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) 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.
Bally's Corporation (NYSE: BALY) reported third-quarter financial results, showing revenue of $578.2 million and net income of $0.6 million. Adjusted EBITDA stood at $151.0 million. The company noted strong performance in its Casinos & Resorts segment due to the integration of regional properties and the addition of Tropicana Las Vegas. However, the North America Interactive division faced challenges, requiring a focus on profitable ventures. Bally's updated its 2022 guidance, forecasting revenue of approximately $2.25 billion and Adjusted EBITDA of $540 million.
Bally's Corporation (NYSE: BALY) will announce its third-quarter 2022 financial results before the market opens on November 3, 2022. Following the announcement, management will hold a conference call at 8:00 a.m. EDT to discuss the results. Interested parties can join by calling (800) 274-8461 and referencing conference ID BALYQ322. Bally's operates 15 casinos in 10 states, employing approximately 10,500 staff, and plans to expand its operations with new developments in Chicago and State College, PA.
Bally's Corporation (NYSE: BALY) has signed a Multi-Project Labor Agreement with the Chicago & Cook County Building & Construction Trades Council for its new casino in Chicago. This agreement emphasizes the company's commitment to creating good-paying jobs and reflects the diversity of the community. The $1.7 billion Bally's Chicago will feature 3,400 slots, 170 table games, a 500-room hotel, and a major entertainment center. The project aims to drive economic growth in the city while providing Bally's with the right to operate a temporary casino during construction.
Bally's Corporation (NYSE: BALY) has completed its acquisition of the Tropicana Las Vegas for $148 million in cash, payable to Gaming & Leisure Properties, Inc. (GLPI). Bally's will lease the land from GLPI for 50 years at an annual rent of $10.5 million. The Tropicana, located on a 35-acre site in Las Vegas, features 1,470 rooms, a 50,000 square foot casino, a 1,200-seat theater, and convention space. This acquisition enhances Bally's portfolio, aiming to strengthen its position in the casino-entertainment industry.
FAQ
What is the current stock price of BALLYS (BALY)?
What is the market cap of BALLYS (BALY)?
