The Nevada Gaming Control Board has approved the acquisition of Lake Tahoe’s MontBleu Resort Casino & Spa by Bally’s Corp.
The purchase dates back to last April, when Rhode Island-based Bally’s, then known as Twin River Worldwide Holdings, agreed to a $155 million package deal with Eldorado Resorts for MontBleu and Eldorado Shreveport Resort and Casino in Louisiana.
Subsequent deals worth $255 million for two Eldorado-owned casinos in Kansas City, Missouri, Vicksburg, Mississippi, and Caesars Entertainment’s Bally’s Atlantic City have boosted the Bally’s portfolio to 11 casinos in seven states𑁋“one of the best regional footprints in gaming,” CEO George Papanier told the Control Board during last week’s hearing.
He said the company will build on a data base of 14 million customers to enhance its cross-marketing through a “comprehensive national rebranding initiative” and the addition of “a one-card solution to our brick-and-mortar and interactive technology.”
In November, Bally’s acquired sports betting platform Bet.Works and concluded a partnership with Sinclair Broadcasting, home to 21 regional sports networks, as the springboards for an expansion into the online market.
“Not only are we a gaming company,” Chairman Soo Kim told the Control Board, “and starting to become a technology company, but we are also a media company through our parentship with Sinclair and the rights to integrate their content.”
