Bally’s Corporation has taken steps towards its proposed initial public offering (IPO) of ownership interests in Bally’s Chicago, a planned resort and casino in the City of Chicago. The company has confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC). These ownership interests would be offered exclusively to qualified residents of Chicago who meet certain requirements outlined in their Host Community Agreement with Bally’s.
The website for Bally’s states that 25% stake will be available for purchase by “philanthropists, business owners, sports stars, celebrities and everyday people from Black and Latino communities as well as other ethnicities or genders”. However, no further details have been released regarding how many shares are being offered or what price range they may fall into at this time; these specifics are expected to become available after the SEC completes its review process – subject to market conditions – according to an announcement made by Bally’s Corporation itself.
