Bally's has accepted a buyout offer from its largest shareholder for more than $4.5 billion.
Bally's has accepted a buyout offer from its largest shareholder, hedge fund Standard general led by chairman Soo Kim, for more than $4.5 billion.Bally's has accepted a buyout offer from its largest shareholder for more than $4.5 billion.Standard General, a hedge fund led by Bally's Chairman Soo Kim, will buy the remaining shares of the company, which will keep it publicly traded.The buyout was announced as Bally's works to build a new casino along the Chicago River.
It is also currently operating a temporary casino at the Medinah Temple in River North.after saying it secured funding for the complex. The site plan includes a 500-room, 34-story hotel tower at the former Tribune Publishing site, pending approval from the Chicago Department of Planning and Development.The Illinois Gambling Board said they are aware of the buyout and are reviewing it. There is no word on whether this will have any impact on the permanent Chicago casino.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Bally's renderings revealed, as company says it secured funding for permanent Chicago casinoBally's took possession of Chicago Avenue property last week
Read more »
Bally’s Chicago secures casino financing, unveils new hotel designBally’s announced a deal Friday with Gaming & Leisure Properties, a Pennsylvania-based real estate investment trust, to provide $940 million to fund the construction of the permanent casino.
Read more »
Bally's secures funding to complete permanent Chicago casino on timeBally's secures funding to complete permanent Chicago casino on time
Read more »
Bally's releases new renderings of permanent Chicago casino, financing securedBally's released updated site plans and new renderings showing a 500-room, 34-story hotel tower alongside the Chicago casino.
Read more »
Bally’s $1.7 Billion Chicago Casino and Hotel Project Secures FundingLocated in Chicago's River West neighborhood, the proposed casino and 34-story, 500-room hotel are set to open in September 2026.
Read more »
Our Chicago: Tornados Touch Down Across The Chicago AreaMore than two dozen tornadoes touched down across the Chicago area last Sunday and Monday nights, according to NWS.
Read more »