Bally’s Atlantic City Betting on a Revival Mode

Phil Juliano, an executive with the casino’s new owners, once, while walking down the Boardwalk in Atlantic City, looked upon the glass-encased tower, the trending casino, had broken windows. Looking at them, Phil said, “That’s it.” By mid-July, all the windows of this iconic hotel tower will rise and are symbolic. Bally’s intend to revive comatose casinos in the current casino competition situation in America. 

For the past many years, Bally’s was a priority for former owners of Caesars Entertainment, which once enjoyed lavish attention and reinvestment cash on two higher-profile Atlantic City casinos, Harrah’s and Caesars. However, after enjoying the attention, its resources started declining along with its performance. Last year, the pandemic lockdown forced casinos closure for 3-4 months. This was the dead-end for Bally’s in Atlantic City. Back in 2014, Caesars Entertainment closed the Showboat and the Atlantic Club due to industry slowdown. The then-chairman Gary Loveman indicated Bally’s would not be able to sustain for long. However, in April 2020, R.I- based Twin River Worldwide Holdings, which was once a tiny casino company, bought Bally’s for $25 million along with Lake Tahoe, Nevada, and casinos in Shreveport.

Post the purchase of Bally’s; the company went on a buying binge of technology, content company, and gambling. It is to become an integrated mix of in-person and online gambling companies. Presently, the company owns 14 casinos. Last November, the company promised New Jersey gambling regulators that it is planning to invest more than $90 million into casino-hotels in the next five years. According to Jane Bokunewicz, the gambling and tourism institute coordinator at Stockton University said that this is an excellent opportunity for reintroduction to the market, which it has lost over the past few years. Bally’s will profit from public excitement about the new offering. Moreover, customers will be keen to see what new things have been introduced.

Past few weeks, Bally’s office is witnessing some reconstruction work. Electricians are working on wiring, handymen removing old signs from walls—workers using spray bottles wiping glasses. The company is in plans to add restaurants, Italian eateries, which opened a few weeks back. Moreover, all 1200 hotel rooms will also get redone. Juliano promises that Bally’s will return strong with more entertainment added with live music on the sand and a beach bar.