Bally's Corporation
Bally’s Twin River Lincoln Opens New Casino Gaming Area
Bally’s Corporation announced that the Bally’s Twin River Lincoln Casino Resort officially opened 40,000 square feet of new gaming space in a landmark expansion of its casino floor. This expansion fulfills a key component of the Marc A. Crisafulli Economic Development Act enacted by the General Assembly and signed into law by Governor McKee in 2021.
To mark the occasion, Bally’s representatives, including Craig Eaton, Head of Bally’s Rhode Island Operations, Paul Juliano, Senior Vice President, Craig Sculos, Senior Vice President of Regulatory Affairs, and Tony Rohrer, Regional Vice President & General Manager, were joined by Governor Daniel McKee, Speaker of the House K. Joseph Shekarchi, Senator Frank Ciccone, who serves as Chair of Joint Committee on State Lottery, Lincoln Town Administrator Philip Gould, and George Nee, President, AFL-CIO, at Bally’s Lincoln for a grand opening ceremony.
“We are pleased to celebrate today’s grand opening alongside so many of our valued partners, including Governor McKee, House and Senate Leadership, our union workforce, and our regulators, the Division of Lottery and Department of Business Regulation. Our expanded gaming floor, combined with other property improvements, represents a $100 million investment in Rhode Island to generate much needed revenue for our home state,” Mr. Eaton said.
“The new gaming area includes 355 slot machines, 57 table games, 27 stadium-style games, and a first-class, high limit gaming area. Our expanded footprint also blends with the existing facility design, incorporating several feng shui principles such as a large waterfall. Additionally, a new, comfortable, and contemporary food hall provides seating for 150 guests, including an exclusive private dining area with exterior views. Finally, adjacent to the new 16-seat casino bar is ‘Plume & Proof,’ a cigar lounge with access to an outdoor smoking patio,” Mr. Eaton added.
“This expansion marks another important milestone for not only Bally’s Lincoln but for Rhode Island itself. We are grateful to Bally’s for its ongoing partnership that contributes to our workforce, our economy, and our State as a whole. I also want to congratulate Bally’s on the successful completion of this crucial expansion and continued investment in Rhode Island’s future,” Governor McKee said.
“I was pleased to sponsor the legislation that paved the way for today’s grand opening ceremony, and I congratulate Bally’s on its continued investment in our State and its workforce,” Speaker Shekarchi said.
“I applaud Bally’s efforts to continuously reinvest in itself and this State by improving upon an already wonderful gaming facility, and in so doing, fulfilling their commitment to constantly improve all they offer their customers, stakeholders, and the taxpayers of Rhode Island,” Senate President Dominick Ruggerio said.
“Today is an important day for not only the tradespeople we represent who built this beautiful addition, but also for the close to 1000 union members who service and operate this facility day in and day out. We celebrate the fact that over 20 unions and hundreds of union members played a role in expanding, modernizing, and operating Bally’s Twin River Lincoln Casino Resort. Thank you to Bally’s for its continued commitment to preserve and enhance the family sustaining wages and benefits opportunities that it provides to our members,” George Nee said.
“On behalf of the Town of Lincoln, congratulations to the entire Bally’s team on today’s grand opening and we thank you for your dedication to your host community of Lincoln,” Administrator Gould said.
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Bally’s Corporation announced that Mira Mircheva has been appointed as Executive Vice President (EVP) and Chief Financial Officer (CFO), subject to regulatory approvals. Marcus Glover, Bally’s current CFO, has been appointed to serve as Bally’s Executive Vice President, Global Operations Group.
Ms. Mircheva is a senior executive in the hospitality and gaming industry with more than 25 years of experience in finance. Most recently, Ms. Mircheva served as Chief Financial Officer of The Queen Casino & Entertainment. Prior to that, she was Partner & Research Analyst at Standard General. Ms. Mircheva was previously a Senior Research Analyst at Perella Weinberg Partners Asset Management. Before that, Ms. Mircheva worked as a Vice President in credit principal investing at Goldman Sachs. She joined the Goldman Sachs Investment Banking Division as an analyst in 2001. She is currently a member of the Board of Directors of White Energy and Intralot S.A.
“On behalf of the Board of Directors and the entire leadership team, I am thrilled to welcome Mira to Bally’s. She brings considerable experience to this role and her experience as CFO of The Queen Casino & Entertainment will be invaluable as we integrate Queen into Bally’s,” Robeson Reeves, CEO of Bally’s, said.
“Mira’s experience as a CFO and strong financial acumen and operational experience make her the right person to help Bally’s continue to grow and achieve our long-term financial goals,” Soo Kim, Chairman of Bally’s Board of Directors, said.
“I am thrilled to be joining Bally’s at such an exciting time for the Company and to leverage my experience with Queen to continue to strengthen our financial position by optimizing our cost structure, enhancing the efficiency of our operations and leveraging the collective experience of our Board and my newest colleagues across the globe,” Ms. Mircheva, Bally’s incoming EVP and CFO, said.
The post Bally’s Appoints New Executive VP and Chief Financial Officer appeared first on Gaming and Gambling Industry in the Americas.
Bally’s Corporation has completed the previously announced transactions with Standard General and its affiliates including The Queen Casino & Entertainment, a regional casino operator majority-owned by funds managed by Standard General.
Pursuant to the terms of the merger agreement, Bally’s and Queen combined, with Queen shareholders receiving consideration of 30.5 million shares. Thereafter, the Company paid cash consideration of $18.25 per share to holders of 22.8 million of the Company’s outstanding shares. The cash merger consideration was financed by the issuance of $500 million in senior secured notes due in 2028 provided exclusively by funds managed by Apollo, along with Bally’s available funds on hand and its available funding sources.
Bally’s stockholders owning 17.9 million outstanding shares elected to retain their Bally’s stock by means of a rollover election and continue as stockholders of Bally’s. As a result, 48.4 million shares of common stock are now outstanding upon completion of the merger transactions. Warrants representing the right to purchase up to 11.6 million shares of Bally’s common stock also remain outstanding.
Shares of Bally’s common stock trading under the “BALY.T” ticker which remain outstanding as a result of the rollover election will continue trading on the New York Stock Exchange and revert back to the “BALY” ticker.
The post Bally’s Completes Transactions with Standard General appeared first on Gaming and Gambling Industry in the Americas.
Bally’s Interactive, the digital and sports betting division of Bally’s Corporation, announced the official launch of the Bally Bet Sportsbook app in Tennessee, marking its expansion into the tenth state. This milestone comes on the heels of recent successful Bally Bet launches in Massachusetts and Maryland.
Sports enthusiasts across the Volunteer State can now revel in the comprehensive offerings of the Bally Bet sportsbook app. With a wide array of betting options, including spread, money line and total bets, as well as in-game betting and same game parlays, Tennessee sports fans will have an unparalleled wagering experience.
The newly introduced Parlay Zone, available on the app’s homepage, allows users to select and customize daily pre-built parlays from a variety of popular sporting events. Additionally, users can access the Picks tab on the homepage to gain valuable insights from industry-leading influencers through video clips. Picks, powered by Wager Games, also offers an extensive selection of pre-built and customizable parlays, ensuring a personalized and engaging betting experience.
As an official sports betting partner of the Nashville Predators, Bally Bet has actively engaged with the team’s fan base running social promotions like the “Goals for Gear” official Predators jersey giveaway on the @BallyBet Instagram channel, Bally Bet has fostered a strong connection with the Predators’ loyal supporters. With the app’s launch, fans can anticipate even more exciting in-arena and social activations throughout the NHL season.
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