**Bally’s Corporation Completes IPO for Chicago Casino Project**
Bally’s Corporation has successfully completed its initial public offering for its Chicago casino project, raising approximately $250 million. The offering was part of Bally’s Community Investment Program, which was designed to give non-accredited local residents the opportunity to invest directly in the Bally’s Chicago casino and resort, thereby gaining an ownership stake in the development.
According to the Rhode Island-based gaming company, the IPO garnered participation from nearly 1,800 unique shareholders. Among them were 1,007 residents from Chicago and 1,573 shareholders from across Illinois. “As a result, nearly 1,800 unique shareholders, including 1,007 Chicagoans and 1,573 Illinois-based shareholders, are now partners of the project, going a long way to fulfilling our commitment to the City of Chicago,” the company said in an official statement.
The offering, which included shares across four different stock classes, was managed by Loop Capital Markets. Bally’s initially launched the share offering in December, with early rounds limited to women and minority investors in line with their community host agreement with the City of Chicago.
Company officials noted that this IPO marks the first in a planned series of investment offerings aimed at promoting local and diverse participation in the development of the Chicago casino and resort.
The Bally’s Chicago casino project continues to move forward as one of the city’s key economic development ventures.
