Fortune Rewind

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Bally’s has been granted two years’ worth of extensions for the permanent project. State law allows for two-year temporary licences, but the Illinois Gaming Board approved an extension to three years in 2023. That pushed the deadline to this September, but Bally’s ultimately received another year’s worth of extensions through language included in the state’s omnibus revenue bill that was passed in June.

If the latest extension had not been granted, Bally’s would have had to close its temporary casino at Medinah Temple until the permanent venue was completed. That would have resulted in multiple months with no revenue in the market, but Kim told iGB at the East Coast Gaming Congress in April that a closure of the temporary site was “not the end of the world”.

Meanwhile, Bally’s is forging ahead with an even bigger project to the east, its $4 billion Bally’s Bronx resort in New York City. The company was one of three NYC licence winners last year, alongside Resorts World New York City and Hard Rock’s Metropolitan Park.

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Days after the US Senate failed to advance the CLARITY Act, the Commodity Futures Trading Commission (CFTC) has sent a new rulemaking package on crypto markets for review to the White House.

The Office of Information and Regulatory Affairs (OIRA) received the filing on September 17, which is titled “Regulation Crypto Asset Transactions and Regulation Crypto Asset Markets.” The proposal remains in the early stages, and the details are not yet public, as reported by The Block. 

The move came shortly after the Senate declined to advance the Digital Asset Market CLARITY Act. The procedural vote on September 15 rejected it with 49-50, not meeting the 60 votes required to move forward. 

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In the suit brought earlier this year, the Cantor unit accuses the two gaming companies of infringing on five of its patents and requested an undisclosed amount of financial damages.

Interactive Games was once a part of Cantor Gaming, which no longer operates. That entity was familiar with controversy, enduring allegations of money laundering and nearly losing its Nevada license in 2018. The parent company sold the business in 2019.

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