Bally’s Corporation, an industry giant, released the information about the draft registration statement on Form S-1 with the Securities and Exchange Commission. The draft is confidentially submitted, and it is related to the planned Bally’s resort and casino in Chicago, precisely, its ownership interests. The statement is related to the proposed initial public offering of Illinois casino.
The ownership interests of the Chicago residents:
Chicago’s residents will be able to get a stake in the ownership of the casino, according to the Host Community Agreement that had been signed between the city and Bally’s Chicago. The qualification requirements, among other things, included the ownership interests of the city’s residents.
However, additional details such as the price range, the number of interests, and the terms under which the interests will be signed are still unknown. It is expected that the solution that both parties can agree on will be found in the initial public offering, which is planned to be scheduled after the review process is completed.
It’s still unclear if Bally’s plans on any transactions related to its new casino’s ownership interests, and the company doesn’t want to comment anything about it before the details are determined.
Any mention of the possibility of buying any securities at the casino can’t be found in the press release.
However, the included parties can’t decide anything upon the selling or buying of the ownership interests without consulting the registration requirements that are issued by the Securities Act of 1993, which is prescribed by the Rule 135 of the same Act.
Bally’s – growing industry giant:
Bally’s Corporation is currently one of the leaders in the industry in the U.S. market. The company’s Online Sports Betting and iGaming offerings made a huge impact on the industry, and its omni channel presence grew the company to the position of the industry giant.
The company currently possesses 15 casinos in 10 U.S. states, as well as the famous horse racetrack in Colorado. It also obtained 18 OSB licenses in various states.
The owner of Bally’s Casino is the former Gamesys Group, now called Bally’s Interactive International, a well-known company in the online gaming industry, along with Bally Bet, a famous sports betting platform, and Bally Casino, a popular platform that offers various iCasino services.
The Bally’s Casino currently provides about 10.500 people with jobs. The company’s casinos feature about 15.000 slot machines, approximately 600 table games, and about 5.300 rooms for guests that want to stay the night in its luxurious hotels.
The most recent additions to the Bally’s family are a new temporary facility in Chicago, as well as the building in State College in Pennsylvania, which will be located near the Nittany Mall. After these casinos open, the company will be in charge of 17 casinos in 11 states.