Bally's Atlantic City Hotel & Casino

Bally’s Corporation Completes Acquisition of Bally’s Atlantic City

Published

4 years ago

November 20, 2020

Bally’s Corporation has completed the acquisition of Bally’s Atlantic City Hotel & Casino from Caesars Entertainment Inc. and Vici Properties Inc. The purchase price of the acquisition was $25 million, subject to customary adjustments, and was funded with cash on hand.

“We strongly believe in the potential of the Atlantic City market and are confident that we can restore Bally’s to its former glory. We are pleased to close on this transaction, which represents the latest addition in our ongoing portfolio diversification strategy, and look forward to implementing our capital improvement plans to completely renovate the property with first-in-class amenities and offerings. We have a proven track record of implementing strategic initiatives at acquired properties in order to drive growth and revenue improvements, and plan to bring the iconic property to a level not seen in years,” George Papanier, President and Chief Executive Officer of Bally’s Corporation, said.

Bally's Atlantic City Hotel & Casino

Bally’s Atlantic City Hotel & Casino opens FanDuel Sportsbook

Published

4 years ago

December 23, 2020

GamingAmericas.com

Bally’s Corporation and FanDuel Group announced the opening of the “FanDuel Sportsbook at Bally’s Atlantic City Hotel & Casino.” This temporary sportsbook, which will utilize FanDuel’s proprietary risk and trading technology that leverages the IGT PlaySports platform, is the first retail sports betting operation for FanDuel in Atlantic City.

The FanDuel Sportsbook will initially feature six live odds boards, ten self-service IGT PlaySports betting kiosks, and three live betting windows with attendants available to assist customers with the sports betting process. It will allow bets on all major U.S. sports, including professional baseball, soccer, football, basketball, golf, boxing, motorsports racing, and more, and operate in accordance with all CDC and local health guidelines and protocols.

“We are very excited to announce the opening of the FanDuel Sportsbook at Bally’s AC. It is the first of many planned capital improvement projects at Bally’s Atlantic City and a testament to our commitment to reinvest in our physical property portfolio,” said George Papanier, President and Chief Executive Officer of Bally’s Corporation. “We are also looking forward to once again implementing the winning combination of Bally’s nationwide expertise in gaming and casino operations, with FanDuel’s market-leading sports betting acumen and globally recognized brand, to provide an unrivaled sportsbook experience for our loyal Atlantic City customers.”

Design and construction are currently underway on the permanent FanDuel Sportsbook location, which Bally’s expects to open in Spring 2021. The state-of-the-art, best in class facility will span 4,100 square feet and consist of 34 self-service IGT PlaySports betting kiosks, and 5 attended, live wagering windows. It will also feature a luxury 80-seat lounge with 30 reclining club chairs, oversized LED video walls, a thoughtful food and beverage menu including self-service craft beer, and a sensational game-day atmosphere.

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“We are excited to be one the first pieces of the Capital Improvement Project at Bally’s Atlantic City Casino & Hotel,” said Keith Wall, Vice President of Retail, FanDuel Group. “While we are eager to get up and running with our temporary sportsbook, we cannot wait until we open the permanent location and showcase to Atlantic City why FanDuel is the number one sportsbook in New Jersey.”

The temporary FanDuel Sportsbook at Bally’s Atlantic City, which is directly accessible from the Atlantic City boardwalk and prominently located on the main casino floor, will be open 24 hours a day, seven days a week for self-service kiosks. Attendants will be available at live wagering stations Monday through Friday, 12:00pm-10:00pm ET, and Saturday and Sunday, 10:00am-10:00pm ET.

Bally’s Atlantic City, located in Atlantic City, New Jersey, is situated prominently in the center of the Atlantic City boardwalk. This iconic property includes 1,500 slots, 105 tables and 1,214 hotel rooms. Bally’s Corporation completed its acquisition of Bally’s Atlantic City Hotel & Casino in November 2020.

SOURCE Bally’s Corporation; FanDuel Group