Bally’s, the Rhode Island-based gambling company, finds itself in the crosshairs of federal and local authorities over the acquisition of the highly sought-after Chicago casino license. The processes leading to Bally’s securing the license have triggered simultaneous investigations by both the US attorney’s office and Chicago Inspector General Deborah Witzburg.

Unsuccessful Bidders Trigger Federal Inquiry into Chicago Casino License

The federal inquiry, reportedly prompted by complaints from unsuccessful bidders in the casino licensing process, has thrust the matter into the spotlight, reported real estate news outlet The Real Deal. 

Alderman Brian Hopkins, known for his consistent criticism of former Mayor Lori Lightfoot‘s management of the casino proceedings, confirmed the existence of the federal investigation. The US attorney’s office, however, has remained tight-lipped on the matter.

Concurrently, Chicago Inspector General Deborah Witzburg is conducting a parallel investigation, adhering to her office’s policy of not commenting on ongoing inquiries. 

Bally’s maintains that it is unaware of any investigation, and the city’s Law Department has clarified that neither they nor the mayor’s office have been subpoenaed or requested to provide information.

The investigations, according to sources, were initiated months ago, suggesting a prolonged and comprehensive examination of the casino licensing process. 

This development follows earlier controversies surrounding Bally’s, including alterations to financial deals with minority investors and discrepancies in fees charged to different bidders. Reports also highlighted potential conflicts of interest with city consultants evaluating financial prospects.

City Council Greenlighted Bally’s Casino Amidst Controversies and High Hopes

Despite these controversies, Bally’s secured City Council approval with a decisive 39-5 vote. The $1.7 billion project is anticipated to alleviate the city’s unfunded public employee pension liabilities. Bally’s opened a temporary casino in September at the former Medinah Temple, with construction on the permanent site expected to commence soon, aiming for an opening in late 2026.

The casino project, viewed by some city leaders as a potential financial savior, has been on Chicago’s agenda for decades, gaining serious traction only in 2020. 

Representing the area designated for the casino, 27th Ward Alderman Walter Burnett praised the accomplishment, expressing that it was significant. He remarked that it had been a pursuit spanning three administrations and emphasized that the current mayor had successfully achieved it.

At the same time, the opening of Bally’s casino in Chicago stirred concerns among addiction treatment experts who anticipate a rise in individuals seeking help for gambling disorders. Although there hasn’t been an immediate surge in cases, experts warn that the expansion of gaming facilities historically correlates with an increase in people seeking treatment for gambling problems. 

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Better Collective, a Nasdaq Stockholm-listed company, unveiled its plans for a second listing. As announced by the company, it plans to also list its shares on Nasdaq Copenhagen.

Providing a few insights into its intentions, Better Collective informed the public that the second listing would, if approved, occur during the final quarter of the year.

Better Collective noted that the dual listing is subject to the publication of an exemption document by the company, approval by Nasdaq Copenhagen, fulfillment of certain conditions and other market conditions.

The company also noted that no offering of shares will be carried out in relation to the dual listing. The total number of company shares will remain unaffected by the listing, Better Collective added.

A Natural Next Step

Representatives addressed the announcement, elaborating on the company’s intentions. Better Collective’s co-founder and chief executive officer, Jesper Søgaard, said that the dual listing in Denmark is “a natural next step” for the Danish-incorporated company.

Søgaard noted that Better Collective has been steadily growing since the Swedish IPO in 2018, generating a lot of shareholder value. At the same time, the company continues its efforts to become a leading digital sports media group.

Combined with the fact that we experience an increased interest in our company from both current and potential institutional investors in Denmark, we believe now is the right time to dual list in Denmark.

Jesper Søgaard, co-founder & CEO, Better Collective

Jens Bager, the company’s board chairman, also commented on the matter, also remarking on Better Collective’s recent growth. According to him, the company is in a stronger position than ever before.

The listing in Sweden five years ago contributed a lot to Better Collective’s journey to becoming the leading digital sports media group. The dual listing in Denmark where Better Collective is headquartered is the logical development.

The entire management team led by the founders of the company has managed to build a resilient business and not least a strong organization that will enable Better Collective to further elevate its footprint within the digital sports media world.

Jens Bager, chair, Better Collective

Bager concluded that the company hopes to attract the interest of notable Danish investors.

In other news, Better Collective recently decided to acquire Tipsbladet.dk in a $6.9 million deal.

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Online gaming and betting leader BetMGM and Borgata Hotel Casino and Spa unveiled the launch of an exciting new omnichannel title for customers in New Jersey. As a result, Borgata Online Casino players in the state will get to play Evolution Gaming’s Dual Play Roulette, an unprecedented game where casino goers and iGaming enthusiasts can play together.

Dual Play Roulette is notably the first Evolution Dual play game to be available at an MGM property in North America. The physical table is located in an easy-to-find position on Borgata’s gaming floor. Online players can see everything that is happening on-site thanks to multiple high-definition cameras scattered around the table.

Thanks to the cameras, online players can play alongside players at the venue, blurring the line between traditional gaming and iGaming. The immersive experience provided by Evolution Dual Play Roulette allows online players to get a genuine casino experience no matter where they are. Thanks to its qualities, the title was voted Best UK Table Game Product at the British Gaming Awards.

The new game will be available to customers of BetMGM and Borgata Online Casino in New Jersey. The launch comes ahead of Borgata Hotel Casino and Spa’s 20th anniversary. The MGM Resorts-owned brand is known for its diverse selection of gambling offerings, luxurious hospitality facilities and high-quality dining options.

The brand’s online division just handed a $2.4 million jackpot to a lucky customer.

BetMGM and Borgata Are Thrilled to Launch the New Game

BetMGM’s director of online gaming, Oliver Bartlett, said that Dual Play Roulette “truly meets players where they are.” He explained that the title is an unprecedented omnichannel game that leverages new tech to connect players.

BetMGM is excited to launch Dual Play Roulette with Borgata, which has set the standard for gaming in Atlantic City for two decades.

Oliver Bartlett, director of online gaming, BetMGM

Borgata’s vice president of casino operations, James Bruno, also commented on the deal, sharing his team’s thrill about the launch. He said that the addition of Evolution Gaming’s Dual Play Roulette “marks a momentous collaboration between two industry leaders.”

We are incredibly proud to present this cutting-edge offering to our esteemed players in New Jersey. We invite players to immerse themselves in this gaming experience, where tradition meets technology, and excitement knows no limits.

James Bruno, VP of casino operations, Borgata Hotel Casino and Spa

In other news, BetMGM recently published its H1 results, highlighting an impressive performance.

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