Bally’s Launches Unique Casino Investment Opportunity for Women and Minorities

Rhode Island-based Bally’s Corporation is giving an exceptional chance to invest in its ambitious $1.7 billion integrated resort development in Chicago, opening the door for female and minority investors. This initiative is designed to promote diversity within the investment landscape of the gaming industry.

When the gaming company announced its plan under the name Bally’s Chicago, Inc., it specified that a significant portion of the equity would be reserved for minority and female investors. The offering stipulates that individuals and entities wishing to invest must be controlled by women or members of minority groups.

Commitment to Diversity in Investment

Investors eligible for this opportunity encompass individuals from various minorities, including Black, Indian, Asian, Hispanic, and Arab backgrounds, among others. These criteria are aimed at promoting fairness and countering the social disadvantages experienced by these groups in American society.

The investment stakes range from $250 to $25,000, with an overall goal of raising $250 million. Bally’s is currently in the process of demolishing the Freedom Center, a facility previously owned by Chicago media companies, having acquired the site for $200 million.

Host Community Agreement and Community Support

This initiative forms part of the Host Community Agreement (HCA) that Bally’s established with the city of Chicago, which emphasizes a promise of inclusion and support for minority ownership in the project. The agreement specifies that 25% of the project’s equity be owned by individuals from minority backgrounds or minority-controlled businesses.

Bally’s Chicago has pledged to deploy substantial efforts to locate suitable candidates interested in investing, thereby promoting inclusion.

While Bally’s intends to make dividend distributions, it also cautions potential investors about the inherent risks associated with such investments, highlighting that participants should only invest funds they can afford to lose.

Once operational, the city anticipates about $200 million annually in tax revenue from this casino, aimed at bolstering the pension program for first responders. Bally’s currently aims for a grand opening of the Windy City resort by September 2026, while operating a temporary gaming facility in the interim.

Pioneering Jobs for the Underrepresented

Further demonstrating its commitment to diversity, Bally’s has outlined plans to create job opportunities for women, minorities, and underrepresented communities at the permanent resort. The HCA stipulates that 60% of jobs will be designated for minority workers, with women comprising a minimum of 45% of the workforce. The casino also aims to ensure that at least 10% of employees are veterans or individuals with disabilities.

To facilitate job placements, Bally’s intends to collaborate with respected workforce development organizations in the Chicago area, including Skills for Chicagoland’s Future and others.

Conclusion

Bally’s Corporation’s innovative approach to fostering minority investment and job creation in Chicago not only aims to reshape the local gaming landscape but also serves as a model for diversity in the business sector. With these commitments, Bally’s is not just building a casino; it is building a foundation for a more equitable community.