Key Takeaways
Bally's website mentions just two future Bally's brick-and-mortar casinos. Nothing is mentioned about Petersburg. They proudly mention Bally's Chicago and the first land-based Bally's casino in Pennsylvania planned for inside the nearly vacant Nittany Mall in State College, PA. The estimated cost of that planned Pennsylvania casino is $120 million. The State College casino is rarely mentioned when Bally's future financial commitments are described in any news article, so thank you Devin for including it today! The construction of the Bally's Pennsylvania casino might be a bit easier since the casino location is INSIDE a former Macy's department store. But wait! Legal wranglings over this Bally's project began in July 2021. The decision to approve or deny the actual ISSUANCE of that Bally's Pennsylvania casino license awaits a decision by the Pennsylvania Supreme Court at a date yet undetermined. The legal battle involves a lawsuit filed against the winning bidder by the non-winning bidder. At this point, some analysts remain doubtful if Bally's can find financing for that $120 million casino in a mall just four miles from the main campus of Penn State. Seems like a lot to spend just to put a small Bally's casino into an old Macy's store. Bally's should recalibrate that decision and remember that today's college students mostly enjoy betting on sports via their smartphones. They don't look for slot machines and hope to hit elusive jackpots to brag about to their classmates. Their peer group pals would literally roll their eyes about that unlikely dream if it was mentioned out loud. Those same students' meager discretionary spending dollars would not last for 10 minutes with current casino table game minimums. Then it's time to call Mom or Dad again. Does this planned $120M casino in State College look like a wise business decision by the small inner circle of Bally's decision-makers? Not even close!
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