Bally's second quarter revenue increases, attributable to profits from casinos and online gaming sectors
Bally's Corporation Announces Major Transformative Sale and Expansion Plans
Bally's Corporation, a leading name in the gaming industry, has announced a significant move that is set to reshape its future. The company has agreed to sell its International Interactive business to Intralot S.A. for €2.7 billion ($3.14 billion) in cash and stock, a deal that will make Bally's the majority shareholder in the Greek lottery and gaming technology company [1].
The sale to Intralot S.A. is not just a financial transaction; Bally's described it as transformative, combining Bally's gaming and data technology with Intralot's lottery expertise [1]. This strategic move is expected to strengthen liquidity and reduce debt due in 2028.
While the sale to Intralot S.A. marks a significant step forward, Bally's is not resting on its laurels. The company has two major ongoing development projects in Chicago and New York City that reflect its strategic investment to expand its physical casino footprint and enhance gaming and entertainment experiences in major U.S. cities.
In Chicago, Bally's is developing a $1.7 billion casino and entertainment complex on a 30-acre site along the Chicago River near Grand Avenue, Chicago Avenue, and Halsted Street. This project will transform a former printing plant into a casino with 3,300 slots, 173 table games, a 500-room hotel, a 3,000-seat theater, six restaurants, cafes, a food hall, and a 2-acre public park. The casino is expected to create over 3,000 permanent jobs [2][5]. Construction has faced setbacks, including a demolition accident and unforeseen underground infrastructure that required redesign, which has delayed the opening from September 2026 to 2027. Currently, foundational work is underway, and a temporary casino operates in the Medinah Temple generating revenue since September 2023 [1][2][5].
In New York City, Bally's is engaged in a proposed $4 billion casino project in the Bronx. While details are limited, it is a significant development tied to Bally's expansion efforts [4]. If successful, this project could make it the largest private investment in the borough of the Bronx's history [3].
Bally's move to invest in Star Entertainment Group fits its strategy of targeting underperforming operators with the aim of creating shareholder value [6]. The company has invested AUD $200 million ($133 million) in Star Entertainment Group, with the option to raise its stake to 38% [6].
References:
- Bally's Corp. to sell international interactive business to Intralot S.A. for $3.14 billion
- Bally's Chicago casino complex includes a 3,000-seat theater, 500-room hotel
- Bally's Bronx casino project could be largest private investment in borough's history
- Bally's to build $4 billion casino in the Bronx
- Bally's Chicago casino opens temporary facility ahead of 2027 launch
- Bally's invests AUD $200 million in Star Entertainment Group
Technology will play a significant role in the planned casino-and-gambling complex in Chicago, as Bally's plans to integrate advanced gaming technology into the 3,300 slots and 173 table games.
In line with its strategic expansion, Bally's Corporation has also shown interest in sports by investing in Star Entertainment Group, aiming to boost shareholder value and targeting underperforming operators.
