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Bally’s to let Richmond residents acquire equity in proposed resort


Casino operator Bally’s Corporation has announced that it will provide the opportunity for all residents of Richmond, Virginia to purchase an equity interest in the proposed Bally’s Richmond Casino Resort.

Richmond-based entrepreneur David Walton will partner with Bally’s to roll out the program and provide assistance to generate awareness of the crowdfunding initiative. Walton is founder and chief executive of group buying business Rendevu and search engine for African-American-owned businesses Black Pages.

“Bally’s has promised that its casino proposal will be a community-focused project that places Richmond first, and the equity crowdfunding program represents one way for Bally’s to live up to that promise,” said Walton.

“The purpose of the program is to allow all Richmond residents, not just those who may be more fortunate, the opportunity to invest in Bally’s Richmond, and I look forward to working with Bally’s and supporting that effort.”

Michael Monty, senior project manager of Bally’sRichmond, added: “During our recent engagements with the RVA community, we had the fortunate opportunity to inform thousands of Richmonders about Bally’s Richmond.”

“Once Richmonders better understood the proposal, many expressed interest in becoming a part of it. By allowing Richmond residents to own a part of Bally’s Richmond, we are further demonstrating our dedication and commitment to RVA and this project.”

In March, the City of Richmond mayor’s office announced the three finalists of the bid for a resort casino development.

Bally’s was named alongside Live! Casino & Hotel Richmond, and One Casino + Resort, as one of the finalists to begin negotiations with the City Council’s Evaluation Panel.

Prior to that announcement, Bally’s agreed terms on a merger with the board of Gamesys Group, that would see the operator acquire Gamesys in a deal worth £2bn ($2.74bn/€2.31bn).