PSA: For any community where @BallysCorp shows up. Because of their terrible execution a broke City of #Chicago is essentially subsidizing a #casino owned by a billionaire. Taxpayers likely on the hook for $18.6 million in '24 & $19.6 million in '25. You've been warned.

No wonder Bally's debt holders are fighting. Cash levels down, debt levels skyrocketing: $393 Million on credit card $500 Million due in '28 at 11% $750 Million due in '29 $735 Million due in '31 Cash on hand $160 million. Of all the partners Chicago could have picked...

Bally's is the king of the backroom deal, but why are they getting more added to their plate? They don't have a sportsbook b/c their owner has a royalty agreement w/ Draftkings. Their temporary is faltering & debt holders are revolting. 🤷🏽‍♂️ @RobertChannick's @chicagotribune:

A Bally's bar at Midway without gambling, is so on brand for this debacle of a partnership. Gambling in an airport terminal will not solve city budget woes. Also why @SouthwestAir & @fly2midway, but not @fly2ohare? https://t.co/zlizv8ldK4

Soo Kim discount, more like Soo Kim migraines. Shareholders, debt holders, and communities across America are left wondering how they got bamboozled in the first place.

Bally's owes billions across the globe & lenders are getting frustrated. The company wants to pledge its Chicago property to some debt holders, who say thanks but no thanks. Asking for a friend, how many mortgages can an under construction casino have? https://t.co/XwhQHLUQQl

"Bally’s Corp. is in a standoff with its lenders, a battle that could have consequences for the junk-rated casino operator and Chicago’s underfunded pension plans." Too much debt, not enough cash. Bally’s Chicago, Inc. had an accumulated deficit of $860 million as of June 2025.

Bally's Chicago continues to limp around in the market. Remember when Soo Kim told @mitchtrout & @Suntimes they were going to start "eating a lot of people’s lunches," maybe Bally's is on a diet. Hard Rock Rockford & Wind Creek continue to do considerably better than Bally's.

Remember that time Chicago City Hall paid conflicted bankers at Nomura $1.5 million of taxpayer money to "solicit" Bally's to come to Chicago? Wish they would have hired @VitalVegas who doesn't mess around with background checks & due diligence. Read: https://t.co/YdMU8EX93M

Bally's can issue fancy renderings of a resort on the Vegas strip, but their house of cards will soon collapse. According to SEC-filed quarterly report, Bally's lost ~$30 million last quarter operating in Chicago. Accumulated deficit = $860.6 million https://t.co/4xVgrwjoEU

The saturation of gambling to support $1.2 billion in video slots generating $60 million in city taxes - assuming 2 million adults, is $600 annually per adult. Reality check: Cook County gets 2% of every sports wager in the county & that generated $12.6 million in '24.

Absurd math is how we got saddled with Bally's, so let's be real. Officials stating that video gambling will generate at least $60 million require residents to lose $1.2 billion at slots in the neighborhoods, not to mention the casino. @jus10chi @JakeSheridan_ @mitchtrout

Bally's Chicago is remarkably consistent; unfortunately, for taxpayers, it is consistently bad. The property had its best month of admissions ever, & it's still nothing. Lightfoot & Bally's promised $36 million in tax revenue in '25... through Aug., the total is $9.7 million.

This analysis from @iGamingBusiness is🔥: "The Rhode Island-based company is a corporate entity cobbled together in such a way that Doctor Frankenstein himself might have second thoughts. It is financially stretched tighter than a snare drum..." https://t.co/w5RA2jvAot

What Bally's told @RobertChannick isn't allowed by law & is the opposite of what they just told IPO investors: "Kim indicated construction delays may push the opening date back a few months, suggesting the fourth quarter of 2026 as a revised target." https://t.co/aIoagP4bQS

Remember all the hoopla about how Bally's was going to create generational wealth for every day Chicago citizens? Another broken Soo Kim promise. 82% of the funds raised were from "Accredited Investors," via "Private Placement."

What an embarrassment, Bally's was only able to sell 154 A-4 shares for its Chicago project! The public knows Bally's Chicago is a sinking ship. Raising just $5.5 million from retail investors despite all the expense & attention of the IPO is a sign of no confidence.

1,573 “Illinois based shareholders” just gave Bally's between $250 to $25,000 for shares. Contrary to Bally's PR, the IPO docs say all funds are being sent to corporate coffers to pay off intra-company loans. These "investors" won't get a dime back. https://t.co/FJDnjuNdZd

In July, Bally's had their 3rd best month of admissions ever and had the 3rd lowest revenue per guest in Illinois. Because they are not a top-tier operator, they can cram 'em in, but they can't produce revenue to sustain their operations or generate meaningful tax revenue.

Bally's disclosed their corporate net debt increased by $262 million in the first half of the year. Their Chicago operation is a cash incinerator. They lose millions every month operating the only legal gambling location in America's 3rd largest city. From their IPO's S-1:

Bally's "earnings" have been released, but they don't share net income or expenses, only revenues. Balance sheet: Long-term net debt up another $262 million since year end - including: $500 million due in 2028 at 11%! $250 million taken out on a revolving credit loan