Bally's Corporation - BALY STOCK NEWS

Bally's Corporation (NYSE: BALY) will announce its third quarter 2021 financial results on November 4, 2021 before the market opens. A conference call will be held at 10:00 a.m. EDT to discuss the results, accessible by dialing (877) 876-9176 and using conference ID BALYQ32021. Bally's operates 14 casinos across 10 states and is expanding its presence in online sports betting and iGaming. The company's shares are traded under the ticker symbol BALY.

Bally's Corporation (NYSE: BALY) has partnered with the Nashville Predators, becoming their Official Sports Betting Partner through 2025. This marks Bally's first collaboration with an NHL team and in Tennessee. The partnership grants Bally's rights to Predators' logos and content. A key initiative is the Smashville Selector, a free-to-play game app for fans to answer predictive questions about games, offering prizes. Bally's aims to leverage the Predators’ fan engagement as they prepare to launch their sportsbook app in Tennessee in 2022.

Bally's Corporation has entered an exclusive partnership with PepsiCo, making it the official beverage provider across all Bally's casinos and resorts in the U.S. This collaboration includes more than 14 properties in 10 states and focuses on enhancing guest experiences with a broad range of PepsiCo beverages like Pepsi Zero Sugar and Mountain Dew. The partnership aims to create a comprehensive hospitality offering that spans restaurants, food courts, and vending machines, fully starting by the end of October 2021.

Bally's Corporation (NYSE: BALY) has announced an increase in its share repurchase authorization to $350 million. This decision follows the acquisition of Gamesys and a comprehensive $4.065 billion debt package, aiming to enhance capital allocation flexibility and long-term shareholder value. The company emphasizes its strong balance sheet and substantial free cash flow, enabling it to regularly evaluate capital opportunities, including share buybacks. Repurchases will be conducted through various methods while maintaining discretion on the program's continuation.

Bally's Corporation (NYSE: BALY) has successfully finalized its acquisition of Gamesys Group plc, a prominent online gaming operator based in the UK. This merger positions Bally's as a leading global omni-channel gaming company, enhancing its interactive offerings in North America, including real-money gaming in Online Sports Betting and iGaming. The integration of player databases will create substantial cross-sell opportunities across various gaming sectors. Former Gamesys CEO Lee Fenton will now lead Bally's as CEO, marking a new era for the company.

Bally's Corporation (NYSE: BALY) has announced the acquisition of Telescope Inc., a leader in real-time audience engagement solutions for live events and interactive livestreams. The integration aims to enhance Bally's interactive offerings and attract a younger demographic. Senior VP Adi Dhandhania emphasized the potential for innovative engagement tools across Bally's platforms. Telescope, with over 19 years of experience, is recognized for delivering immersive participation initiatives and holds several industry accolades, including multiple Guinness World Records.

Bally's Corporation (NYSE: BALY) reported strong financial results for Q2 2021, showcasing revenue of $267.7 million, a significant increase from $28.9 million in the prior year. The net income reached $68.9 million with diluted EPS of $1.40. Adjusted EBITDA improved to $83.8 million, with an adjusted EBITDA margin of 31.3%. The company completed acquisitions of three casinos and Bet.Works, and is pursuing the acquisition of Gamesys to expand its operations. Strong operational efficiencies contributed positively to the margins as properties operated at full capacity due to reduced COVID-19 restrictions.

Bally's Corporation (NYSE: BALY) priced $750 million in senior notes (5.625% due 2029) and $750 million in senior notes (5.875% due 2031). The offering is set to close on August 20, 2021, pending conditions. Additionally, Bally's secured commitments for new bank credit facilities totaling $2.565 billion, consisting of a $620 million revolving credit facility and a $1.945 billion term loan. These financial moves support Bally's acquisition of Gamesys Group plc, anticipated to be finalized in Q4 2021, contingent on regulatory approval.

Bally's Corporation is set to release its second quarter 2021 financial results on August 9, 2021, prior to market opening. A conference call to discuss these results will be held at 10:00 a.m. ET on the same day, accessible via the number (866) 342-8591 with conference ID BALYQ22021. Bally's operates a growing network of casinos and online betting platforms across the U.S., managing 14 casinos and offering sports betting through its subsidiaries. The company trades under the ticker symbol BALY.