Bally’s files registration statement for Chicago casino IPO

Bally’s has filed a confidential draft registration statement for a proposed initial public offering (IPO) of shares in Bally's Chicago.

The filing with the US Securities and Exchange Commission (SEC) relates to Bally’s proposed new casino resort in Chicago, Illinois, and aims to give qualified residents of the city the opportunity to acquire an ownership interest in the business.

The company is yet to determine the price range for the offering, and the number of shares to be offered to residents that satisfy requirements under the Host Community Agreement between Bally's Chicago and the City of Chicago.

The initial public offering is expected to occur after the SEC completes its review process, subject to market and other conditions.

Bally’s proposed $1.7bn casino project in Chicago will include a 3,000-seat theatre, exhibition experience, 500-room hotel tower, and a host of leisure, entertainment and dining options. The casino will feature 3,400 slots and 170 table games.

Shares in Bally’s Corp. (NYSE:BALY) closed 1.01 per cent higher at $15.98 per share in New York Monday.