Posted on 01/27/2025 10:12:16 AM PST by DUMBGRUNT
Bally’s, the big casino operator, is selling shares only to women and minorities in its new gambling resort mecca being built in Chicago’s River West neighborhood. A minority preference of some kind was a condition to city approval of the project, and this is what the city and Bally’s agreed to.
Here’s the deal that’s offered, which is detailed in the company’s S-1 filing with the Securities Exchange Commission and other company materials: Instead of just buying one share for $25,000, a buyer can put up as little as $250 and Bally’s will loan you the remainder of the purchase price. You thus buy an “Interest,” as it’s called in the offering documents.
The Interests are subject to extensive transfer restrictions and won’t, at least initially, be traded on any public exchange, so “you may find it difficult to sell your Class A Interests,” as the S-1 mildly puts it.
(Excerpt) Read more at wirepoints.org ...
... unless Soros bought the judge.
I’ll bet Bally’s has no problem calling white guys to repair their machines, design and construct the buildings, and monitor the finances.
—”thank you to Bally’s and the City of Chicago for excluding me from this scam.”
The story is far worse than could be imagined.
I live in a far-off suburban area and see many articles about Chiraq’s BIG MONEY maker.
The temp casino is in the former Shriners temple.
“In 2023, city tax revenue from the casino reached just 25% of what city officials had projected, according to the report. In 2024, the casino’s first full year of operations, the casino brought in 47% of what officials expected in taxes for the city, according to the report.”
The clientele are what most would expect and not big spenders.
Everyone knows the winners and can follow them home...
I would not go there in a Bradly IFV with close air support!
Also, another new casino recently opened in a south suburb and is doing well.
No BAD NEWS here!!
White women and blacks won’t take 3 seconds to read the fine print.
It’s a SUCKER DEAL if there ever was one.
Also, white folks like myself who like casinos will never enter such a place....good strategy! :)
Drunk minorities will lose their work/welfare checks in there. That’s about it.
—”Think of a stinking, dead albatross tied to your neck”...
Unlike the Ancient Mariner, there is no escape from the stink of this “deal.”
“It’s clearly discriminatory and illegal, but......no intelligent white male would go near that scam.”
No, but because it excludes “whitey”... the incentive to invest in it will be of very high interest to the low-IQ minorities that never fail to vote D... and the suckers will reap what their bigotry has sown. Karma?
—”Restricting stock purchase on sex and race is a blatant violation of the Civil Rights Bill.”
Not to worry!
Chicago cannot meet daily operating expenses, much less pay for their many mistakes.
Once upon a time, they could have used income from the many parking meters to cover the debt.
NEVERMORE!
“Every time a Chicagoan pays for parking an investor says, “ca-ching!”
“ the creatively named Chicago Parking Meters LLC — agreed to cough up $1 billion and change for a 75-year lease, and Chicago City Council rubber-stamped the plan faster than members could read the terms of the deal.”
{”With some 60 years left on its lease, Chicago Park Meters LLC has already made back its initial investment — and then some!
“An impressive return on investment for them, and a tough break for Chicagoans.”
https://news.wttw.com/2023/07/27/wttw-news-explains-what-happened-chicago-s-parking-meter-deal
Chicago tollway, same, same.
How about some nice lakefront property?
Sold to 0bama for his summer palace.
Sorry
—”I’ll bet Bally’s has no problem calling white guys to repair their machines, design and construct the buildings, and monitor the finances.”
Sorry to disappoint, but...
There is an unending list of requirements for contractors, subcontractors, investors...
Minority group, verified City of Chicago address, current union membership, verified address within the impacted neighborhood...
Once upon a time, and long ago, I was at a City of Chicago meeting to review a contract we had been awarded.
A senior city official starts pointing out the neighborhood workers’ requirements.
My Director quickly says NO PROBLEM, we need the names and they have to fill out the employment forms before starting.
About half are good workers, the rest are mailed a check each week. A few stay on with the company until their “Chinaman” calls with another job.
They are lending them money - so they can steal it back at a later date when they can add legal fees and file liens
Wouldn’t be surprised if some woke pension fund bought in
That really sucks!
Almost sounds like gambling.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.