Bally’s Corporation completes acquisition of MontBleu

Bally’s Corporation has announced the completion of the previously announced acquisition of MontBleu Resort Casino & Spa from Caesars Entertainment, Inc.

Located in Stateline, Nevada, MontBleu is situated just minutes from Lake Tahoe. The property features 417 slots, 17 tables, 438 hotel rooms, as well as 14,000 square feet of convention, meeting and exhibition space.

“MontBleu is a premier entertainment asset that is commensurate with the iconic Bally’s brand, and advances our ongoing portfolio diversification strategy,” said George Papanier, president and CEO of Bally’s Corporation.

“With the close of this transaction, we look forward to integrating the property into the Bally’s family, and utilizing it as an attractive destination for our loyal Bally’s customers to drive visitation to Lake Tahoe.”

Bally’s acquired Montbleu in a two-property package deal for $155m (£112.7m) as part of Eldorado Resorts’ bid to divest properties ahead of its acquisition of Caesars Entertainment, Inc. Bally’s was, however, an alternate buyer, after Eldorado initially announced it would sell to the privately held Maverick Gaming.

Tom Reeg, CEO of Caesars Entertainment, Inc, added: “I want to thank the team members of MontBleu for all of their hard work and dedication throughout the years with the Caesars organization, particularly during the COVID-19 pandemic. We wish all of them continued success under Bally’s ownership.”

Peter Lynch

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