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Papanier said the components of Bally’s Chicago that are being “reset and re-contemplated” are “all in conjunction with the proliferation of VGTs”. While the current number of licences is low, he asserted that widespread proliferation could result in a “30% to 50% impact on top-line revenue” for the casino and it would be “irresponsible” to continue construction “until we understand what the landscape looks like”.
Bally’s stock jumped 7% in trading on Monday to $9.84. Shares had fallen 30% in the last month in response to uncertainty in Chicago and warnings about the company’s ability to continue as a growing concern in its Q2 earnings report. Former CFO Mira Mircheva resigned on 4 September, prompting Papanier to take over the role on an interim basis.
The VGT dispute and construction reset are the latest chapters in a long and bumpy road for Bally’s since winning Chicago’s sole casino licence in 2022. Work has been halted for debris overflow and for unapproved contractors, and the company faced an $800 million funding gap that was eventually filled through a financing agreement with Gaming and Leisure Properties. Potential interference with city water lines also necessitated a significant redesign of the hotel plan.
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Can anyone emulate the Red Devils this year? Let’s look into our crystal ball and find out!
Arsenal vs. Benfica (Agg 1-1) (5.55pm GMT kick-off)
Last week’s first leg between these two sides was a frustrating one for both teams. Benfica will feel disappointed not to have taken advantage of Arsenal’s wasteful nature in front of goal, while The Gunners will be kicking themselves not to have sealed the tie at the first time of asking.
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Speaking during an interview on his appointment published via Allwyn’s Linkedin page, he said he had worked on player protection “from every angle”.
Rodano’s appointment reflects Allwyn’s commitment to enhancing responsible gaming as an integral part of its growth strategy, the company said in a statement announcing the move.
The company’s existing businesses have achieved Level 4 accreditation under the World Lottery Association’s responsible gaming framework – the highest possible level.