It has been announced today that Bally’s Corporation has completed the purchase of MontBleu Resort Casino and Spa from Caesars Entertainment following the announcement of acquisition.
MontBleu, which has had a number of rebrands over the years, including Park Tahoe and Caesars Tahoe, offers customers the chance to play over 400 slot machines on its casino floor, along with almost twenty casino table games, including three-card poker, craps, blackjack and roulette.
The venue also boasts a unique and thrilling gaming area known as The Party Pit, which is part of The Zone sports-bar and sportsbook for fans to enjoy live sporting events on TV.
This acquisition has been on the cards for some time and one that Bally’s is pleased to complete.
The property will further enhance the new owner’s brand and will suits its current roadmap of growth and diversification strategy.
According to reports, with the plans and investment from Bally’s, MontBleu is expected to receive increased coverage and will attract customers from all over the US travelling to Lake Tahoe.
Additionally, the venue has a large convention and exhibition space and will be used as part of its strategy to attract a diverse range of clients.
President and Chief Executive Officer of Bally’s Corporation George Papanier spoke about the acquisition completion and what it means for the company going forward:
MontBleu is a premier entertainment asset that is commensurate with the iconic Bally’s brand, and advances our ongoing portfolio diversification strategy.
With the close of this transaction, we look forward to integrating the property into the Bally’s family, and utilizing it as an attractive destination for our loyal Bally’s customers to drive visitation to Lake Tahoe.
Chief executive officer of of Caesars Entertainment Tom Reeg also shared comments on the news:
I want to thank the Team Members of MontBleu for all of their hard work and dedication throughout the years with the Caesars organization, particularly during the COVID-19 pandemic.
We wish all of them continued success under Bally’s ownership.