Bally’s Selects New Chief Legal Officer
Author:
Muhammad Gregory
Renowned casino and sportsbook provider Bally’s Corporation has revealed that it has appointed Kim Barker Lee as its latest executive vice president and chief legal officer. As part of her new role, Lee will spearhead Bally’s legal and public affairs teams and assist the operator’s continued global strategic initiatives. Lee arrives at Bally’s from International Game Technology (IGT).
Bally’s Corporation has revealed that it has appointed Kim Barker Lee as its latest executive vice president and chief legal officer, with Lee having most recently spent time at International Game Technology (IGT). ©juergen-polle/Pixabay
Lee Was Formerly Vice President of Diversity and Inclusion at IGT
The widely popular Bally’s Corporation has revealed that it has appointed Kim Barker Lee as its latest executive vice president and chief legal officer. As part of this new role, Lee will direct Bally’s many legal and public affairs teams, as well as provide support to the operator’s continued global strategic initiatives.
Kim Barker Lee arrives at Bally’s most recently from time spent at International Game Technology (IGT), where she acted as vice president of diversity and inclusion for upwards of five years.
Before her five-year stint at International Game Technology (IGT), she served general counsel and vice president for legal and regulatory compliance at the Northstar Lottery Group for an impressive seven years, while also spending some time as general counsel of the Illinois Student Assistance Commission.
Lee’s Appointment Comes at Highly Exciting Time for Bally’s
Speaking on the occasion of her arrival at major casino and sportsbook operator Bally’s Corporation, Kim Barker Lee claimed she was hopping on board at a fortuitous time for the provider, highlighting her own time spent in the gaming industry as a vital asset for Bally’s operations moving forward:
“I’m pleased to be joining Bally’s during such an exciting time; the opportunities for growth are significant as the company advances its transformation into a global omni-channel gaming leader. I’ve spent much of my career deploying leadership and operational strategies in the lottery and gaming space, so I understand how the industry works and the challenges that must be overcome. I look forward to this next chapter and to playing a part in Bally’s continued success.”– Kim Barker Lee, Chief Legal Officer, Bally’s Corporation, Press Release
Meanwhile, Bally’s chief executive Lee Fenton added that the company was very pleased to be bringing Lee on board, while also emphasizing the importance of her industry experience, even in certain key markets important to the operator:
“We are excited to welcome Kim to Bally’s and are confident that she will make an excellent addition to our global leadership team. The depth and breadth of Kim’s legal expertise, especially in gaming and lottery, will be instrumental as the company continues to expand and evolve during this period of significant growth. Additionally, her strong network and understanding of our key markets, including Rhode Island and Illinois, is particularly valuable as we explore new opportunities in the jurisdictions in which we conduct business.”– Lee Fenton, Chief Executive, Bally’s Corporation, Press Release
Bally’s Bought Plot for its Major Chicago Complex in November 2022
In other recent Bally’s news, the corporation recently closed a major deal in November 2022 worth upwards of an impressive $500 million (£423.3m/€488.1m) with a real estate private equity firm in Chicago in order to purchase the 30-acre Tribune Publishing Center site where the large Bally’s Chicago will be located.
The agreement specifies an initial 99-year term, followed by ten separate 20-year renewals. In what is probably a nice degree of flexibility available to Bally’s, the deal also stipulates that the operator will have the ability to lease back the land from the real estate firm in a ground lease agreement.
Chair of Bally’s board of directors, Soo Kim, warmly welcomed the deal, promising Bally’s fans that a top of the line betting complex will be awaiting them in Chicago:
“We are excited to be partnering with one of Chicago’s leading real estate private equity firm as we progress with building our $1.7bn flagship property in the Chicago market. We continue to demonstrate our commitment to delivering a world class entertainment facility that supports Chicago’s economy and community.”– Soo Kim, Chair, Bally’s Board of Directors, Press Release
Meanwhile, Bobby Lavan, Bally’s chief financial officer, said that the company now officially has sufficient liquidity for the Bally’s Chicago project following the deal with the private equity firm:
“This transaction is an important step in our development plan for Bally’s Chicago as we continue to work towards opening the temporary casino in mid-2023. With this new real estate partnership, Bally’s has ample liquidity on hand to fund Bally’s Chicago without needing to access the capital markets.”– Bobby Lavan, Chief Financial Officer, Bally’s Corporation, Press Release
IGT Won Lottery Supplier of the Year Award in August 2022
International Game Technology (IGT), where Bally’s new chief legal officer Kim Barker Lee used to work, announced in August 2022 that it was awarded the celebrated title of Lottery Supplier of the Year at the 2022 SBC Awards North America, which took place in New York City, New York.
Chief Operating Officer of Global Lottery over at International Game Technology (IGT), Jay Gendron, attributed the prize to the prominent position IGT has occupied in the industry in recent years:
“As the leader in global lottery for more than 40 years, winning ‘Lottery Supplier of the Year’ is a testament to IGT’s pioneering values and commitment to providing best-in-class solutions that drive sales growth for our customers while maximizing contributions to good causes.”
