Investment will advance higher education and provide significant economic opportunities for Rhode Island's workforce
Partnership will develop unique gaming, hospitality, and security-focused academic program with on-campus learning labs, and offer on-site training opportunities
Donation marks the largest gift in CCRI history, ranking among top donations to community colleges nationally this year
PROVIDENCE, R.I., Sept. 14, 2023 /PRNewswire/ -- Bally's Corporation (NYSE: BALY) today announced a $5 million donation to the Community College of Rhode Island (CCRI) Foundation as part of its long-term partnership. This gift, which marks the largest in the Foundation's nearly 45-year history and doubles the size of CCRI's endowment, will increase pathways to higher education and provide economic opportunities for students interested in pursuing a career in the casino and gaming industries, as well as Bally's employees looking to advance their skillsets.
The partnership was formally announced earlier today during an event hosted on CCRI's Flanagan Campus. Governor Daniel McKee, Senate President Dominick Ruggerio, House Majority Leader Chris Blazejewski, Bally's Chairman Soo Kim, CCRI Interim President Dr. Rosemary A. Costigan, Ph.D., R.N., and former CCRI President Dr. Meghan Hughes were in attendance, among other distinguished guests.
Mr. Kim said, "It is an honor to partner with CCRI on such an exciting and important initiative. We are proud to play an integral part in offering higher education opportunities for Rhode Island's workforce, creating new jobs, and driving economic development. Rhode Island is our home, and continued investment in its local communities and workforces will always be a top priority for us. While this donation is the latest milestone in our long-term partnership with CCRI, we look forward to supporting this program for many years to come, creating a legacy of economic opportunity."
Governor McKee said, "This landmark partnership between Bally's and CCRI will provide important learning and training for our CCRI students, leading to new workforce opportunities. The generous gift provided by one Rhode Island-based company for the benefit of so many of our state's community college students is a powerful way to advance economic and social opportunity and teach meaningful, transferable workforce skills. I applaud Bally's for investing in our state's higher education system and our students."
As a result of this investment, CCRI will become the only higher education institution in Rhode Island, and one of a few higher education institutions in New England, to offer students the opportunity to obtain a certificate or associate degree based on a comprehensive gaming-focused curriculum. The program will include traditional classroom learning, online courses, on-campus learning labs, and opportunities to work at a Bally's property, and consists of casino, hospitality, and hotel management-specific courses such as dealer training, casino operations, cybersecurity, iGaming operations, culinary arts, hotel management, and slot technology.
CCRI will initially focus on working with faculty and staff to build out the course curriculum with a goal of having degree programs available by Fall 2024. Simultaneously, the college's Division of Workforce Partnerships will quickly develop and launch short-term credentials to upskill Bally's existing workforce and create a talent pipeline of new employees.
Dr. Costigan said, "This remarkable gift recognizes the College's track record in expanding new programs and degree pathways for students. The initiative, developed in partnership with the Bally's and CCRI teams, will provide CCRI students with new opportunities to learn and work as the best version of themselves. Our partnership brings attention to the unparalleled value of community colleges and their powerful role in the region's economy, and I am grateful for Bally's belief in us and our incredible students."
CCRI, the largest public institution of higher education in the state, educates nearly 20,000 students each year. Notably, the school is designated a Hispanic-Serving Institution by the United States Department of Education and serves more low-income students and students of color than any other higher education institution in the state.
Dr. Hughes, under whose tenure the relationship between the college and Bally's developed, said, "Bally's $5 million contribution to the CCRI Foundation marks an extraordinary moment in the college's history. This partnership between CCRI and Bally's stands as a testament to the transformative power of education and industry collaboration. Through this initiative, we are investing in community college students and their future success."
In addition to new certificate and degree program development, Bally's investment will provide scholarships to qualifying Rhode Islanders seeking a career in the growing gaming and hospitality industries, reflecting the Company's continued commitment to creating opportunities for economic growth and development in the communities it serves. Additional details on this program, including scholarship opportunities, will be forthcoming.
About Bally's Corporation
Bally's Corporation is a global casino-entertainment company with a growing omni-channel presence of Online Sports Betting and iGaming offerings. It currently owns and manages 15 casinos across 10 states and a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, formerly Gamesys Group, a leading, global, online gaming operator, Bally Bet, a first-in-class sports betting platform, and Bally Casino, a growing iCasino platform.
With 10,500 employees, Bally's casino operations include approximately 15,000 slot machines, 600 table games and 5,300 hotel rooms. Upon completing the construction of a permanent casino facility in Chicago, IL, and a land-based casino near the Nittany Mall in State College, PA, Bally's will own and/or manage 17 casinos across 11 states. Its shares trade on the New York Stock Exchange under the ticker symbol "BALY".
About CCRI
The Community College of Rhode Island, the state's largest public institution of higher education, enrolls nearly 40,000 Rhode Islanders annually across its academic certificate and degree programs, workforce training programs, adult education, and driver education programs. With a passionate commitment to student success and closing equity gaps, CCRI provides Rhode Islanders with an outstanding college education that leads to strong learning outcomes, successful degree attainment, seamless transfer opportunities, and robust labor market outcomes.
With four campuses across Rhode Island, CCRI offers online, hybrid, and in-person options for students, meeting them where they are and helping them achieve their educational and career goals. CCRI was designated a Hispanic Serving Institution in 2023 and named the 2019 Two-Year College of the Year by Education Dive magazine.
About CCRI Foundation
The CCRI Foundation secures philanthropic support through dynamic campaigns and public awareness for the CCRI and to help CCRI students achieve their academic and professional goals through scholarships, book awards, and emergency funding. Today, philanthropic partners are critical to the growing community that make up 20,000 enrolled students and more than 80,000 alumni. The CCRI Foundation was the first-time community college foundation winner of the John W. Nason Award for Board Leadership in 2022, presented by the national Association of Governing Boards of Universities and Colleges (AGB), the premier organization representing higher education governing boards.
Bally's Contacts
Investor:
Jeff Chalson
Vice President of Corporate Development & Strategy
401-475-8564
InvestorRelations@ballys.com
Media:
Kekst CNC
646-847-6102
BallysMediaInquiries@kekstcnc.com
CCRI Contact
Amy Kempe
Director, Marketing & Communications
401-825-2028
apkempe@ccri.edu
CCRI Foundation Contact
Bobby Gondola, Jr., Ph.D.
Executive Director
bgondola@ccri.edu
401-429-8105
BALY-CAS
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SOURCE Bally's Corporation
