Bally’s Corp. and the city of Chicago said they have settled a lawsuit brought by two white men and a conservative legal group that challenged a $1.7 billion casino project that offered ownership stakes only to women and people of color.
The settlement comes after Bally’s revised the share-sale terms in April by opening it up to other investors. No terms were disclosed in a Friday federal court filing in Chicago, where the men had sued in January alleging discrimination.
Bally’s initially offered a 25% stake in the project to only women and minority investors as part of the company’s bid to win the casino license from the city in 2022. It was part of a broader effort to create wealth among disenfranchised communities that historically don’t reap the benefits of Chicago’s biggest developments.
