Bally's Atlantic City
Twin River to Invest $90M into Bally’s Atlantic City
Twin River Holdings is going to invest $90 million to upgrade Bally’s Atlantic City.
Twin River, which is going to change its name to Bally’s, is in the process of buying the casino from Caesars Entertainment for $25 million in a transaction that is expected to close by the end of this year.
“We want to make sure Bally’s is competitive again and return it to its former glory. We’re committed to making it a signature property again at the center of the Boardwalk,” Marc Crisafulli, executive vice president of Twin River, said.
Bally’s was the third casino to open in Atlantic City, debuting in 1979, and once led the city’s gambling market.
“It was named after the Monopoly board: Bally’s at Park Place. The sixth floor of Bally’s was the place to see and be seen,” Lloyd Levenson, an attorney representing Twin River, said.
But the years have not been kind to Bally’s, which now ranks dead last out of Atlantic City’s nine casinos in terms of revenue won from gamblers.
Twin River, which had planned to invest $65 million into the property, said Wednesday it now plans to invest $90 million. Twin River has nearly a half-billion dollars worth of liquidity to draw upon, according to chief financial officer Stephen Capp.
The company plans to build a new sportsbook at Bally’s once the sale goes through and it obtains a casino license.
Powered by WPeMatico
-
Aposta Ganha7 days ago
Aposta Ganha strengthens LatAm sports betting market integrity with IBIA membership
-
Eastern Europe7 days ago
TotalBet Joins Forces with Fast Track to Boost Player Engagement
-
Latest News7 days ago
NIFL Strikes Exclusive Data & Streaming Deal With FeedConstruct
-
Canada6 days ago
Court Decision Upholds iGaming Ontario’s Model
-
Compliance Updates6 days ago
Supremeland Gaming Continues U.S. Expansion With Supplier License Approval In Michigan
-
Asia5 days ago
From LatAm to Asia: Meet GR8 Tech at SiGMA Manila
-
Latest News5 days ago
Games Global and OROS Gaming add to acclaimed series with Magnificent Power Wolf Fire Spirit™
-
Latest News5 days ago
NetBet Casino Joins Forces with Yggdrasil