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Bally Technologies have finally found its opening to exist the casino market and focus only on gaming technology.
This week Isle of Capri Casinos has agreed to purchase Bally Technologies remaining casino property in Vicksburg Mississippi for $80 million.
The Rainbow Casino and Hotel has been owned by Bally’s for the past 16 years, in 2006 they had announced that they would sell, however in 2007 those plans were put on hold.
There are currently no immediate plans to make changes at the casino, however a name change and re-branding efforts may take place over the summer.
“In the meantime, it’s business as usual,” said Jill Haynes, Isle of Capri senor director of corporate communications.
“At this point we believe Rainbow will fit into the Lady Luck brand, but a final decision has not been made,” she said. “Once the deal closes we will start a fairly slow transition.”
Isle will borrow from its existing line of credit to purchase the facility complete with 25,000 square feet of gaming space with 831 slot machines and 10 table games and an accompanying 89 room hotel.
While the sale is still pending regulatory approval, officials hope to close the deal by June 30.
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