Casino on the Road to Fail
And some questionable accounting practices even before it's open (click for larger versions):
We're told this is part of a Crain's article? Someone want to explain how this is legal? Counting $250 as $25,000 and excluding investors based on skin color and gender?
For $250, we'd like to see the FOP, PBPA and Pension Fund as investors since it's supposed to be bailing out the pensions anyway.
Labels: money questions
posted by SCC at 12:02 AM
51 Comments:
Sounds like a "hold my beer" set up.
Just have any white men identify as women. Problem solved.
Counting $250 as $25,000 ....
Any fool can see a con game coming...
Chigetto is falling apart….the new Detroit
Bally's own Press Release states as much. I don't subscribe to Crain's but I scanned the text to no avail.
"No White Men Allowed in Bally's Chicago Casino Share Offering Promoted by City Officials" - This headline points back to the blog ZeroHedge and some other right wing sources. I doubt Crain's would be quoting them.
This casino won't make it. Downtown Chicago turned ghetto . Too risky to try gambling and not get followed out and to your house only to be robbed of your winnings.
Only losers go to casinos! Check the stats, the house never really loses.
Why is everything about race in chicago? Go woke, go broke! The city is well on their way.
We're told this is part of a Crain's article? Someone want to explain how this is legal? Counting $250 as $25,000 and excluding investors based on skin color and gender?
SCC,
Read the Chicago Police Departments Racial Equity Action Plan (REAP).
Also, then Sup. Brown when speaking to a per-service class stated he was only going to promote minorities and women. He stated that they cause less trouble and few lawsuits.
Question, since gender and gender-identity are social constructs and can change from moment to moment, can I be female while clicking the button?
Asking for a friend.
"The house always wins" means Wall Street, private equity, hedge funds and the top 1% will always win.
If the casino is a success, they will keep all the profits. If the casino is losing money, the tax payers will suffer the losses. The profits are privatized and the losses are socialized.
Fuck Chicago. Made the right call when I retired and left after 2020. Love spending every fucking penny of my pension in deep red America. Tax dope, whores or whatever you need to do to meet your obligations.
Day late. Dollar short.
Trump's in office , can't do that identify bullshit anymore
You got that right
No kidding this city is done.
You're buying a call option for $250. Low risk, possible return. Skip a meal out and buy it instead. You never know....
Who's the whore again? Look in the mirror, you'll see it...
Chicago waited too long to get a casino. There's far too many other locations up and running.
Tge Home Depot hotdog stand is “owned” by a F/4. I worked that F/4 decades ago. She met a white city supervisor who “backed” her application for a minority owned business. He gave her a percentage and he took the rest. He once asked me to do the same. Ask yourself why you see F/4’s working those stands in the Home Depot. He also said he planned to do the same in Vegas.
OT. Trump is getting things going with the aliens he has put quotas in to get ICE going. Good to see someone that will give a kick to get things going.
https://www.abs-cbn.com/news/world/2025/1/26/us-gov-t-eyes-daily-quotas-of-1-500-ice-arrests-agencies-target-chicago-0651
That is some Enron type of accounting.
Somebody is going to get screwed here and it's not Bally.
Detroit isn't even dumb enough to do this nonsense and their casino is profitable.
This will probably get killed in a lawsuit as discriminatory; regardless, it tells me white men should avoid gambling at Bally's. There are plenty of alternatives within a short drive.
No Caucasian men are dumb enough to think that this is a winning hand take your casino and stick it where the sun doesn’t shine
It's clearly racist. They only want minority/female investors to lose their investment. LOL!
This casino has the stench of failure written all over it. No investor in their right mind would touch this kind of risk, or liability. Maybe Chicago hasn't heard, DEI is dying and taking its final breaths...
Rachel Dolezal claimed she was black, Elizabeth Warren claimed to be native American, so yeah, you can feel like a woman, and screech that no one can argue with you because this is "your truth." Go for that promotion (but watch your step when you wear those spike heels!)
Agreed but what area did you move to?
No White Men Allowed in Bally’s Chicago Casino Share Offering Promoted by City Officials – Wirepoints
https://wirepoints.org/no-white-men-allowed-in-ballys-chicago-share-offering-promoted-by-city-officials-wirepoints/
..."A buyer will never see any dividends until the loan is repaid plus interest at 11% annually, compounded quarterly, and that could be a long, long time, if ever. The company says in its S-1 that it currently expects not to have cash available for distribution until approximately three to five years after the Chicago facility opens, which they are targeting for September 2026. “However, this may fluctuate depending on ”the ability to generate cash from operations and its cash flow needs and payments on senior debt.” At 11% compounded quarterly, the loan balance would double in less than six and a half years."
Superintendent Snelling needs to bring back Superintendent Charlie Beck's no merit promotions or reduce to 10% based on MERIT , not sex,race or political clout. Release reasons for every Merit . Politicians in Springfield need to end Gold Braid for CPD pensions
I’ve won big that’s not true at all
Not with that attitude it won’t
Please your eating at Hardy’s scratching lotto tickets in a gas station parking lot.
Worse, no one can use a system, such as counting cards, because somehow that's cheating.
NOPE Not buyiing any stock here!
Amen. I don’t care if BJ’s team of “security specialists” have to knock out a few $10 blowjobs a day and they legalize heroin for 12 year olds as long as my pension is funded. As long as my checks keep coming I don’t give fuck the first if Chicago completely implodes full ghetto style. Ain’t my problem to fix.
No sane person would want to hitch their wagon to a downtown Chicago Casino. It's guaranteed that the minority shareholders will eat the losses.
Hilarious...Fatso waffled faster than Hillary Clinton, or Kamala Harris on a campaign trail..."MMMmmm...Waffles" he was heard to say...
Great quotas is the way to get the ball rolling
Don't forget to read the 40 pages of investment risks in the filing
clip from wirepoints
Let’s start with city officials hyping the sale, as reported by The Triibe. Last Thursday, “City Treasurer Melissa Conyears-Ervin and members of the Chicago Aldermanic Black Caucus hosted an information session in the 21st Ward, the city’s largest Black ward, to inform residents about an opportunity for minorities and women to “create generational wealth” by buying shares in Bally’s Chicago, Inc.
“The most captivating part,” The Triibe wrote, “was when residents learned that they could put up as little as $250 of their own funds to partake in the investment that presenters expressed as the biggest benefit to the Black community.”
“Generational wealth”? “Captivating”? “Benefit to black community”?
Here’s the deal that’s offered, which is detailed in the company’s S-1 filing with the Securities Exchange Commission and other company materials: Instead of just buying one share for $25,000, a buyer can put up as little as $250 and Bally’s will loan you the remainder of the purchase price. You thus buy an “Interest,” as it’s called in the offering documents.
A buyer will never see any dividends until the loan is repaid plus interest at 11% annually, compounded quarterly, and that could be a long, long time, if ever. The company says in its S-1 that it currently expects not to have cash available for distribution until approximately three to five years after the Chicago facility opens, which they are targeting for September 2026. “However, this may fluctuate depending on ”the ability to generate cash from operations and its cash flow needs and payments on senior debt.” At 11% compounded quarterly, the loan balance would double in less than six and a half years
wirepoints cont...
Ald. Ronnie Mosley (21st Ward) was also there Thursday night boosting the deal. “Tonight is about a new opportunity on how to participate, about not just being a consumer but to be an owner,” he told the crowd of a couple hundred people, according to The Tribe.
They apparently sold many in the room at Thursday’s event, according to The Triibe, whose article also reads like a puff piece. They quoted one attendee from Chicago’s Chatham neighborhood who said, “It’s so many ways you can invest. I mean, to go from $250 all the way to $25,000, I mean, if you don’t have any money and all you have is 250 and they let you in,” she said. “That’s, like, a no-brainer for me,
Sorry I come by my money too hard to piss it away at a casino
That ship has sailed. They flooded the area with gambling, even at gas stations. Was out in Rosemount and checked out the casino there, got a leg cut from a tumbleweed blowing through there.
Those casinos are run by the Italian Mafia. Probably devout Roman Catholics.
What people dont realize is that Mayor BJ and the likes of Jesses Jackson, or Chicago Aldermen will shake down any "Black" business before they ever get to the investing table. BJ and J.J. will promise them their favor in being selected. Chicago is the city where the art of the "shakedown" was invented...
If you end gold braid you'll get a worse exempt than you already have. No smart able boss would do it without it, unless they still got overtime, regular fuloughs, and all the extras they got as Lts, and Cpts. They put in crazy hours, get furlough when allowed at only a week at a time, and no extras. There are Sgts and even a few POs that make money than them with OT. There are Lts and Cpts that make way more than them working way less.
Medina Temple was the test run to get out if needed. The test run will fail and it will never be built.
Is Talley still a DEI employee
Post a Comment
<< Home