Chicago casino settles lawsuit after being accused of barring White men from investing in the business
Bally's Chicago, which is projected to be Illinois' biggest casino with a 500-room hotel tower and 3,000-seat theater, was accused of excluding White males from its $250 million IPO as part of its Host Community Agreement with the City of Chicago.
The $1.7 billion casino and resort, set to open in 2026, faced a lawsuit launched by the Wisconsin Institute for Law and Liberty on behalf of two White male investors and the American Alliance for Equal Rights (AAER).
Exclusive: Group Launches Tip Line For Dod Employees To Report Dei, 'Woke' Overreach
The casino committed to 25% minority and women ownership as part of the community agreement, which was drafted as part of a 2019 Illinois state law expanding gambling in the state. In order to take part in the IPO, an investor would have had to meet its "Class A Qualification Criteria," which stated that an investor must be a "minority or woman."
Bally's accepted deposits from 1,500 investors starting in December, but wound up refunding them in February because the SEC had yet to approve of the IPO, the Chicago Sun Times reported. In April, the casino dropped the controversial provisions from the IPO, but stated they preferred investors to be from the Chicago area.
Read On The Fox News App
JOHNSON & JOHNSON DENIES ENGAGING IN ILLEGAL DEI PRACTICES AFTER GROUP MAKES CIVIL RIGHTS COMPLAINT
WILL, which represented investors Richard Fisher and Phillip Aronoff in their case, alleged that Bally's was in violation of the Civil Rights Act of 1866, which bars racial discrimination in contracts, the first Ku Klux Klan Act and years of Supreme Court precedent. The conservative legal group is now celebrating the settlement with the casino.
"This is a great win for equality. Bally's Casino in Chicago, the city of Chicago, the state of Illinois had all agreed that they were going to open a new casino in Chicago and only allow minorities and women to own 25% of the casino as part of an investment. And Bally has now dropped that requirement. They filed papers with the SEC stating that the investment will now be open to everybody. And we think that's a great win for equality and we're very happy with this result," WILL's managing vice president Dan Lennington told Fox News Digital.
Patrick Callahan, 39, a Chicago attorney who had been prevented from investing in the casino, was pleased with the settlement, but voiced a note of caution about the future of his city.
"Under current state and local leadership, it's hard to be too optimistic that Chicago will suddenly become a bastion of nondiscrimination. That being said, this is a big victory and I'm hoping to see many more of them," Callahan said.
Fox News Digital reached out to Bally's, the Chicago mayor's office and the Illinois Gaming Commission for comment.Original article source: Chicago casino settles lawsuit after being accused of barring White men from investing in the business
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
XRP Bull Flag Points to $8 as Ripple-SEC Case Reaches End
XRP smashed resistance barriers as trading volume hit 300 million during peak institutional buying surge, with bullish chart patterns and a landmark legal resolution fueling upside rally combines technical breakout pressure with a significant shift in the token's fundamental narrative. The SEC settlement eliminates a multi-year litigation drag, potentially unlocking greater institutional participation in U.S. markets. Price action shows heavy accumulation above $3.10, followed by consolidation above $3.30 — suggesting strong conviction among buyers even after the initial spike. The ETF filing from SBI adds a parallel demand driver, positioning XRP for higher beta moves if spot Bitcoin ETF inflows continue. Technical Analysis Overview XRP explodes 11% higher in the 24-hour period ending August 8, rocketing from $2.99 to $3.30 in a blistering rally. The digital asset accelerates most aggressively between 19:00-22:00, obliterating multiple resistance levels. Trading volume erupts past 300 million at 21:00 alone. The session spans a $0.35 range, marking 12% volatility from $2.97 lows to $3.33 peaks. New resistance forms at $3.33. Strong demand emerges above $3.10 in the session's final hours. News Background The Securities and Exchange Commission and Ripple Labs have jointly ended their appeals in the high-profile XRP lawsuit, concluding a multi-year legal battle that has clouded the token's outlook since 2020. In a Thursday filing, the Second Circuit Appeals Court recognized the dismissal, with both sides agreeing to bear their own costs and fees. 'Following the Commission's vote today, the SEC and Ripple formally filed directly with the Second Circuit to dismiss their appeals,' Ripple's chief legal officer Stuart Alderoty said on X. The resolution removes a major regulatory overhang for XRP, coming alongside other bullish developments such as Japan's SBI Holdings filing to launch a Bitcoin-XRP ETF. Price Action Summary • XRP surges 11% from August 7 01:00 to August 8 00:00, blasting from $2.99 to $3.30 on explosive 300 million volume• Token consolidates in tight $0.04 band between $3.30-$3.33 during August 7 23:42 to August 8 00:41 window• Bull flag formations point to $8.00-$15.00 breakout targets as legal resolution clears path for institutional entry Technical Indicators Analysis • Volume explodes past 300 million at 21:00, signaling heavy institutional accumulation• Bull flag formations point to $8.00-$15.00 breakout targets over longer horizons• Fresh resistance locks in at $3.33 with volume confirmation• Key support zone holds firm above $3.30 during consolidation• Evening hours see multiple resistance breaks between 19:00-22:00• Volume-backed demand materializes above $3.10 in session's back half What Traders Are Watching • Follow-through buying from U.S. institutions now that litigation risk has cleared• ETF approval timelines in Japan and potential filings in other markets• Retest of $3.33 resistance and possible breakout toward $3.65 near-term target• Retail re-engagement after legal victory headlines Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 hours ago
- Yahoo
SEC's Long-Running Case Against Ripple Officially Over
The U.S. Securities and Exchange Commission's 2020 lawsuit against Ripple Labs is officially over, after the two parties informed the Second Circuit Court of Appeals that they were voluntarily dismissing their respective appeals of a 2023 ruling in the case. The SEC and Ripple will each bear their own costs, the filing said on Thursday. The joint stipulation ends the legal battle between the SEC and Ripple which began in 2020 after the SEC sued Ripple in 2020 under former Chair Jay Clayton (who now runs the U.S. Attorney's Office for the Southern District of New York) alleging it violated securities laws through the sale of XRP, the token closely associated with the company. XRP jumped 5% after Thursday's filing, trading around $3.27 as of press time. The SEC filed an appeal in 2024 after a district judge's ruling in 2023 said that Ripple making XRP available to retail traders through exchanges, while Ripple cross-appealed to maintain its arguments in the case. The parties agreed to drop their respective appeals in June, Ripple CEO Brad Garlinghouse said at the time, leaving District Judge Analisa Torres' penalties in place. These penalties were tied to her finding that Ripple had violated securities laws in selling XRP to institutional traders, and included $125 million in fines and a permanent injunction against further violations of the law. Ripple and the SEC paused their appeals earlier this year after Donald Trump retook office as U.S. president and installed new leadership at the agency. The SEC has dropped over a dozen cases and investigations into crypto companies in the last few months. The parties attempted to negotiate these penalties down, but multiple attempts were rejected by Judge Torres over procedural and other concerns.
Yahoo
5 hours ago
- Yahoo
SEC and Ripple case is officially over
SEC and Ripple case is officially over originally appeared on TheStreet. The years-long legal battle between the SEC and Ripple Labs is finally over. A new court filing dated August 7 shows that the U.S. Securities and Exchange Commission and Ripple Labs have both agreed to dismiss their appeals, officially ending one of the most closely watched crypto lawsuits in history. The filing officially ends the case. No further penalties or legal battles are expected 'All parties and counsel of record were served with copies of the foregoing document on the same date through the Court's ACMS system.' In a joint stipulation of dismissal filed with the U.S. Court of Appeals for the Second Circuit, both parties wrote: 'The Securities and Exchange Commission ('Commission'), Appellant-Cross-Appellee, Ripple Labs, Inc. ('Ripple'), Appellee-Cross-Appellant, Bradley Garlinghouse, Appellee, and Christian A. Larsen, Appellee, jointly stipulate to the dismissal of the Commission's appeal (No. 24-2648), and Ripple's cross-appeal (No. 24-2705), with each party to bear its own costs and fees.' The stipulation includes signatures from both sides' legal teams and was filed electronically through the Court's ACMS system by SEC appellate counsel Ezekiel L. marks the final chapter in a nearly four-year-long case that shook the crypto industry. How it started The SEC first sued Ripple Labs and two of its top executives, Brad Garlinghouse and Chris Larsen, on December 22, 2020, alleging the company conducted an unregistered securities offering by selling XRP. Ripple immediately pushed back, arguing XRP is a digital currency, not a security — and that the SEC failed to give fair notice that its token was in violation of securities laws. The case quickly became a battleground for the future of crypto regulation in the U.S., with Ripple gaining major community support and legal turning point In July 2023, U.S. District Judge Analisa Torres ruled that Ripple's programmatic sales of XRP on crypto exchanges did not constitute securities transactions — a landmark decision seen as a partial victory for Ripple. However, the court did find Ripple had violated securities laws in its direct institutional sales, allowing the SEC to proceed with further actions. This led to a back-and-forth over remedies and penalties, and the SEC soon filed an appeal — which Ripple responded to with a cross-appeal of its own. At the time of writing, XRP is up 9% in the last 24 hours, per Kraken's price feeds. SEC and Ripple case is officially over first appeared on TheStreet on Aug 7, 2025 This story was originally reported by TheStreet on Aug 7, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
