Bally’s Lands Deal for Chicago site
Te US$1.7bn Bally’s Chicago project will feature 3,400 slots, 173 table games, 500-room hotel tower, entertainment venues and exhibition space.
Bally’s temporary facility is planned for an existing building at Medinah Temple, which would be retrofitted with 800 gaming positions and F&B offerings.
US OPERATOR NEWS
Bally’s Corporation has closed a transaction with one of Chicago’s leading real estate private equity firms, acquiring for $200m the approximately 30-acre Tribune Publishing Center site on which the US$1.7bn Bally’s Chicago project will be built.
Pursuant to the terms of the parties’ agreement, Bally’s entered into a ground lease with the Investor to lease back the land. Te ground lease includes an initial 99-year term, followed by 10 separate 20-year renewals at Bally’s option.
As part of the transaction, as specified construction milestones are completed, at Bally’s request, the investor will fund up to an additional $300m for Bally’s Chicago’s development through the ground lease structure. Te initial rental rate under the ground lease is calculated to yield the Investor an 8.5 per cent annual capitalisation rate, adjusting to a seven per cent annual capitalisation rate upon the receipt by Bally’s of certain development entitlements and gaming approvals. Te rent is also subject to periodic CPI increases.
Soo Kim, Chairman of the Board of Bally’s, said:
Station Casinos unveils plans for new Wildfire Casino
Nevada
Station Casinos unveils plans for its new Wildfire Casino location on Fremont. Te new casino destination, set to open in early February, will offer guests unrivaled gaming options, an STN Sports book, and food outlets IHOP and Tacos El Pastor.
In November, crews installed exterior signage on the building as it quickly takes shape in the rapidly growing downtown neighborhood.
Te all-new 21,000sq.ft casino will feature over 200 of the latest and most popular slot machines, plus bar-top gaming and electronic table games. In addition to a lively bar, Wildfire Casino will feature an STN Sportsbook for prime sports
“We are excited to be partnering with one of Chicago’s leading real estate private equity firm as we progress with building our $1.7bn flagship property in the Chicago market.
“We continue to demonstrate our commitment to delivering a world class entertainment facility that supports Chicago’s economy and community.”
Bobby Lavan, Chief Financial Officer of Bally’s, added: “Tis transaction is an important step in our development plan for Bally’s Chicago as we continue to work towards opening the temporary casino in mid-2023.
“With this new real estate partnership, Bally’s has ample liquidity on hand to fund Bally’s Chicago without needing to access the capital markets.”
Bally’s has the option to repurchase the land from the investor at a fixed capitalisation rate during years four through eight of the lease. In addition, if certain milestones are not achieved or Bally’s defaults under the lease, the Investor may require Bally’s to reacquire the land at a specified price.
viewing and will serve as a location for account activation, over-the-counter, and kiosk wagering. Along with a heightened gaming experience Wildfire will feature popular food offerings IHOP and local Mexican eatery Tacos El Pastor.
As with all Station Casinos properties around the valley, Wildfire will offer its guests convenient, always-free parking, friendly team members, and the connectivity of the Boarding Pass network.
“Tis Wildfire, just like all Wildfire properties, is going to be a great addition to the neighborhood, and everyone who walks through the doors will enjoy the friendly environment of this new neighborhood casino,” added Joel Hampe. General Manager and Vice President of Wildfire Gaming. “Tis Wildfire will offer our guests a new and elevated experience that they will love.”
Nevada
As part of its ongoing casino- wide transformation, Red Rock Casino, Resort & Spa unveiled an elegant new high limit slot room in the heart of the gaming floor adjacent to 8 Noodle Bar. With high-touch service, the new high limit slot room offers guests high-stakes bets on a curated mix of over 70 exciting slot machines and bar top games in a welcoming, intimate environment. Te room also features a dedicated cage and a curved bar at the end of the room with eight seats, gaming and friendly bartenders serving bespoke hand-crafted cocktails with a premium twist.
“From the ambience, games offered, and the impeccable service, we are looking forward to offering our guests, locals and visitors alike, a beautiful new high limit slot room,” remarked Scott Nelson, Vice President and General Manager of Red Rock Casino Resort & Spa.
US – Canadian operator ACE Casinos is due to open its ACE Airport Casino on November 25, featuring 638 slots, 26 table games, 12 VLT machines, two private VIP salons, 12 table poker room and arena- style gaming, as well as upscale restaurants.
The property will include the ACE Sports Bar featuring a 40ft TV wall. The newest casino property to be unveiled in Calgary offers over 800 parking stalls along with multiple food and beverage offerings providing guests with the experience of a neighbourhood pub to the high energy and excitement of a sports bar, plus a multi-purpose room for private and live entertainment events.
The new casino will create hundreds of new jobs and entertainment options for the City of Calgary.
The newest casino property to be unveiled in Calgary offers over 800 parking stalls along with multiple food and beverage offerings providing guests with the experience of a neighbourhood pub to the high energy and excitement of a sports bar, plus a multi-purpose room for private and live entertainment events.
As with all Alberta casinos, a dedicated AGLC GameSense Advisor is available to support players at ACE Airport Casino. The grand opening weekend will feature live entertainment and performances, food and beverage specials and over $10,000 in cash prize giveaways.
ACE Casinos announced their giveback program at the Ace Airport, Ace Casino Blackfoot and Cash Casino Red Deer where an employee led committee at each location selects local communities and charities to support.
US – TransAct Technologies has received orders for more than $10m from a global slot machine provider for TransAct’s Epic Edge casino printer. These orders, which is expected to be delivered over the first three quarters of 2023, represents an approximately 300 per cent increase in volume for this single customer over the same period in 2022.
“An order of this magnitude signals immense confidence in our products and our ability to deliver them in a timely fashion, which could not be more important in the Casino market today,” commented Bart C. Shuldman, CEO of TransAct Technologies.
“We continue to work at ramping our production in anticipation of increased demand, and orders like this serve to validate our actions. We are working hard to be able to deliver much needed printer product and look forward to working with new and existing customers to supply them with our industry leading printers.”
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