BALLYS Stock Price, News & Analysis

Bally's Interactive has launched 'Bally Bracket: $100K Overtime,' a free-to-play game offering fans a chance to win up to $100,000 in prizes during the NCAA Men's Basketball Tournament. Entries are allowed until April 2, 2022, and players can predict outcomes of the Final Four matchups. This follows the initial Bally Bracket, which featured a $100 million grand prize but ended early due to major upsets. The prize pool includes one $50,000 winner, one $25,000 winner, and several smaller prizes, designed to keep fans engaged as the tournament concludes.

Bally's Corporation (NYSE: BALY) has appointed Bobby Lavan as Chief Financial Officer, succeeding Steve Capp, who will depart to pursue other opportunities. Lavan previously served as Senior VP of Finance & Investor Relations at Bally's since May 2021, where he was instrumental in the acquisition and integration of Gamesys. His background includes CFO roles at Turning Point Brands and General Wireless Operations. CEO Lee Fenton expressed confidence that Lavan's experience will drive future growth and financial strategy. Lavan's appointment awaits customary regulatory approvals.

Bally's Interactive announced the launch of Bally Bracket, a free-to-play game offering a jackpot prize of $100 million for correctly predicting all games in the NCAA Men's Division I Basketball Tournament. Additionally, $100,000 in random cash prizes will also be awarded. The game registration starts on March 7, 2022, with brackets available after March 13, 2022, and closing on March 17, 2022.

Bally's will leverage its media partnership with Sinclair Broadcast Group for promotional efforts.

Bally's Corporation (NYSE: BALY) reported Q4 2021 revenue of $547.7 million, an increase from $118.1 million in Q4 2020. However, the company faced a net loss of $115.3 million compared to a profit of $20.2 million in the prior year. Adjusted EBITDA rose to $119.4 million, up from $21.1 million year-over-year. Bally's outlined 2022 guidance, forecasting revenue between $2.4 billion and $2.5 billion and Adjusted EBITDA ranging from $560 million to $580 million. The company is focusing on integrating acquired assets and strategic growth initiatives.

The Special Committee of Bally's Corporation has engaged Macquarie Capital and Potter Anderson & Corroon LLP to evaluate a non-binding acquisition proposal from Standard General, submitted on January 25, 2022. No decisions regarding the proposal have been made, and there is no guarantee of any definitive offer or transaction. Bally's operates 14 casinos in 10 states and owns multiple gaming platforms and services. The company emphasizes uncertainties tied to forward-looking statements and future performance.

Paysafe (NYSE: PSFE) has launched a partnership with Bally’s Corporation (NYSE: BALY) to enhance online payments in Arizona and New Jersey. The integration allows players to deposit funds easily using credit or debit cards for Bally Bet and BallyCasino.com. The partnership aims to streamline payment acceptance and improve customer conversion rates, with plans for alternative payment methods like Skrill USA and paysafecard to be added soon. Future phases include further integrations across additional states, reflecting Paysafe's commitment to becoming a leader in the iGaming payment sector.

Bally's Corporation (NYSE: BALY) will announce its fourth quarter and full year 2021 financial results on February 24, 2022, before market opening. A conference call will follow at 8:00 a.m. EST to discuss the results. Interested parties can join by dialing (800) 459-5346 and using conference ID BALYQ42021. An audio webcast will also be available on the company's website for 120 days. Bally's operates 14 casinos across 10 states and is expanding its online sports betting and gaming operations.

The board of directors of Bally's Corporation (NYSE: BALY) has formed a special committee to assess a non-binding acquisition proposal from Standard General. The proposal, dated January 25, 2022, offers $38.00 in cash per share for all outstanding shares not already owned by Standard General. The committee will also explore other strategic alternatives. No assurances are given that a definitive offer will be made or accepted. Bally's operates 14 casinos across 10 states, with significant growth opportunities in online sports betting and iGaming.