Welcome to our dedicated page for Bally's Corporation news (Ticker: BALY), a resource for investors and traders seeking the latest updates and insights on Bally's Corporation stock.
Bally's Corporation (NYSE: BALY) is a global leader in the casino-entertainment industry, offering a diverse portfolio of gaming, hospitality, and interactive entertainment experiences. The company operates 15 casinos across 10 states in the U.S., along with a horse racetrack in Colorado. Their offerings range from traditional casinos with slot machines and table games to online gambling platforms that include iGaming, online bingo, and sportsbooks.
Bally's has three main segments: Casinos & Resorts, North America Interactive, and International Interactive. The Casinos & Resorts segment includes 15 casino properties and a horse racetrack, offering a mix of slot machines, table games, and hotel amenities. The North America Interactive segment features Bally Bet, a premier sports betting platform, and Bally Casino, a growing iCasino platform. The International Interactive segment is primarily driven by Gamesys Group's European and Asian operations, providing a strong online gaming presence.
Recently, Bally's has achieved significant milestones such as a strategic partnership with Stakelogic, a leading live casino supplier, following the passage of the Rhode Island iGaming bill. This partnership aims to introduce Bally's live casino operations in Rhode Island by April 2024, enhancing their online gaming portfolio. Additionally, Bally's Kansas City recently opened a land-based property expansion, adding over 35,000 square feet of new gaming and retail space.
Financially, Bally's reported solid results for the second and third quarters of 2023. The company's Casinos & Resorts segment produced record revenues, and the International Interactive segment showed robust growth. However, Bally's experienced a net loss for the quarters due to investments in new projects and technology platforms. Despite this, Bally's maintains a strong revenue guidance for 2023, ranging from $2.4 billion to $2.5 billion, and is focused on capitalizing on its recent expansions and partnerships.
With a workforce of 10,500 employees, Bally's aims to provide exceptional gaming and hospitality experiences. The company is also making strides in technology integration and customer engagement, particularly through its Bally Bet app. As Bally's continues to expand its footprint in both physical and digital spaces, it remains a significant player in the global casino-entertainment industry.
Bally’s reported financial results for the first quarter of 2024 with company-wide revenue of $618.5 million, up 3.3% year-over-year. Casinos & Resorts revenue increased by 4.1%, International Interactive revenue decreased by 4.4%, and North America Interactive revenue surged by 70.2%.
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