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About 5 Burning Heart
With such a significant rise in tax, you would forgive the company for cutting wherever possible, but Petra says they have made it work by maximising efficiency, restructuring, and maintaining their offering so the customer doesn’t notice that anything has changed.
“We feel that people are always interested in gambling and that we are the party who should offer that in a safe way. [Holland Casino] has been careful to maintain that, but of course our costs rose very quickly, so we restructured at our head office. We have also been looking at innovations in offerings, which we are currently also testing, including a further development of the Next Zone. We’ve also introduced the double zero in roulette, which we didn’t have previously in the Netherlands,” the CEO says.
“Obviously, in the gaming industry we don’t have a price tag on our product where you can just change the RTP (return-to-player) and your problem is solved, it doesn’t work like that. Especially not if you take responsible gaming seriously.”
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Kim said the purpose of convening the call was to “reiterate our deep commitment to Bally’s Chicago” and to address “inaccurate reports” from the press saying that construction had stopped or slowed after the update that was released in early August.
“Construction continues every day, and there are approximately 1,000 skilled tradespeople working on the construction of the permanent Bally’s Chicago resort,” Kim said.
The casino remains on track for an early 2027 opening, Kim asserted, but the company changed how it is “sequencing certain elements of the development”. Kim said that Bally’s was actually “over-delivering” on its commitments to the city and reset the construction timeline to better align with its Host Community Agreement. In addition, he noted that the company would soon be arranging tours of the construction site with investors and shareholders.
About 5 Burning Heart
Angelozzi is set to serve as the combined company’s chairman and CEO, while Lottomatica’s deputy CEO and CFO Laurence Van Lancker will assume the same role.
Hostench and Cirsa CFO Antonio Grau will also continue to lead the teams at Cirsa.
Following the deal’s completion and approval by Lottomatica’s general shareholder’s meeting, the combined company’s board would consist of the existing 11 Lottomatica directors, as well as two new directors nominated upon designation by Blackstone.
