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Bally's Corporation taps Mira Mircheva as new CFO and EVP amid expansion
United States-based gambling major Bally’s Corporation has announced the appointment of Mira Mircheva as its new Chief Financial Officer (CFO) and Executive Vice President (EVP), pending regulatory approval. This move comes on the heels of Bally’s recent merger with The Queen Casino & Entertainment, a transaction valued at $4.6 billion and backed by major shareholder Standard General.
Leadership transition and integration
Mircheva, who previously served as the finance head at The Queen Casino & Entertainment, brings over 25 years of experience in finance, particularly within the gaming and hospitality sectors. Her leadership is anticipated to be instrumental in integrating The Queen Casino’s operations into Bally’s expansive portfolio. Concurrent with her appointment, former CFO Marcus Glover will transition to the role of Executive Vice President of Global Operations.
Robeson Reeves, Bally’s CEO, said, “On behalf of the Board of Directors and the entire leadership team, I am thrilled to welcome Mira to Bally’s. She brings considerable experience to this role and her experience as CFO of The Queen Casino & Entertainment will be invaluable as we integrate Queen into Bally’s.“
Extensive financial expertise
Mircheva’s career includes significant roles such as partner and research analyst at Standard General, where she contributed financial expertise to strategic investments. She also held a senior research analyst position at Perella Weinberg Partners Asset Management and spent seven years at Goldman Sachs, ascending to the position of Vice President in Credit Principal. Her academic credentials include a Bachelor of Arts in Economics from Colgate University.
Mircheva, Bally’s incoming EVP and CFO, said, “I am thrilled to be joining Bally’s at such an exciting time for the Company and to leverage my experience with Queen to continue to strengthen our financial position by optimising our cost structure, enhancing the efficiency of our operations and leveraging the collective experience of our Board and my newest colleagues across the globe.“
Soo Kim, Chairman of Bally’s Board of Directors, said, “Mira’s experience as a CFO and strong financial acumen and operational experience make her the right person to help Bally’s continue to grow and achieve our long-term financial goals.“
Recent developments at Bally’s
The merger with The Queen Casino & Entertainment adds four casinos to Bally’s portfolio, as well as a 33 percent stake in Intralot. This expansion complements Bally’s existing operations, which include 19 casinos across 11 states, a New York-based golf course, and a Colorado horse racetrack. The company also holds online sports betting licenses in 13 North American jurisdictions.
In a related development, Bally’s recently made a $250 million capital raise proposal to Australia’s Star Entertainment Group, aiming to acquire a controlling stake and showcase its capacity to revitalise casino operations.
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