BALLYS Stock Price, News & Analysis

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.

Bragg Gaming Group (NASDAQ: BRAG) has partnered with Bally’s Interactive to enhance its iGaming content offerings. This collaboration will see the launch of Bragg’s proprietary games from studios like Atomic Slot Lab and Indigo Magic across Bally's online brands, including Virgin Casino and JackpotJoy. Additionally, Bragg will distribute exclusive titles through its Remote Game Server from select Bally’s third-party partners. This strategic alliance aims to expand Bragg’s presence in key markets like the UK and U.S., enhancing player engagement with diverse gaming options.

Bally's Corporation (NYSE: BALY) has announced the retirement of Marc Crisafulli, EVP of Government Relations, Legal and Regulatory, effective September 16, 2022. Crisafulli joined in May 2019 and significantly contributed to the company's strategy, particularly in advancing important legislation in Rhode Island. His efforts were pivotal in the passage of the Marc A. Crisafulli Economic Development Act, establishing a joint venture with IGT and an economic investment plan of $250 million. Bally's management praised his contributions and leadership during his tenure.

Genius Sports has entered a significant partnership with Bally's Interactive, providing comprehensive data and streaming solutions for its sports betting platforms. This agreement includes access to exclusive data rights for major sports leagues such as NASCAR, NCAA basketball and football, and the NFL. Additionally, Genius Sports will deliver thousands of low-latency video feeds, enhancing live betting experiences for users. This partnership aims to improve operational performance and profitability for Bally's Interactive brands, including Bally Bet.

Bally's Corporation (NYSE: BALY) announced its financial results for Q2 2022, reporting revenue of $552.5 million, net income of $59.5 million, and an adjusted EBITDA of $141.2 million. While revenue increased significantly from $267.7 million in Q2 2021, net income saw a decline from $68.9 million in the prior year. The company updated its full-year revenue guidance to $2.2 billion to $2.3 billion and adjusted EBITDA guidance to $535 million to $550 million, citing foreign exchange impacts and lowered expectations for its Atlantic City property.

Bally's Corporation (NYSE: BALY) has secured marketing rights for the remainder of the 2022 Major League Baseball season as an official sports betting partner of the New York Yankees. This partnership allows Bally's to utilize Yankees trademarks and gain marketing benefits inside Yankee Stadium, including LED advertising and in-game features. The deal enhances Bally's presence in the New York market and adds to its sports and media footprint across six states. Bally's operates an omni-channel platform in online sports betting and iGaming, managing 14 casinos in 10 states.

Bally's Corporation (NYSE: BALY) announced the results of its modified Dutch Auction tender offer, which concluded on July 22, 2022. A total of 4,697,619 common shares were validly tendered at a final purchase price of $22.00 per share, amounting to an aggregate purchase price of $103,347,618. This represents approximately 8.9% of Bally's outstanding shares. All shares tendered at or below the offered price were accepted without a proration factor. Bally's also has $334.6 million available for future share repurchases.

Bally's Corporation (NYSE: BALY) announced preliminary results of its modified "Dutch Auction" tender offer, which expired on July 22, 2022. A total of 4,858,465 common shares were validly tendered at or below the purchase price of $22.00 per share, amounting to an aggregate purchase price of $106,886,230, representing 9.2% of Bally's outstanding shares. The company expects to purchase all validly tendered shares without proration. Bally's has $334.6 million available under its capital return program for future repurchases.

Bally's Corporation (NYSE: BALY) will announce its second quarter 2022 financial results before market opening on August 4, 2022. A conference call for discussing the results will take place at 8:00 a.m. EDT on the same day, accessible via phone at (800) 343-4849 with conference ID BALYQ22022 or through an online audio webcast. Bally's operates 14 casinos across 10 states and is expanding its online presence in sports betting and iGaming.