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Industry
May 23, 2024
Rhode Island Delays Decision on Casino Smoking Ban Bill
The battle against indoor smoking in casinos across the United States has been ongoing for decades. Years after the ban on smoking in public places, there are still states that permit the activity on the casino floors. Rhode Island is one state where legislation, calling for smoke-free casinos, is slowly advancing. Yet, the proposal, which […]
Casino
May 21, 2024
Bally’s Proposes Doubling Gambling Credit Limit to $100,000 in Rhode Island
Bally’s is trying to increase the gambling credit limit at its two properties in Rhode Island from $50,000 to $100,000 in order to stay competitive and attract high-stakes players. Not surprisingly, this move has sparked concerns despite the fact that Bally’s has secured the support of Senate President Dominick Ruggerio. Bally’s Representative Tackles Concerns Over […]
Business
May 17, 2024
Bally’s Shareholders Reject Smoke-Free Policy Proposal
During a brief virtual annual shareholder meeting, Bally’s Corporation turned down a proposal that wanted to explore the potential benefits of implementing a smoke-free policy across all Bally’s properties, including those located in Rhode Island. Trinity Health Proposes Smoke-Free Policy at Bally’s The proposal was presented by Trinity Health and the American Nonsmokers’ Rights Foundation. […]
Industry
May 2, 2024
Bally’s Anticipates Further UK Growth with Online Betting Entry
Earlier this week, the leading gaming, hospitality and entertainment company, Bally’s Corporation, released its first quarter financial results. At the time, the company revealed a company-wide revenue of $618.5 million for Q1, marking an increase of 3.3% year-over-year when compared to the corresponding period in 2023. Despite the performance, which Bally’s CEO, Robeson Reeves acknowledged […]
Business
May 2, 2024
Bally’s Q1 Financials: Losses Offset Favorable Revenue
Bally’s Corporation has published its Q1 results, reporting what CEO Robeson Reeves called a “solid start” to the year. Unfortunately, the favorable performance across several segments was offset by a loss of $173.9 million, triggering a decline in the company’s share price. For Q1, Bally’s reported company-wide revenue of $618.5 million, representing an increase of […]
Business
May 2, 2024
Bally’s to Open Chicago Casino on Time, Doesn’t Plan to Rush Tropicana’s Redevelopment
Bally’s Corporation, which just posted its Q1 results, commented on its plans for the future. According to the company, its permanent Chicago casino should welcome its first guests by Q3 2026, despite the struggles. In the meantime, Bally’s will not rush the redevelopment of the Tropicana site. The gambling company addressed these issues during its […]
Industry
April 23, 2024
Trinity Health Urges Bally’s Shareholders to Reject Indoor Smoking
Trinity Health’s efforts against indoor smoking continue as the Michigan charity doubles down on its goal of taking the fight to the shareholder level. The Livonia-headquartered nonprofit hospital network hopes to end smoking at Bally’s Corporation-owned properties across the country and end the operator’s exemption from the smoking bans in places like Rhode Island and […]
Business
April 15, 2024
Sinclair Broadcast Group Divests 7.91M of Bally’s Shares
The leading gaming and entertainment company, Bally’s Corporation, announced it registered to sell some 7.9 million shares on behalf of SBG Gaming LLC, a company that is a wholly-owned subsidiary of Sinclair Broadcast Group Inc. Details regarding the divestment came from a Form S-3 filing with the Securities and Exchange Commission (SEC) dated April 12, […]
Casino
April 5, 2024
Bally’s Prepares to Implode Tropicana by the End of the Year
As the demolition of the Tropicana casino hotel in Las Vegas draws near, Bally’s Corporation is trying to secure the necessary permits for imploding the property. Because of the procedure’s intricacies, the casino operator would need to secure dust control and asbestos abatement permits, among other permits. Traffic would also need to be taken into […]
Business
April 3, 2024
Bally’s Remains Bullish on Petersburg Casino Despite Credit Rating Setbacks
Bally’s Corporation just suffered another setback as Fitch Ratings, an American credit rating agency, lowered its outlook on the operator. Previously B+, the company’s rating has now been reduced to B because of the casino company’s precarious financial situation. Fitch is not the only big credit rating agency to lower Bally’s either. Previously, Moody’s and […]