https://www.abouttanzanitejewelry.com/news/chicago-pension-mess-highlights-need-for-ballys-casino/ Latest Casino and Gaming News Sat, 03 Aug 2024 18:17:41 +0000 hourly 1 https://wordpress.org/?v=6.4.5 https://www.abouttanzanitejewelry.com/news/chicago-pension-mess-highlights-need-for-ballys-casino/#comment-380252 Sat, 03 Aug 2024 18:17:41 +0000 https://www.abouttanzanitejewelry.com/news/?p=324280#comment-380252 What is not mentioned in the article is that Ballys should’ve never been awarded the Chicago license in the 1st place when they didn’t have the money to build it. All these stall tactics they are using is just to hide the fact that they are not in a position to build this casino on their own and are now looking for alternative partners/financing. None of that was in their original licensing bid, this is classic bait and switch. Something is really dirty here.

]]> https://www.abouttanzanitejewelry.com/news/chicago-pension-mess-highlights-need-for-ballys-casino/#comment-376921 Thu, 04 Jul 2024 12:47:10 +0000 https://www.abouttanzanitejewelry.com/news/?p=324280#comment-376921 The top story headlines in both the Chicago Tribune and the Chicago Sun-Times should soon be, “Bally’s Struggles Sound Alarm Bells for Chicago Pensions.”

]]> https://www.abouttanzanitejewelry.com/news/chicago-pension-mess-highlights-need-for-ballys-casino/#comment-376920 Thu, 04 Jul 2024 12:43:19 +0000 https://www.abouttanzanitejewelry.com/news/?p=324280#comment-376920 I thought Bally’s Chairman of the Board, Soo Kim, hoped to take Bally’s private by offering a takeover bid of $15 per share. Bally’s stock cannot even reach the $12 mark anymore. The pension fund focus needs to factor in every word of that.

]]> https://www.abouttanzanitejewelry.com/news/chicago-pension-mess-highlights-need-for-ballys-casino/#comment-376775 Wed, 03 Jul 2024 02:48:37 +0000 https://www.abouttanzanitejewelry.com/news/?p=324280#comment-376775 Mike Pence actually had a more realistic chance of winning the 2024 Presidential election than Bally’s now has in their hope to build a successful casino anywhere. Strong emphasis here on the word “ANYWHERE.”

]]> https://www.abouttanzanitejewelry.com/news/chicago-pension-mess-highlights-need-for-ballys-casino/#comment-376774 Wed, 03 Jul 2024 02:44:51 +0000 https://www.abouttanzanitejewelry.com/news/?p=324280#comment-376774 Since January 1st, Bally’s stock price consistently struggles to rise above the $12.00 mark. That’s a pretty low bar! Where’s the investor confidence about Bally’s Chicago? Cramer reminds us, “The very best thing about falling stock prices is that they have to stop at zero.” How can Bally’s possibly hope to start building their permanent casino in Chicago when they already are struggling to even get the required permits?

]]> https://www.abouttanzanitejewelry.com/news/chicago-pension-mess-highlights-need-for-ballys-casino/#comment-376771 Wed, 03 Jul 2024 02:35:50 +0000 https://www.abouttanzanitejewelry.com/news/?p=324280#comment-376771 What about ongoing investigations that are not mentioned above? In early December, reporters at PlayIllinois.com revealed that Bally’s Chicago is drawing the eye of both local and federal investigators. That was according to Crain’s Chicago Business, which reports that authorities are looking at the bidding process that resulted in Bally’s winning the opportunity to construct a casino in Chicago. The probes were spurred by complaints from unsuccessful bidders, the report said. No one close to the investigations has reportedly commented on the probes. However, Chicago Alderman Brian Hopkins confirmed the federal investigation, and claimed the entire Bally’s Chicago project could be at risk of coming to a complete halt. The federal investigation is reportedly being spearheaded by the U.S. Attorney’s Office. City of Chicago Inspector General Deborah Witzburg is reportedly running the city’s investigation. Early December was over six months ago. In the interest of transparency, please provide us with an update. Are those two investigations still underway?

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