Bally's and Ira Lubert to form a $120m joint venture.

Bally's, a firm that owns and manages hotels that offers amenities such as casinos, retail outlets, sports bars, pubs and dining, and Ira Lubert, a real estate and private equity investor, are set to form a $120m joint venture, a Category 4 licensed casino. "Expanding our rapidly growing, national footprint into the attractive Pennsylvania gaming market represents yet another major milestone for Bally's and a great way to cap off a truly extraordinary year. Regional, land-based casinos remain the cornerstone of our portfolio diversification strategy, providing the necessary support for the growth, development and success of our future sports betting and iGaming initiatives. We look forward to combining our own proven track record of greenfield development with Ira Lubert's local knowledge and expertise to bring Bally's first-in-class gaming experience and amenities to customers and sports fans across Pennsylvania," George Papanier, Bally's President and CEO.