BALLYS Stock Price, News & Analysis

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.

Bally's Corporation (NYSE: BALY) has completed the acquisition of Jumer's Casino & Hotel for $120 million, funded through its revolving credit facility. This strategic move expands Bally's presence in the growing Illinois gaming market, providing access to lucrative sports betting opportunities. CEO George Papanier noted the acquisition is expected to enhance revenue and cash flow. Jumer's features a 40,000 square foot casino, a hotel, and various entertainment options. The deal is anticipated to be immediately accretive to earnings based on prior performance.

Bally's Corporation (NYSE: BALY) celebrates the Rhode Island Legislature's passage of the Marc A. Crisafulli Economic Development Act, which extends a partnership with International Game Technology (NYSE: IGT). This act establishes a 20-year joint venture where Bally's will lease 23% of gaming machines, increasing to 40% by 2023. The $250 million plan aims for job creation and expansion of the Twin River Casino, enhancing Rhode Island's gaming industry by preserving key revenue streams.

Bally's Corporation (NYSE: BALY) and Oscar de la Hoya's KO Entertainment have partnered to innovate combat sports broadcasting, enhancing fan engagement through gamification. The pilot event, "Oscar de la Hoya's KO Entertainment Presents Bally's Fight Night," will showcase MMA and boxing with real-time data tracking, offering transparency and a unique viewing experience. Scheduled for June 9, 2021, this initiative aims to revolutionize audience interaction while improving fighter safety and experience. Bally's plans to incorporate its Monkey Knife Fight platform into the broadcasts, elevating the interactivity of combat sports.

Bally's Corporation has successfully acquired the Tropicana Evansville casino from Caesars Entertainment for $140 million. This acquisition includes rights to sports betting and iGaming skins, enhancing Bally's presence in the growing Indiana gaming market. The transaction involved a real estate acquisition by Gaming & Leisure Properties for $340 million, which Bally's will lease for $28 million annually. No cash expenditure was required from Bally's at closing, and the company anticipates immediate earnings accretion from this strategic move.

Bally's Corporation (NYSE: BALY) announced the completion of its acquisition of Bet.Works, a U.S. sports betting platform, for a total of $125 million. Half of the purchase price was paid in Bally's common stock, which Bet.Works shareholders will hold for at least one year. This acquisition positions Bally's as a leading, vertically integrated sports betting and iGaming company in the U.S., enhancing its B2B2C business model. The company plans to create two divisions: 'Bally's Casinos' and 'Bally's Interactive,' expanding its online and interactive product offerings to over 14 million active customers.