Bally’s name will still be there along with its logo on its Atlantic City casino. The decision to retain the well-known and regarded branding was made by Twin River Worldwide Holdings in a recent announcement.
Caesars Entertainment Inc. previously owned the brand and now with the new purchase by Twin River Worldwide, the latter’s properties will continue to bear the name.
No information was forthcoming on the financial terms, but we do know that Soo Kim, a hedge-fund investor and Twin River owner paid a whopping $20 million for the brand rights.
In addition, last April, Twin River purchased Bally’s Atlantic City for $25 million. The deal should come to fruition at the end of the year. The arrangement allows Caesars Entertainment to retain the naming rights to its Bally’s Las Vegas Hotel & Casino.
Of note, nine other casinos are in Twin River’s property portfolio — two in Rhode Island, two in Mississippi, one in Delaware, one in Missouri and three casinos and a horse racetrack in Colorado.