Bally’s Corporation is changing finance chiefs as the casino company pours money into major developments, deals with financial pressure and fights over video gambling terminals in Chicago.
Mira Mircheva told Bally’s she plans to leave her jobs as executive vice president and chief financial officer for personal reasons, according to the company’s Thursday announcement. Her resignation becomes effective September 4, but she will stay with the company until September 30 to assist during the handover.
President George Papanier will temporarily handle the CFO duties in addition to serving as Bally’s president and sitting on its board. Directors are already looking for someone to fill the finance position permanently.
The assignment puts a longtime gaming executive back into a familiar role. Papanier, who has more than four decades of industry experience, previously became Bally’s interim CFO in 2023. He is a certified public accountant and has overseen its land-based casino business since October 2021. Earlier, he spent February 2011 through October 2021 as Bally’s president and CEO.
“On behalf of the entire Board and executive management team, I want to thank Mira for her dedication to Bally’s and we wish her great success going forward,” said Robeson Reeves, Chief Executive Officer of Bally’s Corporation.
“Having spent more than two decades in key operating and financial leadership roles at Bally’s, George has been instrumental in developing our business model, asset portfolio, and growth strategy. He steps into the interim role supported by an experienced finance organization and I am confident that our reporting, controls and capital markets work will continue without disruption.”
Papanier takes finance chief reins amid Bally’s multibillion-dollar casino expansion
The leadership switch comes at a time when Bally’s has several expensive casino developments underway and a complex financial position to manage.
For the fourth quarter of 2025, Bally’s preliminary results showed revenue reaching $746.2 million, a 28.6% increase from $580.4 million in the prior-year period. Casinos and resorts brought in $366.2 million during the quarter, with another $236.5 million coming from international online gaming.
Bally’s has grown through dealmaking as well. A transaction valued at roughly $3 billion combined its International Interactive operation with Intralot, giving Bally’s a controlling 58% interest in Bally’s Intralot.
Big construction commitments are also demanding capital. Bally’s plans a $4 billion casino and entertainment development in the Bronx while building its $1.7 billion permanent casino in Chicago.
Chicago has brought fresh complications. In August, Bally’s said it was “resetting the pace” of some construction while challenging a potential expansion of video gambling terminals across the city.
The company contends that unrestricted VGT growth would run against promises in its Host Community Agreement and leave the casino facing added uncertainty. Bally’s said the slowdown could affect some of the 1,500 union tradespeople on the project, though it still expects the permanent casino to open in early 2027.
Earlier construction problems included debris reaching the Chicago River, use of an unauthorized waste hauler and engineering revisions that forced foundation changes and relocation of the hotel tower.
Papanier now takes responsibility for Bally’s finance organization through those challenges while the board searches for a permanent CFO.
Featured image: SCM.com via website
The post Bally’s finance chief exits as casino giant faces costly expansion pressures appeared first on ReadWrite.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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