Bali’s acquisition of Atlantic City completed

Bally’s Corporation today announced the completion of its previously announced acquisition of Bally’s – Atlantic City Hotel & Casino from Caesars Entertainment, Inc. and Vici Properties, Inc. The acquisitions totaled $25 million, adjusted according to convention and financed with cash on hand.

“We strongly believe in the potential of the Atlantic City market and are confident that we can return Bali’s to its former glory,” said George Papanier, president and chief executive officer of Bali. “We are pleased to close this deal, which represents the most recent addition to our ongoing portfolio diversification strategy, and look forward to implementing our capital improvement plan to fully revamp our properties with top-notch amenities and offerings. We have a proven track record of implementing strategic initiatives in properties acquired to drive growth and revenue improvements, and we plan to take this iconic property to levels not seen in years.”

As part of the deal, Bally’s is offered three sports bets and five iGaming skins in New Jersey. As previously announced, the Company has entered into strategic partnerships with Esports Entertainment Group and Sportstrade Inc. for Sports Betting Skins, and PointsBet and the Score for iGaming Skins, which offer unique benefits in the state-of-the-art New Jersey sports betting and iGaming markets, allowing the Company to book its own skins for use. The company has also signed a deal with FanDuel to host a sportsbook within the upcoming Bali’s Atlantic City. The company expects these partnerships to contribute to revenue.

Located in Atlantic City, New Jersey, Valley’s Atlantic City stands out in the heart of the Atlantic City Boardwalk. The iconic building contains 1,500 slots, 105 tables and 1,251 hotel rooms.


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