Bally's Launches "Bally's For RVA" Campaign To Create Awareness Of Its Proposed $650 Million Casino And Resort For The RVA Community
Bally's Corporation (NYSE: BALY) announced the launch of its 'Bally's For RVA' campaign aiming to promote the proposed $650 million Bally's Richmond Casino Resort. The facility is projected to deliver significant economic benefits, including a $100 million upfront payment to Richmond, creating over 2,000 permanent jobs, and generating $5.3 billion in economic value over ten years. The campaign coincides with a voter referendum scheduled for November 2, 2021, intended to bolster local awareness and support for the project.
- $650 million investment in Richmond Casino Resort.
- $100 million upfront payment to the City of Richmond.
- Creation of over 2,000 permanent jobs and 4,300 construction jobs.
- Projected $5.3 billion economic value over 10 years.
- Expected annual attendance of 3.7 million visitors.
- Risks associated with upcoming voter referendum on November 2, 2021.
- Economic uncertainties potentially affecting project execution.
PROVIDENCE, R.I., March 9, 2021 /PRNewswire/ -- Bally's Corporation (NYSE: BALY), a leading U.S. omnichannel provider of land-based gaming and interactive entertainment, today launched its "Bally's For RVA" campaign to create awareness of the "Bally's Richmond Casino Resort" — a
CLICK HERE TO VIEW A BALLY'S RICHMOND VIDEO PRESENTATION
The Bally's Richmond campaign, which adopted "Bally's For RVA" as its slogan and #BallysForRVA, seeks to inform Richmond's constituents of the project's unique and incomparable components that will support RVA's growth and development, including:
- a
$100 million upfront payment to the City of Richmond; - 4,300 construction jobs and more than 2,000 permanent jobs upon completing the project;
- 3.7 million visitors expected annually;
$5.3 billion in economic value generated over a 10-year period; and$30 million in annual economic activity and spending, plus an additional 289 jobs created through Bally's innovative "Richmond Rewards" program.
George Papanier, President and Chief Executive Officer of Bally's Corp., said, "We have deep conviction in our commitment to Richmond, which is why we chose the slogan 'Bally's For RVA' to guide our campaign. Our community-first policy is a fundamental element of who we are as a company. Within each locality where we operate, we build strong, lasting partnerships with residents and businesses.
Additionally, through Bally's partnerships with the Lanier Family, Warren Thompson of Thompson Hospitality, and other minority supplier organizations such as the Carolinas-Virginia Minority Supplier Development Council and the Virginia Asian Chamber of Commerce, Bally's will:
- Partner with historically Black colleges and universities to provide education and training opportunities, internship programs and prospects for long-term employment;
- Promote careers within the hospitality industry, providing a rotational management training program, job-shadowing workshops and opportunities to local students and individuals;
- Sponsor its minority investor partners' work and local charitable organizations;
- Leverage its 15+ million player database and the Bally's Richmond state-of-the-art visitor center to drive traffic to the greater Richmond area, transforming it into a tourism hub; and
- Work with the City and local organizations to ensure residents and business owners have a voice in the project and the future opportunities that it will create.
Willie Lanier, Sr., NFL Hall of Famer, said, "It is our hope that, through this campaign, Richmonders will gain a greater understanding of how the Bally's Richmond Casino Resort will contribute significantly to the greater Richmond community."
Bally's encourages residents, business owners and leaders within the City of Richmond to visit BallysRichmond.com for more information and to follow the campaign on Twitter, LinkedIn, Facebook, Instagram and YouTube.
Marc Crisafulli, Executive Vice President Strategy and Operations of Bally's Corp., said, "We are in it to win it. We hope that the residents and small business owners of the City of Richmond appreciate how much we want to partner with them on this exciting adventure. We want to be woven into the fabric of this great community. We are for RVA."
The media campaign will also focus on and promote additional attractive qualities of Bally's proposal, including a:
- Strategically-situated site located at the intersection of the Powhite and Chippenham Parkways on the western border of the City;
- 4-star, 250-key hotel that will increase the desirability for MICE (meeting, incentive, convention, exhibition) activities in Richmond;
- 117,500 square foot casino featuring an elevated design consisting of the most current gaming components, including 2,500 slot machines, 90 table games, 30 poker tables, a High Limit Gaming area and a VIP lounge;
- 45,000 square foot, multi-use event center with 3,000 high-quality seats, a permanent stage and a state-of-the-art sound system that will attract musical acts of all genres to Richmond and will also be available for art exhibitions, sports events and other performances;
- Indoor/outdoor pool;
- 16,000 square foot multi-dimensional spa, salon and health club;
- 13 distinct food and beverage options featuring locally sourced vendors;
- 3,000-spot environmentally responsible parking facility that will accommodate the 3.7 million visitors expected annually and provide preferred parking for green vehicles and
- Visitor center offering a full range of services that will help guests access local Richmond sites, museums and other attractions throughout the City.
About Bally's Corporation
Bally's Corporation currently owns and manages 11 casinos across seven states, a horse racetrack and 13 authorized OTB licenses in Colorado. With more than 5,900 employees, the Company's operations include 13,260 slot machines, 459 game tables and 2,941 hotel rooms. Following the completion of pending acquisitions, which include Tropicana Evansville (Evansville, IN), Jumer's Casino & Hotel (Rock Island, IL), and MontBleu Resort Casino & Spa (Lake Tahoe, NV), 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 provides mobile sports betting in Iowa. 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
Julia Brewster
Commonwealth PR
804-432-7733
julia@commonwealth-pr.com
Richard Goldman / David Gill
Kekst CNC
646-847-6102 / 917-842-5384
BallysMediaInquiries@kekstcnc.com
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SOURCE Bally's Corporation
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