On August 14, Bally’s Corp. disclosed the ending of its initial public offering to partially finance $1.7 billion Bally’s Chicago.
According to Bally’s, some 1,573 investors (out of a total of 1,800) bought into the IPO. Of that 1,573, Bally’s said 1,007 were from Chicago itself.
The public offering was initially open only to female and minority investors. Bally’s dropped that requirement in response to litigation by two Texas-based men.
In its formal statement announcing the closure of the IPO, Bally’s called it “an innovative way to do public-private partnerships.” It also announced that this would be the first of “a few rounds of placements.”
Bally’s had targeted $190 million to be raised by the offering. It didn’t disclose how much the 1,800 investors had put into Bally’s Chicago.
