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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.
Gaming Arts has announced a five-year exclusive content agreement with Gamesys, a subsidiary of Bally Corporation (NYSE: BALY). This partnership will allow Gamesys to utilize Gaming Arts' comprehensive library of electronic gaming machines for online real money gaming markets globally. The collaboration aims to enhance Gamesys' online portfolio with successful casino slot games, alongside the development of new titles. Both companies express excitement for this strategic move into online gaming, marking a significant milestone for Gaming Arts.
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.
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