What about Community Benefits?

Bally’s has announced a groundbreaking Community Benefits Agreement (CBA) as part of its bid to bring a world-class casino and entertainment destination to The Bronx. The proposal includes an industry-first community investment program, allowing Bronx residents to own a share of the casino, as well as over $200 million in community investments, 15,000 construction jobs, and more than 4,000 permanent jobs for local residents. Bally’s plans to build a 200,000-square-foot casino, a 500-room hotel with a spa, a 2,000-seat event center, and additional retail and dining options, making it the largest private investment in The Bronx’s history

Bally’s total community benefit package will provide $625 million in net present value, before including the value of direct project investment and community investment opportunities. Bally’s CBA is designed to directly benefit the community through equity participation, job creation, local sourcing, and investments in public services. Highlights include:

Community Equity Participation – Bronx residents will have the opportunity to invest in the casino, modeled after Bally’s Chicago project, with an expected community ownership stake of up to 9%. Investments start at $250, with leverage from Bally’s to maximize returns.
Job Creation & Workforce Development – The project will generate 15,000 construction jobs and more than 4,000 permanent jobs, with priority hiring for Bronx residents. Bally’s will also launch a Pre-Apprenticeship and Workforce Development Program to prepare local residents for careers in gaming, hospitality, and entertainment.
$200M+ in Community Benefits – Bally’s pledges at least 1% of net gaming revenue or 3% of net profits (with a minimum of $10 million per annum) to support the Bronx through:

● PTA & School Funds
● NYCHA Housing Fund
● Community Housing Initiatives
● Mental Health & Substance Abuse Programs
● BronxNet Community Media Fund

For more information please reference:

Bronx Times
News12