Bally’s invites Illinois residents to invest in Chicago casino
Those who live in Illinois and Chicago would be given preference.
Key Points
- Chicago and Illinois residents would have preference in casino investment opportunities
- The company has teamed up with several local charities and organizations during the past year
Bally’s Chicago has recently announced in a Securities and Exchange Commission filings some expanded ownership opportunities that would give preference to City of Chicago and Illinois residents.
“We take pride in having attracted a substantial amount of interest in ownership from women and minority groups,” said Bally’s Corporation Chairman Soo Kim. “To make this investment available to even more Chicagoans who make this City so great we are extending our investment opportunities, with a preference for residents of Chicago and other parts of Illinois. We remain steadfast to our commitment to the City of Chicago and the development of a thriving community.”
Loop Capital Markets CEO Jim Reynolds discussed the growing interest in public investments.
He commented, “As the lead placement agent for the Bally’s Chicago IPO, we’ve seen interest from thousands of people who appreciate having access to this unique investment opportunity in a one-of-a-kind casino and resort project in the City of Chicago.”
Last year, Bally’s Chicago established partnerships with several local businesses, charities and civic organizations. Some of these included the Chicago Federation of Labor, Hispanic American Construction Industry Association, Urban League, Rainbow Push, Friends of the River, Chinese Mutual Aid Association and Equality Illinois.
The company is currently developing its permanent Chicago casino location. Once completed, the venue will be home to 4,000 gaming positions, as well as to an exhibition hall, 500-room hotel, a 3,000-seat theater and 10 restaurants.
Good to know: Bally’s anticipates opening the destination by 2026
Until then, Bally’s Chicago is currently operating as a temporary casino at Medinah Temple until the company completes its permanent location.
Bally’s recently offered residents in The Bronx a piece of the investment action through an effort to secure a bid for a casino license to open a facility in the neighborhood.
The offer would allow residents to purchase shares in the casino entertainment destination, which would be located close to the Ferry Point golf course.
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