For Bally’s Corp., the balance sheet doesn’t look good.

The company, whose 16 casinos include the Tropicana Las Vegas and Bally’s Lake Tahoe in Nevada, is carrying more than $3.6 billion in long-term debt, suffered a net loss of $172.6 million in 2023 and is facing an $800 million shortfall in its agreement to build a $1.7 billion casino resort in downtown Chicago.

Company chairman Soo Kim said he believes taking the gaming business private might help solve those problems. By taking the company off the stock markets and out of the hands of investors, quarterly financial results would no longer be reported and the company might have more flexibility because it wouldn’t have to answer to stockholders.