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 (NYSE: BALY) generates a steady flow of news related to its casino-entertainment operations, interactive gaming platforms, capital structure and large-scale development projects. This news page aggregates coverage of BALY, drawing from company press releases and regulatory disclosures to highlight material developments affecting the business and its stock.
Readers can expect updates on Casinos & Resorts performance, including revenue trends across Bally’s regional and destination properties, as reported in its quarterly earnings releases. The company’s communications also cover progress on major projects such as the permanent Bally’s Chicago casino and resort, the planned Bally’s Las Vegas integrated resort on the former Tropicana site, and proposed development of a casino and resort in the Bronx, New York, all of which feature prominently in recent announcements.
Bally’s news flow also reflects its interactive and lottery-related strategy. Articles discuss the International Interactive and North America Interactive segments, the sale of Bally’s International Interactive business to Intralot S.A., and Bally’s resulting majority shareholding in Intralot. These items provide context on how Bally’s is reshaping its digital footprint and capitalizing on lottery and iGaming opportunities.
Capital markets and financing updates are another recurring theme. Press releases and corresponding Form 8-K filings describe amendments to the revolving credit facility, incremental revolving commitments, term loan commitment letters, and the planned sale and leaseback of the Twin River Lincoln Casino Resort, along with intended debt reduction. In addition, event-focused stories, such as the TBL Team Boxing League’s televised open boxing combine at Bally’s Atlantic City, show how the company’s properties serve as venues for sports and entertainment experiences.
Investors, analysts and gaming industry followers can use this BALY news page to monitor earnings reports, transaction announcements, financing developments and property-level initiatives, and to track how these disclosures may relate to Bally’s strategic direction and operational performance over time.
Bally's Corporation (NYSE: BALY) has announced a groundbreaking multi-year partnership with Minor League Baseball (MiLB), becoming the first National Media Rightsholder and Exclusive Fantasy & Gaming Partner. This agreement grants Bally's live broadcast rights and exclusive free-to-play gaming content across digital platforms. The partnership also involves the Bally Live™ platform, enhancing fan engagement with features like chat and watch parties, covering over 7,000 live games without blackout restrictions. Bally's rewards program, Bally Bucks™, will incentivize fan participation. This collaboration aims to enhance the experience for MiLB's 30 million fans.
Bally's Corporation (NYSE: BALY) reported Q4 and full year 2022 results, highlighting a revenue of $576.7 million for Q4 and $2.3 billion for the year. Despite this growth, the company faced a net loss of $487.5 million in Q4, due primarily to non-cash impairment charges of $464.0 million. Adjusted EBITDA stood at $145.8 million for Q4 and $548.5 million for the year. The company anticipates a revenue range of $2.5 billion to $2.6 billion for 2023, while maintaining a focus on profitability in their North American Interactive segment.
Bally's Corporation (NYSE: BALY) will announce its financial results for the fourth quarter and full year 2022 on February 23, 2023, after the market closes. Following this, a conference call will be held at 4:30 p.m. EST to discuss the results, accessible by dialing (800) 245-3047 and referencing conference ID BALYQ422.
Bally's is a global casino and entertainment company, managing 15 casinos across 10 states and working in online sports betting and iGaming. The company aims to grow its omni-channel presence, currently owning a sports betting platform and a casino.
Bally's Corporation (NYSE: BALY) reported preliminary results for Q4 and full year ending December 31, 2022. Total revenue reached $576.7 million, but the company incurred a net loss of $476.8 million, heavily impacted by $464.0 million in non-cash impairment charges. Adjusted EBITDA stood at $145.8 million. For 2023, Bally's projects full-year revenues between $2.5 billion and $2.6 billion, with Adjusted EBITDAR of $660 million to $700 million. Key developments include a restructuring plan for the Interactive business and ongoing expansions in North America and International markets. Final results are expected on February 23, 2023.
Bally's Corporation (NYSE: BALY) announced that CEO Lee Fenton will step down on March 31, 2023, with Robeson Reeves, President - Interactive, succeeding him. Fenton led the integration of Gamesys and has been with Bally's since 2021. Chairman Soo Kim expressed gratitude for Fenton's contributions and confidence in Reeves' leadership abilities. Reeves, having been with Gamesys since 2005 and serving as COO since 2015, is expected to advance Bally's strategic objectives. Bally's operates 15 casinos across 10 states and is focused on expanding its online sports betting and iGaming offerings.
Bally's Corporation (NYSE: BALY) announced the appointment of Tracy Harris as an independent member of its Board of Directors, effective upon regulatory approval. Harris brings over 20 years of experience in finance and leadership roles within highly regulated sectors.
Previously, she served as Executive Vice President and CFO of MIB Group Holdings, leading financial transformation efforts. Harris has held CFO positions in various organizations and currently serves on several boards, enhancing her strategic insight.
Chairman Soo Kim praised her expertise in finance and strategy, indicating her potential contributions to Bally's growth and profitability.
Bally's Corporation has completed a sale leaseback transaction with Gaming & Leisure Properties, Inc. for its Tiverton Casino & Hotel and Hard Rock Hotel & Casino Biloxi, totaling $635 million. This tax-free capital contribution will significantly reduce Bally's debt. The deal increases the annual rent for Bally's Master Lease with GLPI by $48.5 million, now encompassing six properties. Bally's aims for continued growth following this crucial transaction, positioning itself strategically in the competitive gaming market.
Bally's Corporation (NYSE: BALY) has achieved a significant milestone with the Chicago City Council's approval of an amendment for the Bally's Chicago Casino, a $1.7 billion development. This project will include a 1 million square foot casino complex, a 500-room hotel, and a 3,000-person event space, generating 3,000 construction and permanent jobs along with substantial annual tax revenues. The development aims to transform an underutilized site into a major economic hub, enhancing the city's offerings in entertainment, dining, and culture.
Bally's Corporation (NYSE: BALY) announced a labor neutrality agreement with the International Union of Operating Engineers (IUOE) regarding its Tropicana Las Vegas property. This agreement allows employees to make informed decisions on union representation without pressure. Chairman Soo Kim emphasized the company's commitment to employee rights and positive labor relations. Bally's also entered a Multi-Project Labor Agreement with local unions for its Chicago casino's construction. Bally's operates 15 casinos in 10 states and has plans for further expansion, underscoring its strong position in the gaming industry.
Bally's Corporation (NYSE: BALY) announced the appointment of Kim Barker Lee as Executive Vice President, Chief Legal Officer, effective Dec. 7, 2022. With over 25 years of expertise in legal and business matters, particularly in lottery and gaming, Ms. Lee will enhance Bally's legal and public affairs teams in support of global initiatives. CEO Lee Fenton expressed confidence in her ability to navigate challenges in key markets like Rhode Island and Illinois. Bally's operates 15 casinos across 10 states and aims to expand its omni-channel gaming leadership.