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If the latest extension had not been granted, Bally’s would have had to close its temporary casino at Medinah Temple until the permanent venue was completed. That would have resulted in multiple months with no revenue in the market, but Kim told iGB at the East Coast Gaming Congress in April that a closure of the temporary site was “not the end of the world”.
Meanwhile, Bally’s is forging ahead with an even bigger project to the east, its $4 billion Bally’s Bronx resort in New York City. The company was one of three NYC licence winners last year, alongside Resorts World New York City and Hard Rock’s Metropolitan Park.
Bally’s announced on Monday that it has secured a total of $560 million worth of financing from WhiteHawk Capital Partners “to fund further development of the Bally’s Bronx project and general corporate purposes”. The funding will close this quarter, the company said.
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The CFTC’s move also comes as other US regulators continue to craft their own crypto policies. The agency and the Securities and Exchange Commission (SEC) jointly issued an interpretation in March on how certain crypto assets would be treated under federal securities laws.
A lot of bigger questions remain without the CLARITY Act. The bill aimed to establish a federal framework for digital commodities and delineate the roles of the SEC and the CFTC.
Its failure also leaves unresolved disputes over prediction markets and state and tribal gaming authorities, outside a comprehensive congressional framework. Those issues took on new significance during Senate floor debate over the bill, as concerns about federal commodities oversight extended to markets typically regulated at the state or tribal level.
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Van Lancker said the merger would combine the strengths of both businesses to create a larger and more diversified company with “greater scale and enhanced capabilities” to accelerate growth and create value.
The enlarged group could deliver up to €4 billion in capital returns over the three years following the completion of the deal.
Cirsa has followed an aggressive acquisition strategy in recent years, most recently entering the land-based casino market in Portugal by acquiring a majority stake in Sociedade Figueira Praia, S.A., the owner and operator of Casino Figueira.
