Bally's Corporation - BALY STOCK NEWS

Bally's Corporation (NYSE: BALY) announced a labor neutrality agreement with the International Union of Operating Engineers (IUOE) regarding its Tropicana Las Vegas property. This agreement allows employees to make informed decisions on union representation without pressure. Chairman Soo Kim emphasized the company's commitment to employee rights and positive labor relations. Bally's also entered a Multi-Project Labor Agreement with local unions for its Chicago casino's construction. Bally's operates 15 casinos in 10 states and has plans for further expansion, underscoring its strong position in the gaming industry.

Bally's Corporation (NYSE: BALY) announced the appointment of Kim Barker Lee as Executive Vice President, Chief Legal Officer, effective Dec. 7, 2022. With over 25 years of expertise in legal and business matters, particularly in lottery and gaming, Ms. Lee will enhance Bally's legal and public affairs teams in support of global initiatives. CEO Lee Fenton expressed confidence in her ability to navigate challenges in key markets like Rhode Island and Illinois. Bally's operates 15 casinos across 10 states and aims to expand its omni-channel gaming leadership.

Bally's Corporation (NYSE: BALY) reported third-quarter financial results, showing revenue of $578.2 million and net income of $0.6 million. Adjusted EBITDA stood at $151.0 million. The company noted strong performance in its Casinos & Resorts segment due to the integration of regional properties and the addition of Tropicana Las Vegas. However, the North America Interactive division faced challenges, requiring a focus on profitable ventures. Bally's updated its 2022 guidance, forecasting revenue of approximately $2.25 billion and Adjusted EBITDA of $540 million.

Bally's Corporation (NYSE: BALY) will announce its third-quarter 2022 financial results before the market opens on November 3, 2022. Following the announcement, management will hold a conference call at 8:00 a.m. EDT to discuss the results. Interested parties can join by calling (800) 274-8461 and referencing conference ID BALYQ322. Bally's operates 15 casinos in 10 states, employing approximately 10,500 staff, and plans to expand its operations with new developments in Chicago and State College, PA.

Bally's Corporation (NYSE: BALY) has signed a Multi-Project Labor Agreement with the Chicago & Cook County Building & Construction Trades Council for its new casino in Chicago. This agreement emphasizes the company's commitment to creating good-paying jobs and reflects the diversity of the community. The $1.7 billion Bally's Chicago will feature 3,400 slots, 170 table games, a 500-room hotel, and a major entertainment center. The project aims to drive economic growth in the city while providing Bally's with the right to operate a temporary casino during construction.

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.