POSITION:Betting Newspapers > News > Bally’s sold one of its Rhode Island casinos. Now, it wants more subsidies from the state.

Bally’s sold one of its Rhode Island casinos. Now, it wants more subsidies from the state.

Updated:2024-06-17 09:22    Views:201

After selling – and then leasing back – one of the two state casinos Bally’s runs for the Rhode Island Lottery, the company is now asking for more concessions from state lawmakers.

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Still unanswered are questions about Bally’s financial health following the recent downgrade of Bally’s credit rating by Moody’s Investors Services, as well as questions about the sale of the state casino in Tiverton.

The McKee administration has been unwilling, to date, to release documents that might shed further light on Bally’s initial request to sell its Rhode Island casino properties in both Lincoln in Tiverton to Gaming & Leisure Properties.

Ultimately the Tiverton casino alone was sold and leased back in January 2023 in a $625.4 million deal that included Bally’s Biloxi Hard Rock casino.