Introduction
Bally’s Casino is a popular gaming destination located on the boardwalk in Atlantic City, New Jersey. Known for its high-stakes table games, endless rows of slot machines, and luxurious hotel accommodations, Bally’s is a world-renowned establishment that attracts visitors from all over the globe. With so much at stake, it’s important to know who’s in charge of running the show.
The History of Bally’s Casino Ownership
Following its opening in 1979, Bally’s quickly became a rumored Mafia front. Though these allegations were never confirmed, the casino’s ownership has certainly undergone numerous changes throughout its history. Today, Bally’s is owned by a handful of prominent corporations and investors.
The Current Ownership Structure
Bally’s is owned by Caesars Entertainment, Inc., a Nevada-based casino and hotel company, which is the majority shareholder. Twin River Worldwide Holdings, a Rhode Island-based gaming company, acquired Bally’s in late 2020, and currently holds a substantial minority stake. Additionally, a number of institutional investors and hedge funds own smaller stakes in the casino. Key players in ownership include Caesars Entertainment CEO Tom Reeg and Twin River CEO George Papanier.
The Impact of Bally’s Casino Ownership on Atlantic City
Bally’s has had a significant impact on the local economy in Atlantic City, creating jobs and stimulating economic growth in the region. Additionally, the casino has made substantial contributions to local charitable organizations, supporting causes such as homelessness and food insecurity. Bally’s involvement in the wider Atlantic City community has been an important facet of its ownership and management.
The Future of Bally’s Casino Ownership
As with any major casino, there is always the possibility of future ownership changes at Bally’s. It remains to be seen whether Twin River and Caesars plan to sell any of their shares in the casino, or if there may be other players in the gaming industry who acquire a stake in the establishment. Additionally, the changing landscape of the gaming industry as a whole could have implications for Bally’s ownership in the future.
Conclusion
Understanding who owns a casino like Bally’s is crucial for those interested in the gaming industry. From its early days as an alleged mafia front to its current corporate ownership structure, Bally’s has undergone numerous shifts over the decades. Today, the casino is owned by a mix of major corporations and investors who are playing key roles in shaping the future of the brand. As always, keeping a close eye on changes in ownership and management can help inform predictions for Bally’s future success.