Bally’s Chicago Reports 12.7% Revenue Growth in March 2024 as Bally’s Corp. Mulls Takeover Bid
Following a takeover bid by its biggest shareholder, an $800m financing gap for the construction of a planned Chicago casino, a project worth $1.7bln, and a credit downgrade by the rating agencies, business flow at the Chicago-based interim establishment of Bally’s Corporation continues to grow.
Temporary casino revenue data:
Profits at Medinah Temple temporary casino rose by 12.7% last month to over $11.1m in adjusted gross income, based on information provided by the Illinois Gaming Board on April 11. Additionally, among the fifteen casinos in Illinois, Bally’s Chicago was in 4th place in terms of profit collected.
As for the admittance to the said casino, it grew by 11.6% to almost 118,000 visitors, which means that the casino took the 2nd place. First place goes to Rivers Casino Des Plaines, the top-billing and busiest casino in the state.
The interim facility hosted over 271,000 visitors and collected almost $47.8m in adjusted gross profit last month. As for Q124, it collected almost $30.3m in adjusted gross income and over $3m in domestic tax income.
However, while impressive, current profit fell short of the profit target Chicago had …
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