Bally's Corporation Embarks On Listening Tour For Richmond Casino Selection Process

Rhea-AI Summary

Bally's Corporation (NYSE: BALY) has launched a listening tour in Richmond, VA, aimed at engaging the local community regarding the $650 million Bally's Richmond Casino Resort project. Scheduled events will occur on April 13 and 14, 2021, to address community concerns and gather input from residents and business owners. Michael Monty, Senior Project Manager, emphasized the importance of community involvement, while local activist Jonathan Davis expressed support for the effort. The initiative underscores Bally's commitment to aligning the casino project with Richmonders' interests.

Positive

• Engagement with local residents to gather feedback on the casino project.
• Partnership with community activist to enhance local involvement.
• Proactive steps taken to address community concerns before final decision.

Negative

• None.

PROVIDENCE, R.I., April 12, 2021 /PRNewswire/ -- Bally's Corporation (NYSE: BALY), the proposed developer and operator of the $650 million "Bally's Richmond Casino Resort," and finalist in the City's casino selection process, today announced that it will proactively embark upon a listening tour consisting of a series of in-person conversations and meetings. The objective of the tour is to provide Bally's, and Richmond residents and local business owners spanning all nine districts, with opportunities to engage with Bally's, and address important issues regarding the casino selection process, to ensure that Richmonders' interests and values are best served. Jonathan Davis, an African American Community Activist in Richmond, is partnering with Bally's in the planning and implementation of the listening tour.

The listening tour will consist of three events taking place on the following dates at each respective time and location:

• Tuesday, April 13^th, 6:30pm ET at Bryan Park (4308 Hermitage Road, Richmond, VA);
• Wednesday, April 14^th, 1:00pm ET at Battery Park (2803 Dupont Circle, Richmond, VA); and
• Wednesday, April 14^th, 6:30pm ET at Chimborazo Park (3215 E Broad St, Richmond, VA).

Michael Monty, Senior Project Manager of the Bally's Richmond, commented, "As we've said from the start, a key component of our proposal is partnering with the City of Richmond. A critical part of building that partnership consists of listening to the community and its stakeholders. We want to hear Richmonders' thoughts, ideas and concerns so that we can best represent their interests and values. We look forward to this opportunity to engage with the community so that Bally's is best positioned to put Richmond first."

"It is great to see that Bally's is taking steps to ensure that Richmonders' voices are heard as we move forward in the casino selection process," said Jonathan Davis, "I'm excited to be working with them to help Richmonders better understand this process and help them stay involved as things progress."

For information regarding Bally's Richmond, please visit BallysRichmond.com and follow the #BallysForRVA social media campaign on Twitter, LinkedIn, Facebook, Instagram and YouTube.

About Bally's Corporation

Bally's Corporation currently owns and manages 12 casinos across eight states, a horse racetrack and 13 authorized OTB licenses in Colorado. With more than 6,000 employees, the Company's operations include 13,308 slot machines, 460 game tables and 3,342 hotel rooms. Following the completion of pending acquisitions, which include Tropicana Evansville (Evansville, IN) and Jumer's Casino & Hotel (Rock Island, IL), as well as the construction of a land-based casino near the Nittany Mall in State College, PA, Bally's will own and manage 15 casinos across 11 states. Bally's also maintains a multi-year market access partnership with Elite Casino Resorts through which it will provide mobile sports betting in Iowa, as well as a temporary sports wagering permit to conduct online sports betting in the Commonwealth of Virginia. Its shares trade on the New York Stock Exchange under the ticker symbol "BALY."

Cautionary Note Regarding Forward-Looking Statements

This document includes forward-looking statements within the meaning of the securities laws. Forward-looking statements are statements as to matters that are not historical facts, and include statements about Bally's plans, objectives, expectations and intentions.

Forward-looking statements are not guarantees and are subject to risks and uncertainties. Forward-looking statements are based on Bally's current expectations and assumptions. Although Bally's believes that its expectations and assumptions are reasonable at this time, they should not be regarded as representations that Bally's expectations will be achieved. Actual results may vary materially. Forward-looking statements speak only as of the time of this document and Bally's does not undertake to update or revise them as more information becomes available, except as required by law.

Important factors beyond those that apply to most businesses, some of which are beyond Bally's control, that could cause actual results to differ materially from our expectations and assumptions include, without limitation:

• uncertainties surrounding the COVID-19 pandemic, including limitations on Bally's operations, increased costs, changes in customer attitudes, impact on Bally's employees and the ongoing impact of COVID-19 on general economic conditions;
• unexpected costs, difficulties integrating and other events impacting Bally's recently completed and proposed acquisitions and Bally's ability to realize anticipated benefits;
• risks associated with Bally's rapid growth, including those affecting customer and employee retention, integration and controls;
• risks associated with the impact of the digitalization of gaming on Bally's casino operations, Bally's expansion into iGaming and sports betting and the highly competitive and rapidly changing aspects of Bally's new interactive businesses generally;
• the very substantial regulatory restrictions applicable to Bally's, including costs of compliance;
• restrictions and limitations in agreements governing Bally's debt could significantly affect Bally's ability to operate our business and our liquidity; and
• other risks identified in Part I. Item 1A. "Risk Factors" of Bally's Annual Report on Form 10–K for the fiscal year ended December 31, 2019 as filed with SEC on March 13, 2020 and other filings with the SEC.

The foregoing list of important factors is not exclusive and does not include matters like changes in general economic conditions that affect substantially all gaming businesses.

You should not to place undue reliance on Bally's forward-looking statements.

Investor Contact

Steve Capp
Executive Vice President and Chief Financial Officer
401-475-8564
InvestorRelations@twinriver.com 

Media Contact

Richard Goldman / David Gill
Kekst CNC
646-847-6102 / 917-842-5384
BallysMediaInquiries@kekstcnc.com

 

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SOURCE Bally's Corporation

FAQ

What is the purpose of Bally's listening tour in Richmond?

The listening tour aims to engage Richmond residents and local business owners, addressing their concerns and gathering input regarding the Bally's Richmond Casino Resort project.

When are the events for Bally's listening tour scheduled?

The listening tour events are scheduled for April 13 at Bryan Park and April 14 at Battery Park and Chimborazo Park.

Who is partnering with Bally's for the listening tour?

Community activist Jonathan Davis is partnering with Bally's to help plan and implement the listening tour.

How much is the proposed Bally's Richmond Casino Resort project?

The proposed Bally's Richmond Casino Resort project is valued at $650 million.

What is the stock symbol for Bally's Corporation?

The stock symbol for Bally's Corporation is BALY.