During a public hearing before the New Jersey Casino Control Commission on Wednesday, Executives with Twin River Worldwide Holdings committed to a significant capital expenditure program for its newly acquired Bally’s Atlantic City casino.
Company officials said they plan to make the 41-year-old property "more attractive and competitive in the Atlantic City market," over the next five years.
"We want to make sure Bally’s is competitive again and return it to its former glory," said Marc Crisafulli, executive vice president of strategic development and government relations for Twin River. "We’re committed to making it a signature property again, right at the center of the Boardwalk. ... We know it’s going to take a lot of time, effort, and investment."
Twin River is seeking interim casino authorization — a preliminary regulatory step before full casino licensure — to operate Bally’s, the Press of Atlantic City reports. The Casino Control Commission will resume hearings Thursday.
Rhode Island-based Twin River — which will officially change its corporate name to Bally’s on Nov. 9 — agreed to purchase the casino hotel from Caesars Entertainment Inc. and VICI Properties for $25 million.
In discussing plans for capital improvements at Bally’s, the company’s executives highlighted several key areas, including a permanent sportsbook — in partnership with FanDuel — that will be completed by March, renovating more than 900 hotel rooms, creating 30 to 40 mini-suites, and introducing an entirely new restaurant and bar portfolio that will be operational by summer.