Bally's Corporation - BALY STOCK NEWS

Bally's Corporation (NYSE: BALY) is set to announce its first-quarter financial results for 2023 on May 9, 2023, prior to market opening. A conference call will follow at 10:00 a.m. EDT to discuss these results. Investors can join the call by dialing (800) 267-6316 and using conference ID BALYQ123. An online audio webcast will also be available via the Investor Relations section of the company's website, with an archive for 120 days.

Bally's operates 15 casinos across 10 states and is expanding its online sports betting and iGaming offerings. With a workforce of 10,500 employees, the company operates approximately 15,000 slot machines and 600 table games. Following upcoming developments, Bally's will manage 17 casinos in 11 states.

Bally's Corporation (NYSE: BALY) has officially opened a new 40,000-square-foot gaming area at the Twin River Lincoln Casino Resort, marking a significant expansion of its facilities. This development is part of the Marc A. Crisafulli Economic Development Act signed into law in 2021. The expansion includes 355 slot machines, 57 table games, and 27 stadium-style games, representing a $100 million investment aimed at boosting revenue for Rhode Island. Governor McKee and other officials praised Bally's for its continued contributions to the local economy and workforce. Additionally, Bally's recently opened Spa Light, a 14,000-square-foot Korean-inspired spa, enhancing its offerings to visitors.

Bally's Corporation (NYSE: BALY) has announced a groundbreaking multi-year partnership with Minor League Baseball (MiLB), becoming the first National Media Rightsholder and Exclusive Fantasy & Gaming Partner. This agreement grants Bally's live broadcast rights and exclusive free-to-play gaming content across digital platforms. The partnership also involves the Bally Live™ platform, enhancing fan engagement with features like chat and watch parties, covering over 7,000 live games without blackout restrictions. Bally's rewards program, Bally Bucks™, will incentivize fan participation. This collaboration aims to enhance the experience for MiLB's 30 million fans.

Bally's Corporation (NYSE: BALY) reported Q4 and full year 2022 results, highlighting a revenue of $576.7 million for Q4 and $2.3 billion for the year. Despite this growth, the company faced a net loss of $487.5 million in Q4, due primarily to non-cash impairment charges of $464.0 million. Adjusted EBITDA stood at $145.8 million for Q4 and $548.5 million for the year. The company anticipates a revenue range of $2.5 billion to $2.6 billion for 2023, while maintaining a focus on profitability in their North American Interactive segment.

Bally's Corporation (NYSE: BALY) will announce its financial results for the fourth quarter and full year 2022 on February 23, 2023, after the market closes. Following this, a conference call will be held at 4:30 p.m. EST to discuss the results, accessible by dialing (800) 245-3047 and referencing conference ID BALYQ422.

Bally's is a global casino and entertainment company, managing 15 casinos across 10 states and working in online sports betting and iGaming. The company aims to grow its omni-channel presence, currently owning a sports betting platform and a casino.

Bally's Corporation (NYSE: BALY) reported preliminary results for Q4 and full year ending December 31, 2022. Total revenue reached $576.7 million, but the company incurred a net loss of $476.8 million, heavily impacted by $464.0 million in non-cash impairment charges. Adjusted EBITDA stood at $145.8 million. For 2023, Bally's projects full-year revenues between $2.5 billion and $2.6 billion, with Adjusted EBITDAR of $660 million to $700 million. Key developments include a restructuring plan for the Interactive business and ongoing expansions in North America and International markets. Final results are expected on February 23, 2023.

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.