Bally’s Chicago, Inc. this week announced the commencement of its offering of a 25% equity stake in its planned Chicago casino and resort project.
Bally’s Chicago has begun marketing the initial public offering and concurrent private placement of its equity ownership interests (offering by prospectus and information memorandum only).
Go here for more information on this project.
Loop Capital Markets is acting as the sole placement agent in the offering.
The monies raised are intended to support the funding for Bally’s planned permanent casino and resort, located at the historic former Tribune Publishing site in Chicago. Prospective investors can learn more by visiting www.ballyschicagoinvest.com.
The Bally’s Chicago casino and resort, to be located at 777 W. Chicago Ave., will create inclusive, dynamic spaces, including plans for a 3,000-seat theater, a two-acre public park and open outdoor spaces, six restaurants, cafes and a food hall. The lower riverbank will be connected to the property with an approximately 2,000-foot extension of the riverwalk.
The casino is being designed to offer space for approximately 3,400 slots, 173 table games and VIP gaming areas, while the hotel tower is being designed to include a large pool spa, fitness center and sun deck, as well as a rooftop restaurant bar to enjoy the Chicago skyline. The planned 500-room hotel tower will now be located on the south end of the site.
The Bally’s Corporation, which also owns Bally’s Quad Cities Casino and Hotel in Rock Island, entered into an agreement to be acquired by its largest stockholder, Standard General, in a $4.6 billion deal announced in July.
