Welcome to our dedicated page for BALLYS news (Ticker: BALY), a resource for investors and traders seeking the latest updates and insights on BALLYS stock.
Bally’s Corporation (NYSE: BALY) generates a steady flow of news related to its casino-entertainment operations, interactive gaming platforms, capital structure and large-scale development projects. This news page aggregates coverage of BALY, drawing from company press releases and regulatory disclosures to highlight material developments affecting the business and its stock.
Readers can expect updates on Casinos & Resorts performance, including revenue trends across Bally’s regional and destination properties, as reported in its quarterly earnings releases. The company’s communications also cover progress on major projects such as the permanent Bally’s Chicago casino and resort, the planned Bally’s Las Vegas integrated resort on the former Tropicana site, and proposed development of a casino and resort in the Bronx, New York, all of which feature prominently in recent announcements.
Bally’s news flow also reflects its interactive and lottery-related strategy. Articles discuss the International Interactive and North America Interactive segments, the sale of Bally’s International Interactive business to Intralot S.A., and Bally’s resulting majority shareholding in Intralot. These items provide context on how Bally’s is reshaping its digital footprint and capitalizing on lottery and iGaming opportunities.
Capital markets and financing updates are another recurring theme. Press releases and corresponding Form 8-K filings describe amendments to the revolving credit facility, incremental revolving commitments, term loan commitment letters, and the planned sale and leaseback of the Twin River Lincoln Casino Resort, along with intended debt reduction. In addition, event-focused stories, such as the TBL Team Boxing League’s televised open boxing combine at Bally’s Atlantic City, show how the company’s properties serve as venues for sports and entertainment experiences.
Investors, analysts and gaming industry followers can use this BALY news page to monitor earnings reports, transaction announcements, financing developments and property-level initiatives, and to track how these disclosures may relate to Bally’s strategic direction and operational performance over time.
Bally's Corporation (NYSE: BALY) has launched a modified "Dutch auction" tender offer to repurchase common shares for cash, with prices set between $19.25 and $22.00. The total maximum purchase price is $190 million, and the offer will expire on July 22, 2022. If fully subscribed, between 16.4% to 18.8% of its outstanding shares may be acquired. The company intends to use cash reserves and potentially borrowings to fund this acquisition. Shareholder participation decisions will be disclosed six business days before the offer's expiration.
UNITE HERE Local 54 has launched a website, ACTravelAlert.org, to inform travelers about potential labor disputes in Atlantic City as casino contract negotiations approach. With gaming profits back to pre-pandemic levels, workers are pushing for significant wage raises, with contracts for nine casinos, including Bally's (BALY) and Caesars (CZR), expiring on May 31, 2022. Union members are determined to secure better wages to cope with rising living costs, emphasizing that they have previously sacrificed pay for the industry's health.
Bally's Corporation (NYSE: BALY) has been selected by the City of Chicago as the preferred bidder for a $1.7 billion casino resort project. The project promises to deliver significant economic benefits, including an upfront payment of $40 million and annual contributions of $4 million to the city. It is projected to generate over $800 million in stabilized gaming revenue yearly, supporting local pension obligations. Additionally, the project will create 3,000 construction jobs and 3,000 permanent jobs. Bally's commitment includes a Community Investment Program, aiming to empower local investors and businesses.
Bally's Corporation reported Q1 2022 financial results with revenue of $548.3 million, significantly up from $192.3 million in Q1 2021. Net income reached $1.9 million, a turnaround from a $10.7 million loss year-over-year. Adjusted EBITDA improved to $115.0 million but saw a margin decline to 21.0% from 27.3%. The company reaffirmed its 2022 revenue guidance of $2.4 billion to $2.5 billion, now estimated towards the lower range due to foreign exchange uncertainties.
Bally's Corporation (NYSE: BALY) announced that its board has terminated consideration of Standard General's acquisition proposal for remaining shares. Instead, Bally's plans to initiate a cash tender offer valued between $300 million and $500 million, pending financing and board approval. CEO Lee Fenton expressed confidence in the company’s future, citing opportunities from recent acquisitions and strategic expansions. Standard General remains a supportive, long-term investor despite the proposal's rejection.
The Cleveland Browns have partnered with Bally's Interactive to establish a long-term sports betting agreement, pending regulatory approvals. This partnership will feature a Bally-themed lounge at FirstEnergy Stadium, the launch of the Bally Bet Sportsbook app in Ohio, and free-to-play gaming for fans. Scheduled to coincide with the anticipated sports betting launch in Ohio by January 1, 2023, it marks Bally's 18th state for online sports betting access. Both organizations aim to enhance fan engagement through innovative gaming experiences.
Bally's Corporation (NYSE: BALY) will announce its financial results for Q1 2022 on May 5, 2022, before the market opens. A conference call will take place at 8:00 a.m. EST on the same day, accessible at (877) 830-2589, with conference ID BALY1Q2022. Interested parties can also listen online via Bally's website. The company operates 14 casinos across 10 states and has a growing portfolio that includes sports betting and iGaming. Bally's is set to expand with the Tropicana Las Vegas acquisition and a new casino in State College, PA.
Snipp Interactive Inc. (TSX-V: SPN; OTCPK: SNIPF) has announced a $5 million investment from Bally's Corporation (NYSE: BALY), which will entitle Bally's to nominate a director to Snipp's board and grant them a right of first refusal on asset sales. This investment will result in Bally's owning approximately 9% of Snipp's shares. The two companies will also enter into commercial agreements, making Bally's the exclusive gaming partner for Snipp's loyalty gaming platform, Gambit. Deployment of SnippLOYALTY software across Bally's properties is set to begin in Q2 2022.
Bally's Corporation (NYSE: BALY) has completed a $150 million sale-leaseback transaction with Gaming & Leisure Properties, Inc. (GLPI) involving the Bally's Quad Cities in Rock Island, IL, and Bally's Black Hawk in Black Hawk, CO. The initial annual fixed rent for these properties is set at $12 million, with future increases expected. This strategic move enhances Bally's Master Lease with GLPI while expanding its casino portfolio, which includes 14 casinos in 10 states. The company aims to bolster its omni-channel gaming presence, furthering its growth in online sports betting and iGaming.
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.