Key Takeaways
The Bally's conference call today never mentioned their planned State College casino near Penn State University. On the Ballys.com website, look at the "About Bally's Corporation" portion of each Bally's news release posted there. They proudly mention Bally's is planning for "a land-based casino NEAR the Nittany Mall in State College, PA." Actually, Bally's first land-based casino in Pennsylvania is not planned to be NEAR the Nittany Mall. It will be located in a vacant former Macy's department store INSIDE that mall. Be sure to factor in the estimated $120 million price tag for that State College casino, especially during the continuing financial struggle Bally's is now experiencing. Can they still afford any new casino project? At least some of the necessary infrastructure in State College is already in place thanks to the builders of that old Macy's store. There will be no ground-breaking ceremony in Happy Valley until the Pennsylvania Supreme Court decides whether or not to authorize the actual issuance of that casino's license that has been tied up in litigation for nearly three years now. The next questions for the media to ask Soo Kim should be about his yet-to-be-heard pledge for Bally's to see the State College, PA casino ribbon-cutting plans through to completion. Then ask who owns that former Macy's department store right now? What if that specific property owner changes their mind now about that planned Bally's casino? Who signed what, when, and why? There remains no done deal on the horizon for a Bally's casino in Pennsylvania. That is why it was never mentioned today.
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