Bally’s revises Chicago casino IPO to favour Illinois residents
Bally’s said on 23 April it was extending its IPO for the $1.7 billion Chicago casino project, with preferential allocations for Chicago and Illinois residents. The revised offering follows lawsuits over the previous restriction to women and minority investors; the company’s host-community agreement requires one quarter of ownership to go to minority individuals and minority-owned and controlled businesses.
The revised allocation terms affect who can invest and Bally’s ownership obligations under its Chicago agreement.