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Chicago & Midwest  + Downtown  + Finance  | 

Bally’s Closes IPO for Chicago Casino

Bally’s Corporation has completed its initial public offering of roughly $250 million in Chicago casino shares. The Rhode Island-based gaming company did not say how much was raised in the IPO, described as a Community Investment Program that allows non-accredited local residents to invest in the Bally’s Chicago casino and resort project and share in ownership.

“As a result, nearly 1,800 unique shareholders, including 1,007 Chicagoans and 1,573 Illinois-based shareholders, are now partners of the project, going a long way to fulfilling our commitment to the City of Chicago,” the company said in a statement.

The IPO, which offered shares in four stock classes, was managed by Loop Capital Markets. Bally’s first announced the offering last December, initially limiting it to women and minorities in accordance with its community host agreement with the city. Bally’s said on Thursday that the IPO would be “the first of a few” such offerings.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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