Atlantic City’s Bally Back in Business With New Owners in Place
Some time ago, Phil Juliano looked through the rose-tinted glass windows at Bally’s casino or, to be more precise, rose-tinted glass dappled with oddly placed blue squares.
He gazed up as he walked by the Boardwalk at the glass-protected tower of the establishment that had once been the seaside gambling resort’s finest and most profitable casino. Seeing a previously damaged window irritated him tremendously.
Juliano works for the new owners of the casino, a company from Rhode Island that was formerly called Twin River but has changed its name to Bally’s since.
Every window within this magnificent, famous hotel that was set in a blue hue will be the color rose by the middle of July. Juliano says that it’s a metaphor for what the leadership wants to achieve.
The decline in resources led to a decline in Bally’s performance. Last year saw Bally registering record lows, especially since the pandemic hit and casinos were closed for more than three and a half months. The winnings from gamblers were the lowest for Bally’s in comparison to the nine other casinos across Atlantic City. Bally didn’t record an impressive figure even in 2019, where it was one slot away from finishing right at the bottom.
When Caesars Entertainment shuttered the Showboat and the Atlantic Club in 2014, the company was in the midst of a catastrophic downturn with four casinos closing their doors; the chairman at the time, Gary Loveman, hinted that Bally’s maybe next. Bally’s survived initially outlasting the words of Loveman but rapidly progressed to its downward fall.
Twin River Worldwide Holdings was a smaller regional casino firm when it purchased Bally’s for $25 million in April 2020, together with casinos in Shreveport, Louisiana, and Lake Tahoe, Nevada, which was a smaller local casino firm at the time.
April of 2020 saw a massive change with the entrance of a smaller regional casino in the fold.