Welcome to our dedicated page for BALLYS news (Ticker: BALY), a resource for investors and traders seeking the latest updates and insights on BALLYS stock.
Bally's Corporation (BALY) operates at the intersection of traditional casino entertainment and digital gaming innovation. This news hub provides investors and industry observers with essential updates on the company's land-based casino operations, sports betting platforms, and strategic market expansions.
Access real-time updates on earnings reports, property acquisitions, regulatory developments, and technological advancements across Bally's integrated gaming ecosystem. Our curated news collection covers operational milestones in casino management, interactive gaming through Bally's Interactive International, and expansion initiatives like the company's UK market entry.
Key updates include financial performance disclosures, partnership announcements with sports organizations, and innovations in Bally Bet's digital wagering platform. Track the company's progress in merging physical resort experiences with next-generation iCasino solutions through verified news sources and official corporate communications.
For comprehensive monitoring of Bally's evolving position in casino entertainment and digital gaming, bookmark this page for regular updates on critical developments affecting market performance and strategic direction.
Bally's Corporation (NYSE: BALY) reported strong financial results for Q2 2021, showcasing revenue of $267.7 million, a significant increase from $28.9 million in the prior year. The net income reached $68.9 million with diluted EPS of $1.40. Adjusted EBITDA improved to $83.8 million, with an adjusted EBITDA margin of 31.3%. The company completed acquisitions of three casinos and Bet.Works, and is pursuing the acquisition of Gamesys to expand its operations. Strong operational efficiencies contributed positively to the margins as properties operated at full capacity due to reduced COVID-19 restrictions.
Bally's Corporation (NYSE: BALY) priced $750 million in senior notes (5.625% due 2029) and $750 million in senior notes (5.875% due 2031). The offering is set to close on August 20, 2021, pending conditions. Additionally, Bally's secured commitments for new bank credit facilities totaling $2.565 billion, consisting of a $620 million revolving credit facility and a $1.945 billion term loan. These financial moves support Bally's acquisition of Gamesys Group plc, anticipated to be finalized in Q4 2021, contingent on regulatory approval.
Bally's Corporation is set to release its second quarter 2021 financial results on August 9, 2021, prior to market opening. A conference call to discuss these results will be held at 10:00 a.m. ET on the same day, accessible via the number (866) 342-8591 with conference ID BALYQ22021. Bally's operates a growing network of casinos and online betting platforms across the U.S., managing 14 casinos and offering sports betting through its subsidiaries. The company trades under the ticker symbol BALY.
Bally's Corporation (NYSE: BALY) reported preliminary financial results for Q2 2021, estimating total consolidated revenues between $258 million and $268 million with Adjusted EBITDA ranging from $80 million to $84 million. This marks a significant increase from revenues of $28.9 million and negative Adjusted EBITDA of $10.7 million in Q2 2020. The company will not require incremental equity or funds from Gaming and Leisure Properties for its Gamesys acquisition, which is expected to close in Q4 2021, pending regulatory approval.
Bally's Interactive and Sportradar have entered a significant five-year partnership aimed at enhancing Bally's sports betting capabilities. Sportradar will provide Bally's with comprehensive pre-match and live betting services, crucial for Bally's ambition to lead in the North American sports betting market. Following the mobile sportsbook launch in Iowa and Colorado, Bally's plans to expand its Bally Bet platform to additional states in 2021 and 2022. This partnership is part of Sportradar's strategy to secure long-term deals for its services in the U.S.
Bally's Corporation (NYSE: BALY) announced its acquisition of the Association of Volleyball Professionals (AVP) on July 13, 2021. This strategic move aims to enhance Bally's omni-channel growth by integrating interactive content into beach volleyball, boosting traffic and customer engagement. The acquisition includes all AVP assets, such as trademarks, promoter agreements, and digital media. Bally's plans to utilize AVP's distribution channels and Sinclair's 'Bally Sports' networks to promote the league. The AVP Pro Tour is set to begin on August 13, 2021, in Atlanta.
Bally's Corporation (NYSE: BALY) and Gamesys Group plc successfully received shareholder approvals for their proposed business combination on June 30, 2021. The transaction is expected to close in the fourth quarter of 2021, pending customary regulatory approvals. The merger aims to enhance Bally's growth strategy by integrating Gamesys' advanced gaming technology, creating a vertically integrated company poised to capitalize on the expanding U.S. online sports betting and iGaming markets.
Bally's Corporation (NYSE: BALY) announced a landmark partnership with the Phoenix Mercury, a key member of the WNBA, marking the first gaming access deal with a professional women's sports team. Starting July 1, 2021, Bally's becomes the exclusive sports betting partner, enabling online and mobile sports betting in Arizona, alongside a retail sportsbook near the Phoenix Suns Arena. This 15-year agreement reflects a commitment to diversity, equity, and inclusion, enhancing fan engagement and promoting women's sports.
Bally's Interactive has launched its mobile sportsbook, Bally Bet, in Iowa, marking its second state launch after Colorado. The platform offers unique features such as exclusive in-app games and rewards through the Bally Rewards loyalty program. This expansion, partnering with Elite Casino Resorts, also enhances Bally's visibility through local CBS and Fox affiliates. Future launches in two additional markets are planned for 2021, aiming to solidify Bally's as a leading brand in the U.S. sports betting market.
Bally's Corporation (NYSE: BALY) has entered a multi-year agreement with Boot Hill Casino & Resort in Kansas to launch its mobile sportsbook, "Bally Bet," pending state sports betting legislation. This collaboration allows Bally's to expand its market presence into Kansas, becoming the 14th state for its sports betting operations. Notably, Kansas is a market where Bally's does not have a land-based casino. The partnership aims to enhance the sports betting experience for Kansas fans by leveraging Bally's access to Sinclair Broadcast Group’s regional sports networks.