DKNG - Bally's Corporation: Making A Case For This Chicago Casino Developer Is Tough
2024-07-19 19:08:46 ET
Summary
- Bally's Corporation has a long history, with roots in Chicago and a legacy of acquiring orphaned casino hotels.
- Standard General's plan to take Bally private for Chicago casino financing faced opposition, but eventually found a credible partner in Gaming & Leisure Properties REIT.
- Bally's future success hinges on the development of the Chicago casino, but challenges in the industry and competition in online gaming pose risks.
Above: Chicago presumably has dream demos for an urban casino. But so did the Harrah's New Orleans project, which went bankrupt in 1995.
Premise: To really understand this stock, you need a bit of memory to track how it got to where it stands today as an oversized wannabe constructed from so-so legacy properties. It's okay, but at best a collection of orphaned casino hotels nobody wanted....
Bally's Corporation: Making A Case For This Chicago Casino Developer Is Tough