Soo Kim, the chairman of Bally’s Corp., is confident about the future of casino gaming despite challenges in the market. In a recent interview with the Las Vegas Review-Journal, Kim expressed his optimism about the company’s prospects and defended the decision to pursue a multibillion-dollar buyout.
The $4.6 billion deal, which is pending regulatory approval, will merge Bally’s Corp. with The Queen Casino & Entertainment Inc., expanding the company’s gaming portfolio to 19 properties across 11 states. Kim, who is also the founder of hedge fund Standard General LP, emphasized his long-term vision for Bally’s and the potential for growth.
One of the key aspects of Bally’s expansion plans is its presence in Las Vegas. Currently, the company operates the Tropicana casino-hotel, which is set to be demolished to make way for a new baseball stadium and a new Bally’s resort project. Kim stressed the importance of having a presence in the gaming capital of the world and highlighted the strategic value of being in Las Vegas.
Despite criticism from skeptics about Bally’s potential, Kim remains confident in the company’s future. He pointed to recent financing deals and the progress on the Chicago casino project as evidence of Bally’s strength. Kim acknowledged the challenges but emphasized that the right project will ultimately be successful.
Regarding the Tropicana site, Kim mentioned that the original plan has evolved to include a new resort alongside the baseball stadium. While the details are still being worked out, Kim expressed optimism about the project and the future of Bally’s in Las Vegas.
GLPI executives also expressed optimism about Bally’s and the Oakland A’s development projects during a recent earnings call. Kim echoed their sentiments, highlighting the consistent messaging from Bally’s about the bright future of the company and the industry as a whole.
Overall, Kim’s confidence in Bally’s and the company’s strategic vision for growth in Las Vegas and beyond is unwavering. Despite challenges and skepticism, Kim remains positive about the future and excited for what lies ahead. For more information, you can contact David Danzis at ddanzis@reviewjournal.com or follow him on X at AC_Danzis.
