{"id":472661,"date":"2021-04-07T08:03:47","date_gmt":"2021-04-07T12:03:47","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=472661"},"modified":"2021-04-07T08:03:47","modified_gmt":"2021-04-07T12:03:47","slug":"ballys-corporation-completes-acquisition-of-montbleu-resort-casino-spa","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/ballys-corporation-completes-acquisition-of-montbleu-resort-casino-spa\/","title":{"rendered":"Bally’s Corporation Completes Acquisition Of MontBleu Resort Casino & Spa"},"content":{"rendered":"
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PR Newswire<\/p>\n<\/p><\/div>\n

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\n PROVIDENCE, R.I.<\/span>, April 7, 2021<\/span> \/PRNewswire\/ —\u00a0Bally’s Corporation (NYSE: BALY), a leading U.S. omnichannel provider of land-based gaming and interactive entertainment, today announced that it has completed the previously announced acquisition of MontBleu Resort Casino & Spa (“MontBleu”) from Caesars Entertainment, Inc. (NASDAQ: CZR). <\/p>\n

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\n George Papanier<\/span>, President and Chief Executive Officer of Bally’s<\/span> Corporation, said, “MontBleu is a premier entertainment asset that is commensurate with the iconic Bally’s brand, and advances our ongoing portfolio diversification strategy. With the close of this transaction, we look forward to integrating the property into the Bally’s<\/span> family, and utilizing it as an attractive destination for our loyal Bally’s<\/span> customers to drive visitation to Lake Tahoe<\/span>.” <\/p>\n

MontBleu is located in Stateline, Nevada<\/span>, which is situated minutes from Lake Tahoe<\/span> offering spectacular views of the Sierra Nevada mountains. The property features approximately 418 slots, 17 tables, 438 hotel rooms and approximately 14,000 square feet of flexible convention, meeting & exhibition space.<\/p>\n

\n About Bally’s<\/span> Corporation<\/b>\n <\/p>\n

\n Bally’s<\/span> Corporation currently owns and manages 12 casinos across eight states, a horse racetrack and 13 authorized OTB licenses in Colorado<\/span>. With more than 6,000 employees, the Company’s operations include 13,308 slot machines, 460 game tables and 3,342 hotel rooms. Following the completion of pending acquisitions, which include Tropicana Evansville (Evansville, IN<\/span>) and Jumer’s Casino & Hotel (Rock Island, IL<\/span>), as well as the construction of a land-based casino near the Nittany Mall in State College, PA<\/span>, Bally’s<\/span> will own and manage 15 casinos across 11 states. Bally’s<\/span> also maintains a multi-year market access partnership with Elite Casino Resorts through which it will provide mobile sports betting in Iowa<\/span>, as well as a temporary sports wagering permit to conduct online sports betting in the Commonwealth of Virginia<\/span>. Its shares trade on the New York Stock Exchange under the ticker symbol “BALY.”<\/p>\n

\n Cautionary Note Regarding Forward-Looking Statements<\/b>\n <\/p>\n

This document includes forward-looking statements within the meaning of the securities laws. Forward-looking statements are statements as to matters that are not historical facts, and include statements about Bally’s<\/span> plans, objectives, expectations and intentions.<\/p>\n

Forward-looking statements are not guarantees and are subject to risks and uncertainties. Forward-looking statements are based on Bally’s<\/span> current expectations and assumptions. Although Bally’s<\/span> believes that its expectations and assumptions are reasonable at this time, they should not be regarded as representations that Bally’s<\/span> expectations will be achieved. Actual results may vary materially. Forward-looking statements speak only as of the time of this document and Bally’s<\/span> does not undertake to update or revise them as more information becomes available, except as required by law.<\/p>\n

Important factors beyond those that apply to most businesses, some of which are beyond Bally’s<\/span> control, that could cause actual results to differ materially from our expectations and assumptions include, without limitation:<\/p>\n