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Bally’s is making all kinds of news right now

A gambler played an electronic game at Bally's Twin River Casino in Lincoln, R.I.Gretchen Ertl/The Boston Globe

Bally’s was the talk of the gambling world on Monday, and it had nothing to do with the Super Bowl.

The Rhode Island-based casino giant announced that CEO Lee Fenton is departing after less than 18 months on the job, and he is being replaced by Bally’s Interactive President Robeson Reeves. The company, which owns 15 casinos in 10 states, also reported that fourth-quarter revenue was slightly better than expected, even though it lost $477 million during the final three months of 2022.

The publicly traded company bought Gamesys Group for $2.8 billion in 2021, part of an effort boost its online casino platforms. But it announced last month that it would cut up to 15 percent of the Bally’s Interactive staff after posting subpar North American results.


Separate from the CEO news, Bally’s confirmed that it wants to build a $2.5 billion casino in the Bronx next to the Trump Golf Links at Ferry Point, a converted garbage dump. The New York Times reported that Bally’s is considering stripping the former president’s name from the golf course if it wins one of three new casino licenses made available in that state.

Bally’s is already in the process of building a $1.7 billion casino resort in Chicago.

The company made a splash in 2020 when it acquired the naming rights for Diamond Broadcast Group, a Sinclair subsidiary that owns regional sports networks across the country. The company is expected to miss a large interest payment this week, and could file for bankruptcy.

Bally’s said on Monday that it has no liability related to Diamond’s debt, and will continue to own the naming rights to those sports networks if a new management team is put in place.

Bally’s closed the day trading at $19.51 a share, up more than 2 percent since Friday.


This story first appeared in Rhode Map, our free newsletter about Rhode Island that also contains information about local events, data about the coronavirus in the state, and more. If you’d like to receive it via e-mail Monday through Friday, you can sign up here.

Dan McGowan can be reached at dan.mcgowan@globe.com. Follow him on Twitter at @danmcgowan.