Struggling temporary casino at Bally's scraps race-based employment demands
The Securities and Exchange Commission (SEC) did not issue a guidance to Bally's, a gaming corporation, leaving the company to operate its temporary casino in Chicago without explicit regulatory advice. This temporary casino has reported losses exceeding $130 million since its opening.
The newly unveiled plan for Bally's Chicago operations appears to favor residents of Chicago and Illinois, raising concerns about its equitable allocation towards minorities.
Bally's, a multinational corporation, has been grappling with financial challenges, particularly in its Casinos & Resorts segment. Though the segment saw a 2.6% increase in revenue year-over-year, the International Interactive segment witnessed a decline of 18.3% in revenue.
Set against this backdrop, Bally's temporary casino in Chicago has faced challenges, including unresolved regulatory issues and operational adjustments in the facility. These issues have contributed to the temporary casino's significant losses since its inception.
Grant Mitchell, a football enthusiast and sports bettor, provides insightful and up-to-date coverage of the sports betting industry. As a former graduate of Virginia Tech and NCAA track and field athlete, he brings a unique perspective to his reporting. He joined the professional ranks in 2021 and has since collaborated with esteemed entities such as Forbes and VSiN.
In this particular report, Mitchell does not provide specific details about Bally's temporary casino in Chicago. However, ongoing challenges and financial difficulties faced by the company mark a significant part of the broader gaming industry narrative.
[1] Bally's Corporation 2025 Q1 Earnings Release, accessed April 28, 2025, https://secure-static.chartbeat.com/rv/docs/0/22/224777/Ballys-Corporation-Q1-2025-Earnings-Release.pdf[2] Yahoo Finance, Bally's Corporation (BALY), accessed April 28, 2025, https://finance.yahoo.com/quote/BALY/overview[3] Business Wire, Bally's Segment Report - Q1 2025, accessed April 28, 2025, https://www.businesswire.com/news/home/20250428005416/en/Ballys-Segment-Report--Q1-2025[4] Globe Newswire, Bally's Corporation Reports First Quarter 2025 Financial Results, accessed April 28, 2025, https://www.globenewswire.com/news-release/2025/04/28/2624155/0/en/Ballys-Corporation-Reports-First-Quarter-2025-Financial-Results.html[5] Nasdaq, Bally's Corporate Financial Report, accessed April 28, 2025, https://www.nasdaq.com/market-activity/stocks/bally/financial-report/2025-q1
In the unsettled gaming industry, Bally's Corporation's financial struggles, including the loss-making temporary casino in Chicago, remain a growing concern. Despite a meager 2.6% revenue increase in the Casinos & Resorts segment, the International Interactive segment plummeted by 18.3% in revenue.
Grant Mitchell, a sports betting aficionado, offers insightful industry coverage, giving an unique perspective due to his background as a Virginia Tech graduate and NCAA track and field athlete.
Though Mitchell's latest report does not specifically address Bally's Chicago casino, it highlights the broad difficulties faced by gaming companies like Bally's, with potentially declining revenue streams from online casino-games such as blackjack, sports betting, and even progressive jackpot games.
The ongoing challenges at Bally's temporary casino, already undermined by regulatory ambiguity and operational setbacks, echo the tumultuous landscape of the casino-and-gambling world, where even the allure of a jackpot may not prove sufficient to turn the tides for the embattled corporation.
