Bally's Corporation faces financial scrutiny as Moody's and another credit rating organization downgrade its rating amidst plans for significant developments in Chicago and Las Vegas, requiring billions. The downgrades, reflecting a negative outlook due to the company's high leverage and the risks associated with its ambitious expansion, come as Bally's is on the verge of the Tropicana property's closure in Las Vegas. The financial community and some Chicago aldermen have raised alarms about Bally's financial stability before these developments were approved.
Moody’s downgrades Bally’s rating | Crain's Chicago Business https://t.co/i9tg0QHeTV
I seem to recall a few aldermen raising serious concerns about Bally’s finances before Mayor Lightfoot rammed this through… Moody’s downgrades Bally’s https://t.co/neaHCQgGle
Two credit rating organizations have downgraded Bally’s Corp. just as the company is on the verge of closing its Tropicana property in Las Vegas. https://t.co/cJaPLOvzfM
People keep asking if the Trop demolition will involve an implosion. That's undecided, but Bally's Corp. is currently experiencing one. (h/t @RelvisResley) https://t.co/bpc0gmx4xR
Another downgrade for Bally's as they need billions to keep their promises to #Chicago & Las Vegas. @moodysratings: The negative outlook reflects the company's high leverage level and elevated risk associated with its planned development activities... https://t.co/pDLnOfzh4n https://t.co/fxoY0apIzC