PROVIDENCE, R.I., April 7, 2021 /PRNewswire/ -- Bally's
Corporation (NYSE: BALY), a leading U.S. omnichannel provider of
land-based gaming and interactive entertainment, today announced
that it has completed the previously announced acquisition of
MontBleu Resort Casino & Spa ("MontBleu") from Caesars
Entertainment, Inc. (NASDAQ: CZR).
George Papanier, President and
Chief Executive Officer of Bally's
Corporation, said, "MontBleu is a premier entertainment asset that
is commensurate with the iconic Bally's brand, and advances our
ongoing portfolio diversification strategy. With the close of this
transaction, we look forward to integrating the property into the
Bally's family, and utilizing it
as an attractive destination for our loyal Bally's customers to drive visitation to
Lake Tahoe."
MontBleu is located in Stateline,
Nevada, which is situated minutes from Lake Tahoe offering spectacular views of the
Sierra Nevada mountains. The property features approximately 418
slots, 17 tables, 438 hotel rooms and approximately 14,000 square
feet of flexible convention, meeting & exhibition space.
About Bally's
Corporation
Bally's Corporation currently
owns and manages 12 casinos across eight states, a horse racetrack
and 13 authorized OTB licenses in Colorado. With more than 6,000 employees, the
Company's operations include 13,308 slot machines, 460 game tables
and 3,342 hotel rooms. Following the completion of pending
acquisitions, which include Tropicana Evansville (Evansville, IN) and Jumer's Casino & Hotel
(Rock Island, IL), as well as the
construction of a land-based casino near the Nittany Mall in
State College, PA, Bally's will own and manage 15 casinos across
11 states. Bally's also maintains
a multi-year market access partnership with Elite Casino Resorts
through which it will provide mobile sports betting in Iowa, as well as a temporary sports wagering
permit to conduct online sports betting in the Commonwealth of
Virginia. Its shares trade on the
New York Stock Exchange under the ticker symbol "BALY."
Cautionary Note Regarding Forward-Looking Statements
This document includes forward-looking statements within the
meaning of the securities laws. Forward-looking statements are
statements as to matters that are not historical facts, and include
statements about Bally's plans,
objectives, expectations and intentions.
Forward-looking statements are not guarantees and are subject to
risks and uncertainties. Forward-looking statements are based on
Bally's current expectations and
assumptions. Although Bally's
believes that its expectations and assumptions are reasonable at
this time, they should not be regarded as representations that
Bally's expectations will be
achieved. Actual results may vary materially. Forward-looking
statements speak only as of the time of this document and
Bally's does not undertake to
update or revise them as more information becomes available, except
as required by law.
Important factors beyond those that apply to most businesses,
some of which are beyond Bally's
control, that could cause actual results to differ materially from
our expectations and assumptions include, without limitation:
- uncertainties surrounding the COVID-19 pandemic, including
limitations on Bally's operations,
increased costs, changes in customer attitudes, impact on
Bally's employees and the ongoing
impact of COVID-19 on general economic conditions;
- unexpected costs, difficulties integrating and other events
impacting Bally's recently
completed and proposed acquisitions and Bally's ability to realize anticipated
benefits;
- risks associated with Bally's
rapid growth, including those affecting customer and employee
retention, integration and controls;
- risks associated with the impact of the digitalization of
gaming on Bally's casino
operations, Bally's expansion into
iGaming and sports betting and the highly competitive and rapidly
changing aspects of Bally's new
interactive businesses generally;
- the very substantial regulatory restrictions applicable to
Bally's, including costs of
compliance;
- restrictions and limitations in agreements governing
Bally's debt could significantly
affect Bally's ability to operate
our business and our liquidity; and
- other risks identified in Part I. Item 1A. "Risk Factors" of
Bally's Annual Report on Form 10–K
for the fiscal year ended December 31,
2019 as filed with SEC on March 13,
2020 and other filings with the SEC.
The foregoing list of important factors is not exclusive and
does not include matters like changes in general economic
conditions that affect substantially all gaming businesses.
You should not to place undue reliance on Bally's forward-looking statements.
Investor Contact
Steve Capp
Executive Vice President and Chief Financial Officer
401-475-8564
InvestorRelations@twinriver.com
Media Contact
Richard Goldman / David Gill
Kekst CNC
646-847-6102 / 917-842-5384
BallysMediaInquiries@kekstcnc.com
View original content to download
multimedia:http://www.prnewswire.com/news-releases/ballys-corporation-completes-acquisition-of-montbleu-resort-casino--spa-301263768.html
SOURCE Bally's Corporation