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    Colin Mansfield • CBRE Institutional Research

    Colin Mansfield's questions to Bally's Corp (BALY) leadership

    Colin Mansfield's questions to Bally's Corp (BALY) leadership • Q2 2024

    Question

    Colin Mansfield of CBRE Institutional Research inquired about the approval timeline for the new Chicago casino design and any potential risks to the September 2026 opening date. He also asked a modeling question about the amount of restricted cash held at the Chicago subsidiary.

    Answer

    President George Papanier expressed confidence in the September 2026 opening, stating that while the new design requires city approval, the company is proceeding with parallel activities like ordering long-lead materials to maintain the schedule. He also clarified that of the $171 million in restricted cash at quarter-end, $58 million was released shortly after for a payment to the Tribune, reducing the effective balance.

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    Colin Mansfield's questions to Las Vegas Sands Corp (LVS) leadership

    Colin Mansfield's questions to Las Vegas Sands Corp (LVS) leadership • Q1 2024

    Question

    Colin Mansfield inquired about the rationale for Sands China repaying its parent company loan and asked about the company's strategy for upcoming debt refinancings at both the LVS and SCL levels.

    Answer

    President and COO Patrick Dumont explained that the SCL Board decided to repay the loan because the subsidiary is performing strongly, has low leverage, and wanted to eliminate negative carry on its cash. Regarding refinancing, Dumont stated they will address the 2025 LVS bonds in the near term and have multiple flexible options for the SCL maturity, including their revolver, a new term loan, or accessing the high-grade credit markets.

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