Minority-only IPO didn’t close as expected Casino operator plans to try again even as legal challenges linger Bally’s (NYSE: BALY.T) planned $250 million Chicago initial public offering (IPO), reserved exclusively for minority investors, didn’t close as expected in February after the Securities and Exchange Commission (SEC) failed to declare the offering effective. Bally’s temporary Chicago casino at Medinah Temple. The SEC didn’t approve a plan by the operator to sell shares in its permanent casino in the city. (Image: Axios Chicago) In May 2023, the regional casino operator confidentially filed a Form S-1 with the SEC for the IPO, which would have contributed to funding for the Chicago casino hotel — the company’s most expensive project to date. The offering relates to the Host Community Agreement reached between the gaming company and the city, and provides for stakes in the integrated resort to be sold to select Chicagoans. The SEC didn’t respond to the filing, and it’s not apparent why.… Read More
Category: Commercial Gaming, Financial, Midwest, Regional News, Regulation, commercial gaming, regional news, regulation
Source: Casino.org
