Bally’s welcomes Mira Mircheva as its new CFO
Bally’s Entertainment has announced the appointment of former finance head of The Queen Casino & Entertainment, Mira Mircheva, as its new Chief Financial Officer (CFO).
...
Bally’s to offer Bronx residents casino investment
Bally’s is working on a plan to involve Bronx residents in its proposed casino hotel by offering them a chance to invest in the project.
If New York regulators award one of the three downstate casino licenses to Bally’s, it will be permitted to sell up to 10% of the casino to local residents. Soo Kim, Chairman of Standard General, disclosed that people would be allowed to invest as little as $250, with the potential for significant returns if the casino performs well.
Bally’s plans to develop the casino on the site of the former Trump Golf Links in the Bronx, which they acquired for $60 million. This move mirrors Bally’s previous effort in Chicago, where it also considered selling equity in its casino. However, that plan faced challenges, including legal issues and a complicated IPO with specific demographic participation requirements.
Bringing a casino to the Bronx is not without opposition. There are 11 bids for only three New York City-area casino licenses. Additionally, the site they’re eyeing is currently designated as parkland, and any development would require new legislation to change that designation, a process that has yet to gain political support.
As the casino’s future is uncertain, Bally’s is hoping to offer an opportunity for residents to be a part of the project and potentially benefit from its success.
Bally’s Corporation reports Q4 decline by 5.1%
Bally’s Corporation has announced financial results for 2024, highlighting a revenue decline in Q4 by 5.1% year-over-year to $580.4 million.The Q4 decline was largely...
