Bally's Chicago Comes to Project Labor Agreement

Rhea-AI Summary

Bally's Corporation (NYSE: BALY) has signed a Multi-Project Labor Agreement with the Chicago & Cook County Building & Construction Trades Council for its new casino in Chicago. This agreement emphasizes the company's commitment to creating good-paying jobs and reflects the diversity of the community. The $1.7 billion Bally's Chicago will feature 3,400 slots, 170 table games, a 500-room hotel, and a major entertainment center. The project aims to drive economic growth in the city while providing Bally's with the right to operate a temporary casino during construction.

Positive

• Secured Multi-Project Labor Agreement with local unions, enhancing community relations.
• Bally's Chicago project valued at $1.7 billion, indicating strong investment potential.
• Future casino to create significant job opportunities in Chicago, supporting local economy.

Negative

• None.

Casino fulfills promises of partnerships with labor

CHICAGO, Oct. 17, 2022 /PRNewswire/ -- Bally's Corporation (NYSE: BALY) today announced that it has signed a Multi-Project Labor Agreement (PLA) with the Chicago & Cook County Building & Construction Trades Council (CCBT) and the AFL-CIO Building and Construction Trades Department as it relates to construction of its flagship Bally's Chicago casino.

"BCTC is proud to stand with Bally's Chicago in this historic building of the first and only casino in the City of Chicago," said CCBT President Michael Macellaio. "With this agreement, Bally's shows that it understands the importance of good-paying jobs in our city and the dignity of our hard-working people."

"At Bally's, we believe our company should reflect the community. This PLA is a demonstration of our commitment to embrace organized labor that has played such a key role in building the great city of Chicago," said Bally's Chairman Soo Kim. "This is the first step of a project that will be built by Chicago, for Chicago, and help the city keep its promises to the police and fire pensions."

"We are also committed to inclusivity and our partnerships with the CCBT, Chicago Federation of Labor, and Hire360 will ensure our workforce will reflect the rich diversity of the city," said Kim.

"We appreciate that Bally's holds itself to a higher standard when it comes to employment," said Bob Reiter, President of the Chicago Federation of Labor. "Our mission is to strengthen the participation of underrepresented populations—with a special focus on engaging youth to consider the trades as a viable and inspiring career path—and Bally's has proven to take that very seriously."

About Bally's Chicago

Bally's Chicago is a $1.7 billion destination casino, entertainment and hotel offering that will showcase "The Best of Chicago" arts and culture, food and sports, and curated dining and entertainment experiences. Located on the 30-acre Chicago Tribune Publishing Center at the intersection of Chicago Avenue and Halstead Street, Bally's Chicago will transform this currently underutilized site into a major economic driver for the city.

Among other features and amenities, Bally's Chicago will include 3,400 slots, 170 table games, 10 food and beverage venues, a 500-room hotel tower with rooftop bar, a 3,000 seat / 65,000 square foot entertainment center, a 20,000 square foot exhibition, outdoor music venue, and outdoor green space including an expansive public riverwalk with a water taxi stop. The project also provides Bally's with the exclusive right to operate a temporary casino for up to three years while the permanent casino resort is constructed.

For more information on Bally's Chicago, visit www.ballyschicago.com.

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, 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, the Company's casino operations include approximately 15,000 slot machines, 500 table games and 5,300 hotel rooms. Upon completing the construction of a temporary casino facility in Chicago, IL and a land-based casino near the Nittany Mall in State College, PA, Bally's will own and manage 17 casinos across 11 states. Its shares trade on the New York Stock Exchange under the ticker symbol "BALY".

Investor Contact
Robert Lavan
Chief Financial Officer
401-475-8564
InvestorRelations@ballys.com

Media Contact
Richard Goldman
Kekst CNC
646-847-6102
BallysMediaInquiries@kekstcnc.com 

BALY-CAS

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SOURCE Bally's Corporation

FAQ

What is the significance of the Multi-Project Labor Agreement signed by Bally's Corporation?

The Multi-Project Labor Agreement emphasizes Bally's commitment to creating jobs and supporting local labor in Chicago, enhancing community relations.

What are the key features of the Bally's Chicago casino project?

The Bally's Chicago project will feature 3,400 slots, 170 table games, a 500-room hotel, and a large entertainment center, with a total investment of $1.7 billion.

How will Bally's Chicago impact the local economy?

The casino is expected to drive economic growth by creating numerous job opportunities and serving as a major entertainment destination in the city.

What is the expected timeline for Bally's Chicago casino construction?

Bally's has the exclusive right to operate a temporary casino for up to three years while the permanent casino is being constructed.