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By: Daniel

Daniel — Mon, 15 Apr 2024 18:34:10 +0000

Bally’s is hoping for better luck in Petersburg than they had three years ago when Bally’s was eliminated from consideration for their planned $650 million Bally’s casino resort in Richmond, Virginia. Bally’s was not pleased with that decision as reflected in this statement quoted from a casino-industry news article on April 21, 2021. “Despite the lack of public support, Bally’s still wasn’t expecting the result. Its President and CEO, George Papanier, said that the company was “disappointed and surprised” by the decision. He added that the company is “deeply committed” to the project and that it was willing to provide “the largest financial package” to the city. It won’t be able to dispute the decision, but Papanier added that Bally’s isn’t going to hold a grudge.” Who would approve their future financing plan to build a “world-class” Bally’s casino in Petersburg, VA? How about the same question regarding their financing plan for the permanent Bally’s Chicago flagship casino resort hotel in the Windy City? Will Bally’s be disappointed and surprised again? Let’s watch closely — but don’t be surprised at the decision!

By: Andrew

Andrew — Wed, 03 Apr 2024 19:25:18 +0000

The gambling industry is consolidating and Bally’s was late to the game. Bally’s leadership knows that the weaker players like themselves will eventually be forced out of the market, so they are desparate to expand at all costs. Their reckless efforts to expand into third-tier markets like State College and Petersburg when they are already overextended in Chicago, New York, and Las Vegas will only further dissipate the company’s already over-extended resources. This company is circling the drain… if I was an investor in Bally’s, I would start looking for ways to cut my losses….

By: Susan

Susan — Wed, 03 Apr 2024 13:34:38 +0000

Unbelievable that a casino is proposed to be built within 4 miles of this major university campus — and this despite overwhelming public outcry against the proposal. Bally’s credit rating is slipping — maybe the casino-based gambling industry is not as profitable as it used to be. Hopefully the profitability will continue to decline and Bally’s can stop trying to ruin neighborhoods, small town communities, and university campuses by putting up casinos. If the casino is indeed built in the dying, leaky-roofed Nittany Mall–a 4-mile straight shot from the University Park campus, it will likely and hopefully not succeed. Not a great bet by a corporation that makes its fortune on gambling.

By: D.J.

D.J. — Wed, 03 Apr 2024 03:29:09 +0000

Bally’s website mentions just two future Bally’s brick-and-mortar casinos. Nothing is mentioned about Petersburg. They proudly mention Bally’s Chicago and the first land-based Bally’s casino in Pennsylvania planned for inside the nearly vacant Nittany Mall in State College, PA. The estimated cost of that planned Pennsylvania casino is $120 million. The State College casino is rarely mentioned when Bally’s future financial commitments are described in any news article, so thank you Devin for including it today! The construction of the Bally’s Pennsylvania casino might be a bit easier since the casino location is INSIDE a former Macy’s department store. But wait! Legal wranglings over this Bally’s project began in July 2021. The decision to approve or deny the actual ISSUANCE of that Bally’s Pennsylvania casino license awaits a decision by the Pennsylvania Supreme Court at a date yet undetermined. The legal battle involves a lawsuit filed against the winning bidder by the non-winning bidder. At this point, some analysts remain doubtful if Bally’s can find financing for that $120 million casino in a mall just four miles from the main campus of Penn State. Seems like a lot to spend just to put a small Bally’s casino into an old Macy’s store. Bally’s should recalibrate that decision and remember that today’s college students mostly enjoy betting on sports via their smartphones. They don’t look for slot machines and hope to hit elusive jackpots to brag about to their classmates. Their peer group pals would literally roll their eyes about that unlikely dream if it was mentioned out loud. Those same students’ meager discretionary spending dollars would not last for 10 minutes with current casino table game minimums. Then it’s time to call Mom or Dad again. Does this planned $120M casino in State College look like a wise business decision by the small inner circle of Bally’s decision-makers? Not even close!