As part of the deal, Twin River has agreed to provide Caesars Entertainment a perpetual license to use the Bally's brand at its existing Bally's Las Vegas Hotel & Casino property. The deal enables Twin River to rebrand virtually all of its portfolio properties under the Bally's name and logo. Kim’s deal is for the rights to the Bally’s name across all present and future properties, and will not require Caesars to rename its Vegas Bally’s property, he said.

Today there are only two Bally’s casinos: the one in AC that Kim’s company bought for $25 million and the one in Las Vegas, which is still owned by Caesars. It generated the most gambling revenue of any Atlantic City casino in 2003, topping runner-up Trump Taj Mahal. Hilton Hotels paid $2 billion for Bally’s casinos in 1996, creating the world’s largest gaming company. It rose up under Bally Entertainment, which also ran the Six Flags amusement-park chain, Bally Total Fitness and the video game company behind some of the hottest arcade games of the 1970s and ’80s, including “Space Invaders,” “Pac-Man” and “Ms. 'This is an opportunity for us to revive a brand that is synonymous with American gaming,' said Soo, co-founder of hedge fund Standard General, which owns 39 percent of Twin River, where he is chairman.īally’s was once one of the biggest names in gaming. Twin River this week will change its ticker from TRWH to a name more reflective of Bally, Kim said, adding that the company also has plans to launch a Bally’s-branded sports-betting site. Kim’s gaming company, Twin River Worldwide Holdings, now plans to use the name to rebrand all of its holdings, including its 11 casinos and its publicly traded headquarters, the New York Post reports. Hedge-fund investor Soo Kim has become the new owner of the worldwide rights to the Bally’s Atlantic City Hotel & Casino name for $20 million from Caesars Entertainment.

'Twin River will change its ticker from TRWH to a name more reflective of Bally,' Kim said. Hedge-fund investor Soo Kim's company, Twin River Worldwide Holdings, now plans to use the name to rebrand all of its holdings, including its 11 casinos and its publicly traded headquarters.

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