Bally's
Bally’s Partners With Private Investor On An Up To $500 Million Sale Leaseback For Future Site Of Bally’s Chicago
Bally’s Corporation announced that it has closed a transaction with one of Chicago’s leading real estate private equity firms (the “Investor”), whereby such Investor acquired for $200 million, the approximately 30-acre Tribune Publishing Center site (the “Land”) 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 lease includes an initial 99-year term, followed by ten separate 20-year renewals at Bally’s option. As part of the transaction, as specified construction milestones are completed, at Bally’s request, the Investor will fund up to an additional $300 million for Bally’s Chicago’s development through the ground lease structure. The initial rental rate under the ground lease is calculated to yield the Investor an 8.5% annual capitalization rate, adjusting to a 7.0% annual capitalization rate upon the receipt by Bally’s of certain development entitlements and gaming approvals. The rent is also subject to periodic CPI increases.
Soo Kim, Chairman of the Board of Bally’s, said, “We are excited to be partnering with one of Chicago’s leading real estate private equity firm as we progress with building our $1.7 billion flagship property in the Chicago market. We continue to demonstrate our commitment to delivering a world class entertainment facility that supports Chicago’s economy and community.”
Bobby Lavan, Chief Financial Officer of Bally’s, said, “This transaction is an important step in our development plan for Bally’s Chicago as we continue to work towards opening the temporary casino in mid-2023. With this new real estate partnership, Bally’s has ample liquidity on hand to fund Bally’s Chicago without needing to access the capital markets.”
Bally’s has the option to repurchase the Land from the Investor at a fixed capitalization rate during years four through eight of the lease term. In addition, if certain milestones are not achieved or Bally’s defaults under the lease, the Investor may require Bally’s to reacquire the Land at a specified price.
EPIC Global Solutions and Bally’s have announced a groundbreaking three-year partnership aimed at promoting responsible gaming and making a positive impact on communities. This collaboration positions both organisations as leaders in responsible gaming within the gaming industry.
The partnership between EPIC Global Solutions and Bally’s is driven by a shared commitment to creating safer and more enjoyable gaming environments. By leveraging EPIC’s innovative lived experience approach, the two companies aim to educate multiple partners in the gaming ecosystem, both in the UK and the US.
“Bally’s and EPIC Global Solutions are committed to setting new standards for responsible gaming with a three-year commitment. Together, we are creating safer and more enjoyable gaming environments through educating multiple partners in the gaming ecosystem, harnessing the power of EPIC’s lived experience approach in both the UK and US,” said Robeson Reeves, CEO of Bally’s Corporation.
The partnership will focus on promoting responsible gaming practices and raising awareness about the potential effects of gaming. By emphasising the importance of responsible gaming, EPIC Global Solutions and Bally’s aim to minimise the negative impact of gaming and ensure a more responsible approach within the industry.
EPIC Global Solutions’ lived experience approach will play a crucial role in this partnership.
Bally’s employees in the US will benefit from bespoke training from EPIC’s lived experience perspective that will be of particular significance to teams on the casino floor or in customer service roles, empowering them to make informed decisions and helping them to better engage with customers with their wellbeing and enjoyment in mind. The two organisations will also engage to create social media and digital campaigns that help to provide clear advice on responsible gaming best practice and the potential consequences of gaming.
“We are excited to partner with Bally’s to drive positive change in the gaming industry. By leveraging EPIC’s lived experience approach, we can make a significant impact on responsible gaming practices globally,” said Paul Buck, EPIC Global Solutions founder and CEO.
The partnership between EPIC Global Solutions and Bally’s represents a significant step forward in promoting responsible gaming and community impact.
White Hat Studios, the fast-growing slots provider to the US iGaming market, has become the first supplier in the region to go live in seven regulated iGaming states after launching with Bally’s in Rhode Island.
The landmark achievement demonstrates the provider’s substantial growth throughout the country, becoming one of the leading suppliers of casino entertainment within all major regulated states.
Rhode Island follows West Virginia, New Jersey, Michigan, Connecticut, Pennsylvania and Delaware in the line-up of states in which White Hat Studios content has gone live, following partnerships with major brands including BetMGM, FanDuel, DraftKings and Caesars. The supplier recently celebrated its 50th operator partner in the US, another impressive feat in its overall story since it was founded.
White Hat Studios has experienced outstanding success in the country with its multi-faceted portfolio of content, with the latest Eilers-Fantini Online Slots Features Report detailing how the provider has almost doubled its gross gaming revenue (GGR) shares at the start of 2024.
Its content offering also includes player-favourite titles including The Goonies
and Ted Cashlock, alongside its standout USP Jackpot Royale, with 30 games contributing to three progressive local operator jackpots which paid out a total of $9.8 million in 2023.
White Hat Studios is setting its sights on further growth and success in the US for 2024, with a strong product roadmap that is set to further cement its position as a leading supplier in the country.
Andy Whitworth, CEO at White Hat Studios, said: “Entering our seventh regulated state in the US market is another incredible milestone for us at White Hat Studios, and a showcase of our team’s sheer dedication to achieving our company-wide goals of becoming a leading supplier in the region.
“So far, our games have been embraced and enjoyed by hundreds of thousands of players in the US, with our partner operators noting impressive engagement rates. We’re confident that our entry into Rhode Island will help continue our upward trajectory.”
Craig Eaton, President, Rhode Island Operations at Bally’s, added: “White Hat Studios has become one of the most prominent providers in North America, and for good reason. Their dynamic, exciting slots – some of the most consistent top-performers in the market – are sure to thrill Bally’s customers.
“We look forward to a successful partnership, and we’re anticipating that our players will embrace their multi-faceted content offering.”
Bally's
Fanatics, Hard Rock Digital, PointsBet Join Coalition of Leading Online Operators Focused on Responsible Gaming
A coalition of the largest online gaming operators in the US, which came together last September to agree on industry-led responsible gaming standards, has welcomed three new members to its ranks: Fanatics Betting and Gaming, Hard Rock Digital, and PointsBet.
The industry-leading coalition now includes the following nine members: Bally’s, BetMGM, DraftKings, Entain, Fanatics, FanDuel, Hard Rock Digital, PointsBet, and MGM Resorts International.
“PointsBet is proud to join the Responsible Gambling Coalition to continue bolstering our commitment to this important topic. Responsible gambling is a core priority for our business and requires meaningful collaboration with all stakeholders, inclusive of operators competing within the same markets, to promote this aspect of our industry and ensure safe practices are followed,” Rachel Kasper, SVP of Legal and Compliance of PointsBet US, said.
“We are proud to collaborate and partner with our industry colleagues. We are committed to the 12 responsible gaming principals and providing our fans tools and resources to enjoy our products,” Anthony D’Angelo, Sr. Manager of Responsible Gaming at Fanatics Betting & Gaming, said.
“Hard Rock Digital is pleased to have this opportunity to collaborate with our fellow operators to promote and maintain an industry-wide atmosphere of responsible gambling. We’re committed to serving our players with educational tools, resources, and support to ensure a safe and enjoyable online gaming experience,” Danny Crook, SVP of Operations at Hard Rock Digital, said.
The industry-leading operators have further followed through on their commitment to the principles, which will be reviewed externally by a panel of experts who will provide guidance for future endeavors. Each operator has developed reports on their activities to date that align with each of the 12 principles, and projects carried out by individual members of the group include:
- Launched a variety of responsible gaming tools and sites.
- Appointed Responsible Gaming Ambassadors, including Craig Carton and Amanda Serrano, and worked with former New York Giant Amani Toomer and former New York Knick Charles Oakley to promote responsible gambling.
- Committed to the need for a unified, nationwide responsible gaming toll-free helpline, and continue to advocate for its adoption.
- Established research partnerships with industry-leading institutions including the Massachusetts Council on Gaming and Health, the Division on Addiction of the Harvard Medical School, and the ICGR Sports Wagering Research Fund.
- Partnered with the National Council on Problem Gambling (NCPG) by serving as donors and Advisory Board members; helping to fund the organization’s agility grant program; and supporting NCPG and its state affiliates through a State Council Funding Program.
- Received the RGCheck accreditation from the Responsible Gambling Council, the leading international authority on responsible gambling, with several others moving through the accreditation process.
Atlaslive Celebrates Multiple Nominations for EIGE 2024, Including Best Marketing Campaign
Tusk Casino Celebrates Trace’s R2.3 Million Jackpot Victory
Tusk Casino Celebrates Trace’s R2.3 Million Jackpot Victory
Week 36/2024 slot games releases
Amusnet and Betplay Toast to Success with Cocktail Rush by Melissa Martínez
Inspired Launches a Trio of Progressive Jackpot Slots
ACR POKER OFFERS PLAYERS A SECOND SHOT AT ONE OF 12 PACKAGES TO CHRIS MONEYMAKER’S POKER TOUR IN ARUBA
Players to Unleash Their Inner Outlaw in new slot game, Bank Wagon Heist
GG.BET is giving away tickets to the BLAST Premier Fall Final 2024 and offering a deposit bonus of up to +200%
Scientific Games to Continue Systems Technology Partnership with the Arizona Lottery
-
gaming2 years agoODIN by 4Players: Immersive, state-of-the-art in-game audio launches into the next generation of gaming
-
EEG iGaming Directory7 years ago
iSoftBet continues to grow with new release Forest Mania
-
News6 years ago
Softbroke collaborates with Asia Live Tech for the expansion of the service line in the igaming market
-
News6 years ago
Super Bowl LIII: NFL Fans Can Bet on the #1 Sportsbook Review Site Betting-Super-Bowl.com, Providing Free Unbiased and Trusted News, Picks and Predictions
-
iGaming Industry7 years ago
Rick Meitzler appointed to the Indian Gaming Magazine Advisory Board for 2018
-
News6 years ago
REVEALED: Top eSports players set to earn $3.2 million in 2019
-
iGaming Industry7 years ago
French Senator raises Loot Boxes to France’s Gambling Regulator
-
News6 years ago
Exclusive Interview with Miklos Handa (Founder of the email marketing solutions, “MailMike.net”), speaker at Vienna International Gaming Expo 2018
