Breaking news about deals, development, data and more.
Bally’s Chicago
Casino includes 500-key hotel. Providence, Rhode
Island-based Bally’s Corp. announced a refreshed plan for Bally’s Chicago
Casino that will feature a 34-story, 500-key hotel in a single-phase
construction project at the 30-acre former Tribune Publishing site, pending
approval of the Chicago Department of Planning & Development. Bally’s took
possession of the building on July 5. Bally’s and Wyomissing,
Pennsylvania-based Gaming and Leisure Properties (GLPI) also entered into
a binding term sheet for a $940 million construction funding facility for the
project, along with other financing transactions, that together GLPI expects to
fund $2.07 billion to Bally’s. GLPI and Bally’s have agreed to a strategic
alliance on the project’s construction and development.
New Home2 Suites in Montana. Minneapolis-based TE
Miller Development and The Hotel Group (THG), an affiliate of Hotel
Equities, have partnered on a new 107-key Home2 Suites by Hilton in Kalispell,
Montana. The hotel recently broke ground and will be THG’s second in Montana
and the third Home2 Suites in the state.
Hard Rock opens Reverb in Europe. Orlando-based Hard Rock
International has expanded its Reverb by Hard Rock brand into Europe by
opening a location in Hamburg, Germany. The 134-key property is the second
Reverb for the company after its initial property opened in Atlanta in 2020.
MGM Shenzhen opens. The MGM Shenzhen, a
joint venture with a pair of Beijing-based companies, Diaoyutai MGM Hospitality
and Diaoyutai State Guesthouse, as well
as Las Vegas-based MGM Resorts
International, has opened. The 321-key beachside hotel is part of a pair of
hotels opening in 2024 as part of the JV, with the other being Diaoyutai Hotel
Zhuhai, which is in Guangdong’s Zhuhai, immediately next door to Macau.