Bally’s Corporation has completed the previously planned purchase of Caesars Entertainment’s Stateline, Nevada-based MontBleu Resort Casino & Spa.
The acquisition was first announced in April 2020 as part of a $155 million joint venture that included Louisiana’s Eldorado Shreveport Resort and Casino, which was completed in December of last year.
Tom Reeg, CEO of Caesars Entertainment said: “I want to thank the team members of MontBleu for all of their hard work and dedication throughout the years with the Caesars organisation, particularly during the COVID-19 pandemic. We wish all of them continued success under Bally’s ownership.”
MontBleu, located just minutes from Lake Tahoe, has 418 slots and 17 tables, 438 hotel rooms, and nearly 14,000 square feet of conference, meeting, and exhibition area.
Premier entertainment asset
Bally’s Corporation’s president and chief executive officer, George Papanier, added: “MontBleu is a premier entertainment asset that is commensurate with the iconic Bally’s brand, and advances our ongoing portfolio diversification strategy.
“With the close of this transaction, we look forward to integrating the property into the Bally’s family, and utilising it as an attractive destination for our loyal Bally’s customers to drive visitation to Lake Tahoe.”
Bally’s insists that it is aiming to become “the first truly vertically integrated sports betting and igaming company in the US with a B2B2C business model” after rebranding from its previous Twin River Worldwide Holdings moniker.
Last month Bally’s signed an ‘Agreement In Principle’ for Gamesys’ acquisition, in which the US casino operator will buy the venture for 1,850 pence per share.
Following the conclusion of Bally’s acquisition of Monkey Knife Fight, this transaction will see Bally’s buy the entire issued and to be issued ordinary share capital of Gamesys.