Casino Problems
Also:
Bally’s (NYSE: BALY) accomplished a dubious trifecta as its credit rating has been lowered by a third major ratings agency.
On Monday, Fitch Ratings downgraded the regional casino operator’s credit grade to “B” from “B+”, citing increasing leverage. The research firm has a “negative” outlook on that rating, which moved deeper into noninvestment-grade territory.
[...]
The research firm added that Bally’s expansion opportunities, including a planned $1.1 billion casino hotel in Chicago, as well as weakness in its North American digital unit could be continued drags on earnings before interest, taxes, depreciation, and amortization (EBITDA).
With the move by Fitch, all three major ratings agencies have lowered Bally’s further into junk status in less than two months. Moody’s Investors Service did so last week.
Nothing like trying to build and open a casino in an inflationary spiral economy, on the verge of collapse, in a dying blue $hithole city with minimal economic prospects.
Labels: money questions
posted by SCC at 12:03 AM
37 Comments:
Slot machines in Board of Ed facilities and illegal invader dormitories/warehouses are the answer.
There is zero possibility of turning a profit after all of the payoffs
Machine payouts at Ballys is horrible
I win all the time at the dusty ass horseshoe
Writeoff the loss...
Fuck you ...Pay me
If I was a betting man I'd say they get a casino half built then stop work when they run out of money. Another festering eyesore in a dying city.
"Nothing like trying to build and open a casino in an inflationary spiral economy, on the verge of collapse, in a dying blue $hithole city with minimal economic prospects."
This sums it up completely. The politicians will keep lying to the taxpayers, and themselves in the false belief that Chicago is somehow salvageable under their "leadership."
Casino's are always a gamble.
Only a good bet where the micreants do not run free and easy.
Bally's has been a poor draw in Chicago so far, and hasn't been able to establish its permanent location. How about a multi-use facility for the Bears, Sox, and Bally's? Would help ensure increased crowds for Bally's and perhaps result in retention of the pro franchises.
But, it's would be a longshot in a city where the politicians seem more interested in legalizing prostitution, or virtue signaling with illegals; and, are incapable of even winning their own pet referenda.
The only ones who benefit from casinos are the stockholders
No surprise here, plus the location is total garbage especially when you have the McCormick Place the old building wide open ready to take on this endeavor plus the old building has millions of square feet to put all the illegal criminals that the mayor of the city wants more of he should put all the illegals in there also along with the casinos why not.
the casino will soon announce that in the name of diversity, equity and inclusion, it's gambling machines will now accept the Illinois Link card......
The community will frequent that casino causing anyone wilt a lick of sense to steer clear. Will become a magnet for drug sellers to squander their ill gotten gains. Red Line will bring the best from the southside and GreenLine will bring the best of the West side. What could go wrong. Security will be powerless and out gunned and out numbered. Pity the stupid tourists that think a Casino night in Chicago is just what Dr ordered.
Bad business decision.
I'd go if they had a sports book.
C'mon Bally's! You're missing a big market that DraftKings is scooping up in Wrigleyville.
misery loves company.......copy and paste from the scum times
Look for Chicago’s pension mess to become worse. That’s a bad sign for taxpayers.
The illegals won’t be happy. They were looking forward to all the jobs they were going to get working there like they were promised.
Crime infested shitholes usually don't do big business. Notice all the vacancies in Chicago? Those are less people that will go to a casino here. Indiana is close and more civilized.
Just remember, Lightfoot and her cronies picked Ballys in a closed door behind the Alderman’s back move!
Not only stockholders will benefit from this casino.
Some profits are to be used to fund police and fire pension funds.
But, we remember that the Lottery was supposed to fund schools. Oh, well!
Wait a minute we thought that Emmanuel was a great treasure hunter finding money everywhere. Now it looks like Brandon is finding $150 million to ruin downtown with Cabrini Green style apartments. Where is he getting all the money from hopefully keeps throwing it into the pension fund, we need it thank you Brandon for funding the pension, but you don’t get kudos for ruining the city. What about all the illegals that you’re still taking in?
https://chicago.suntimes.com/real-estate/2024/04/03/mayor-johnson-proposing-150m-tif-assistance-lasalle-street-revamp
This is hardly a casino....the crap building it is in now is just a slot shed, taking the pensions of old fools.
Anonymous Anonymous said...
No surprise here, plus the location is total garbage especially when you have the McCormick Place the old building wide open ready to take on this endeavor plus the old building has millions of square feet to put all the illegal criminals that the mayor of the city wants more of he should put all the illegals in there also along with the casinos why not.
4/03/2024 06:32:00 AM
Very true why not use the old place to lock up err coddle the illegal criminals brandon allows in as he is spineless just like billionaire trust fund baby JB! Anything to ruin this city for a vote!As they are protected 24/7 by legions of police most they despise but use coppers you will!
According to the Illinois Gaming Board video gaming devices are not allowed in Chicago. If true there’s a ton of income being left out of city finances. The small village I live near in northwestern Illinois with s local population of around 10K is raking in about 50K a month as their share of video gaming receipts with just 22 locations in total. How much could the city receive if it allowed video gaming, millions.
Looks like Hein might have to find a new gig when he retires 😂😂
The Hard Rock Casino in Gary, Indiana off I-80, Exit 6.
Is way better than any casino in Illinois!
I go there to hang out playing slots, table games, eat at the cafe and sports betting during March Madness and won!
The shows are pretty good too!
You can keep Bally's!
Wow!
Just think, Dean Angelo gave up the free medical insurance premium at 55 and agreed to 2% with the city all for a percentage of casino proceeds that took over 10 years to become a reality.
How little is the pension fund going to get from a casino that is struggling to stay afloat and it's owners have to resort to equity financing or borrowing at high interest rates?
And that free insurance premium is now 3%
Build a second navy pier and make the casino part of it. Can’t be that hard to build one. And no not on ss by the steel plant. No one what’s to drive through the ghetto for anything, except to get out.
Casino with top flight entertainment and hotels parking and a cover charge. Link it to the new two sport stadium. The casino can’t be a stand alone entity. Not enough of a draw.
Trying to build a castle with the contents of a septic tank.
All the casinos are built and run by the Mob from NYC.
Another loss by Larry the Loser. Now Brandon the Dummy is holding the bag o shit.
Pop-Up Dice Games
CWBchicago...
Bally’s lite
Some of our newest Chicagoans have set up dice games outside two of the city’s major shelters, according to separate CPD reports.
Police arrested three men and a woman on March 21 after seeing them “wagering an unknown amount of green paper [United States currency]” on the roll of dice outside the shelter at 1308 North Elston, across from the Salt Shed.
“We didn’t know it was illegal,” the woman allegedly told the officers. “We play all the time.”
On March 13, Chicago cops arrested three male migrants for operating a dice game outside the Standard Club shelter, located at 320 South Plymouth.
The pension will be fine.
Any casino is just a complete waste of your money you work hard for your money and then you want to go and just throw it away, senseless!
Does Ballys know they are turning downtown into a housing project? Imagine a casino in Shitcago/Dietroit losing money. Only someone W/ zero intelligence could actually get a casino to lose money AND their credit rating!!!!! Good job mayor trembly pants……. I’m thinking of his majesty conehead looking like Redd Fox from Sandford & Son oohh baby I’m coming I can feel another panic attack coming oh baby it’s coming (couldn’t quote it word for word because I was 10 when that show was on & don’t remember the wife’s name)
Only the Chicongo Democrats could turn a multi-billion dollar casino company into a bust out in a couple of years... Why anyone does business in Hellinois is beyond me.
The illegals won’t be happy. They were looking forward to all the jobs they were going to get working there like they were promised.
The best the illegals will do is sell elotes and candy on the streets.
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