BALLYS - BALY STOCK NEWS

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.

Bally's Corporation (NYSE: BALY) announced the beta launch of its mobile sportsbook, Bally Bet, in Colorado on May 24, 2021. Developed by Bet.Works, this mobile platform features unique betting options, exclusive games, and social integration aimed at enhancing the user experience. Bally's plan includes expanding into three additional markets in 2021 and further launches in 2022. The Bally Bet app is now available on iOS, Android, and desktop, developed under a strategy to drive growth and diversify its offerings in the competitive sports betting market.

Bally's Corporation (NYSE: BALY) reported significant financial improvement for Q1 2021, showcasing an income from operations of $29.5 million and an Adjusted EBITDA of $52.5 million, up 137.9% from the previous year. Revenue surged by 76.2% to $192.3 million, driven by increased consumer confidence and strategic acquisitions. Despite a net loss of $10.7 million, which slightly widened from $8.9 million in Q1 2020, operation margins improved to 15.33%. The company is advancing its omni-channel strategy, highlighted by the acquisition of Gamesys Group plc.

Bally's Corporation (NYSE: BALY) will announce its financial results for Q1 2021 on May 10, 2021, before the market opens. A conference call will follow at 8:00 a.m. EDT, accessible by dialing (833) 570-1160 and referencing conference ID 7824207. Bally's operates 12 casinos across eight states and is set to expand to 15 casinos in 11 states after recent acquisitions are completed. The company also provides mobile sports betting in Iowa and holds a permit for online sports betting in Virginia.

Bally's Corporation (NYSE: BALY) announced the City of Richmond's decision to exclude its Richmond Casino Resort from the casino selection process. The proposal included a $650 million financial package, which featured a $100 million upfront payment and $28-$30 million in annual taxes, promising to attract 3.7 million visitors and generate $415 million in annual gross revenue. Despite expressing disappointment, Bally's remains committed to providing its online sports betting platform in Virginia under its temporary permit.

Bally's Corporation completed its public offering of 12.65 million shares of common stock at $55.00 per share, raising approximately $671.4 million in net proceeds. The funds will primarily be used for cash consideration for the acquisition of Gamesys Group plc. If the acquisition does not occur, proceeds will support general purposes, including debt repayment and capital expenditures. The offering was led by Deutsche Bank, Goldman Sachs, and Barclays.