distance of shops, restaurants and other cultural attractions and is easily accessible by public transport. McCormick Place Truck Yard creates an entertainment destination that connects that of Chicago convention center with the vibrant, predominantly African-American community of Bronzeville, and would turn the underutilized site into a major source of tax revenue for the city.

Built in two phases, the $ 1.0 billion the first phase will include 2,700 slot machines and 95 table games, with enough space for a significant expansion of gaming space and / or other equipment; a luxury hotel with 100 suites; an open-air concert hall for performances from 500 to 1,000 seats, as well as a green space for relaxation and recreation; catering options organized by James beard award-winning chef that of Paul Kahan unique hospitality; and pop-up entertainment by local artists.

After reaching our expected return on investment threshold during phase 1, by Bally Chicago will expand its footprint with a $ 600 million investment to add up to 4,000 gaming stations in total; a fully-built 400-room hotel tower with a rooftop pool and bar; a furnished terrace with a larger swimming pool, spa, fitness center and sun terrace; a flexible 3,000-seat indoor entertainment venue that can accommodate large shows, small meetings and private events; a 20,000 square foot exhibition space with both a Chicago sports museum and rotating immersion exhibitions organized by the Immerse agency; and an expanded food and beverage program with other large format restaurants, including a Erick williams gourmet steakhouse.

In response to the City’s request that a temporary facility be operated while the permanent facility is being developed, by Bally Chicago intends to operate a temporary facility adjacent to the Chicago Tribune Publishing Center site. The site, its facilities and its experience, will allow visitors to discover the by Bally Chicago brand and serve as a precursor to the permanent installation.

by Bally intends to take advantage of airport footfall by using a portion of the 4,000 available gaming stations allocated to the project and will work with the City to properly size the number of positions to be placed at O’Hare and Midway airports. We believe that, properly marketed, airport visits will attract additional customers for by Bally Chicago and generate additional tax revenue for the City.

Fair economic development and investment

Chicago native and by Bally Director Wanda Y. Wilson said, “From design and construction to operations and ownership, by Bally Chicago is committed to providing meaningful leadership roles, well-paying jobs, and investment opportunities to all Chicagoans, especially MBE / WBE / VBE / DBE certified businesses and minority and women residents. I have spent my career in video games and am proud to be a director and investor in by Bally. Its commitment to innovation, culture and property diversity make it a leader in the industry. Everyone knows the Bally name, and this worldwide recognition will attract visitors by Bally Chicago. “

Investors

by Bally that of Chicago minority investors hold a 25% stake in the project and include philanthropists, business owners, sports stars, celebrities and everyday Chicagoans from African American and Latin American communities, as well than other ethnic and gender representations.

Construction management team

by Bally Chicago set a construction target of 46% MBE / WBE, exceeding city requirements. Its construction management team is the Chicago Community Builder’s Collective, a partnership between Brown & Momen, Inc., dEscoto, Inc., LiveWire Construction, Inc., Milhouse Engineering & Construction, Powers & Sons Construction, UJAMAA Construction, Inc. and Riteway – Huggins Construction Services, Inc. – all MBE certified companies – and SQN Associates, LLC, a W / M / DBE certified company, and Gilbane Building Company, a leading national construction company with more than four decades of ‘experience in the Chicago.

“This team will bring together broad and diverse perspectives and experiences to collaboratively create an entertainment destination that all Chicagoans can be proud of. By bringing this team together, by Bally supports minority and women owned businesses that would otherwise not have the capacity to bid on a project of this scale and in doing so further improves their credentials and ability to compete individually on future large scale projects. Additionally, given our long track record as a worker friendly operator, we look forward to working with local unions on this exciting project, ”said Georges papanier, by Bally President, Retail.

Operations team

by Bally Chicago recruit, train and hire a team that reflects the diversity of the City. Through workforce development partnerships with community organizations, nonprofits and City Colleges of Chicago, by Bally Chicago is committed to achieving the following recruitment goals:

  • Supplier diversity target of 30%
  • Hiring target of 45% women
  • 45% minority hiring target
  • Hiring target of 5% of veterans
  • 5% of disabled people hiring target

by Bally Chicago: Our flagship property

by Bally Corporation is licensed by the Illinois Gaming Board under its ownership of by Bally Quad Cities, but does not operate, own or partially own any casino properties elsewhere in the Chicago Marlet. Leveraging its global reach and cross-platform online activities, by Bally all attention will be paid to the conduct of visitors to by Bally Chicago.

To learn more about by Bally Chicago, visit www.BallysChicago.com.

On by Bally company

by Bally Corporation is a global casino entertainment company with a growing omnichannel presence in online sports betting and iGaming offerings. It currently owns and operates 14 casinos in 10 states, from a racetrack to Colorado and has access to OSB licenses in 15 states. It also owns Gamesys Group, a leading global online gaming operator, Bally Interactive, a premier sports betting platform, Monkey Knife Fight, the fastest growing daily fantasy sports site in North America, SportCaller, a leading global B2B free game provider, and Telescope Inc., a leading provider of real-time fan engagement solutions.

With approximately 10,000 employees, the Company’s casino operations include more than 15,800 slot machines, 500 table games and 5,300 hotel rooms. Following the closing of the previously announced Tropicana Las Vegas (NV) transaction, as well as the completion of construction of a land-based casino near the Nittany Mall in State College, Pennsylvania, by Bally will own and operate 16 casinos in 11 states. Its shares are listed on the New York Stock Exchange under the symbol “BALY”.

Advisers

Innovation Capital, LLC acts as financial advisor to by Bally.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of federal securities laws. Forward-looking statements can generally be identified by the use of words such as “anticipate”, “believe”, “expect”, “intend”, “plan” and “” or, in each case, their negative or other variations or comparable terminology. These forward-looking statements include all matters which are not historical facts. By their nature, forward-looking statements involve risks and uncertainties as they relate to events and depend on circumstances which may or may not occur in the future. Therefore, these statements are not guarantees of future performance and actual events may differ materially from those expressed or suggested by forward-looking statements. Any forward-looking statement made by by Bally in this press release, its reports filed with the Securities and Exchange Commission and other public statements made from time to time speak only as of the date of publication. New risks and uncertainties arise from time to time, and it is impossible for by Bally to predict or identify all of these events or how they may affect it. by Bally has no obligation and does not intend to update any forward-looking statements after the date hereof, except as required by federal securities laws. Factors that could cause these differences include those included in by Bally Annual reports on Form 10-K, quarterly reports on Form 10-Q and other reports filed by by Bally with the SEC. These statements constitute by Bally cautions under the Private Securities Litigation Reform Act of 1995.

by Bally Company Investor Contact

Robert Lavan

Senior Vice President – Finance and Investor Relations

401-475-8564

Investor [email protected]

Media contacts

ADORN Lewis-Mitchell

Flowers communication group

312-318-9696

[email protected]

Jessica smith

Jasculca Terman Strategic Communications

708-218-2759

[email protected]

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