Bally’s completes first community investment round for Chicago casino

Bally’s Corporation has closed the initial round of its Community Investment Program for the Bally’s Chicago Casino & Resort, enabling non-accredited local residents to invest directly in the project. 

The offering, which became effective this year, marks the first phase of what the company says will be several placements of investments.

The program attracted nearly 1,800 unique shareholders, including 1,007 Chicago residents and 1,573 based in Illinois. 

Bally’s said the initiative is intended to fulfil commitments made to the City of Chicago by giving residents an opportunity to hold an ownership stake in the development.

Bally’s Chicago will be a large-scale entertainment destination featuring a 500-room hotel tower, 3,500 slots and table games, a rooftop restaurant and bar, a pool, spa, fitness centre, a 3,000-seat theatre, a two-acre park and a 2,000-foot riverwalk. 

Good to know: Bally’s reported that its Bally’s 2.0 transformation plan is progressing

“This is the first of what Bally’s Chicago intends to be a few rounds of placements,” the company stated, noting that Loop Capital Markets is managing the investment program. 

The registration statement and prospectus are currently available through the US Securities and Exchange Commission.

The New York City Council has recently rejected Bally’s plan to build a casino in the Bronx, halting a project that aimed to bring a large-scale gaming and entertainment venue to the borough. 

Carlos Mendez

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