Bally's has proposed a casino in The Bronx, offering residents the chance to buy shares, thus allowing them to have a vested interest in the facility. The company promises that 1% of gross revenues, over $10 million annually, will fund community programs, such as education and health support. Additionally, Bally's operates a free shuttle service for Bronx residents. To proceed, Bally's needs state legislation to allow the land-use change from parkland to commercial for the casino.
Customers could be able to invest as little as $250 and get leverage from the Bally's Foundation, so that if the casino performs well they can make many multiples of their money.
Bally's is pledging that at least 1% of its gross revenues from the casino will go to community benefits programs in The Bronx - more than $10 million a year.
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