The Bally ’ s Atlantic City property is currently the flagship for the brand ’ s 16 casinos
But maybe the biggest news over the past year has been the awarding of the single Chicago gaming license to Bally ’ s . Kim says the Chicago property will be a “ landmark casino ,” and is proud to have bested two impressive rivals , Hard Rock and River City Group , whose owner , billionaire Neil Bluhm , is a native Chicagoan .
“ Sometimes when you are the underdog , the David , you just have to be more intentional about every action that you take ” he says . “ You have to try harder , you have to work harder . I ’ m an immigrant , I wasn ’ t born here , and we didn ’ t come with any advantages . I ’ ve had to work to carve out a life for myself and my family . In Chicago , we were there to sort of impose our belief system .”
Chicago has always been a highly sought-after destination , with a higher per-capita number of gamblers than perhaps any city outside of Las Vegas — it has long been the largest contributor , outside of California , of visitors to Vegas .
“ Chicago is obviously the third-largest metropolis in the country ,” says Kim . “ But it ’ s the second-most popular tourist destination in the country , with 55 million tourists a year that visit Chicago . And guess what ? They ’ re all coming to the Miracle Mile , the North Loop , and we are literally steps away .” Bally ’ s is currently planning a temporary casino in Chicago in the landmark Medinah Temple building , with a projected opening date of late second quarter 2023 . The permanent casino would be located in the River West neighborhood at a location currently occupied by the Tribune building . Opening is expected in 2026 .
Bally ’ s recently closed the deal to purchase the operations of the Tropicana in Las Vegas — gaming REIT GLPI owns the real estate — giving the company a foothold on the Las Vegas Strip . With Caesars rebranding the Bally ’ s property on Flamingo and the Strip as a Horseshoe , the Trop will eventually join the Bally ’ s brand . It ’ s a property in desperate need of a renovation or a complete demolition , but Kim says they ’ ll take their time before deciding the direction of the property .
While Kim says they haven ’ t been part of the negotiations thus far , baseball ’ s Oakland A ’ s are considering relocating to Las Vegas , and have viewed the Tropicana site as ideal for a new state-of-the-art stadium . Reports say it would be a mixed-use development that could include a Bally ’ s casino .
“ We control a very important corner on the Strip ,” he says . “ And they ’ re not creating more Strip corners . And it ’ s for a very modest price , so we can afford to be patient . We ’ ve built our business by cleaning up other people ’ s mistakes ; we don ’ t intend to make our own . I believe that there is tremendous potential for a redevelopment at that site , but we want to be cautious and be patient , as the opportunity presents itself .” As for the A ’ s stadium deal ? “ They just have to feel the love from the community ,” he says , “ and I think that ’ s political . We don ’ t really get involved in that . And so , I hope that this community will figure that out , because I think it would be great .”
A bidding process has begun for another gem for any company ’ s gaming portfolio , a casino in or near New York City . Kim has a special affection for the area .
“ I ’ m from New York ,” he says . “ New York is the most important market . It ’ s untapped . And it deserves to keep its own tax revenues , its own jobs , in the state . I ’ m a New York City taxpayer ; I would like to keep our own taxes . I just think it ’ s one of those things that ’ s a matter of basic fairness .” He admits that the competition will likely be quite formidable . “ I think if people were to make a shortlist , they probably wouldn ’ t put us on it , and I think that ’ s great ,” he laughs . “ Because we are happy to play the role of the underdog .”
Online Ambitions
The brick-and-mortar casinos are just part of the equation for Bally ’ s . The other side is the sports betting / iGaming end , and for Kim , it ’ s not happening fast enough . Part of the reason for that sluggishness is Bally ’ s commitment to owning their technology . That led to the purchase of Bet . Works , an online sports betting platform , and Gamesys , a U . K . -based iGaming company . Incorporating the two has been a journey , according to Kim . Bally Bet is the
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