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 news coverage focuses on the company's activities across land-based gaming, online sports betting, and iGaming operations. The company generates news through property acquisitions, new market entries when states authorize gaming, and partnerships with sports leagues or media companies. Regulatory developments at the state level frequently impact Bally's business and produce newsworthy announcements.
News related to Bally's typically includes earnings reports detailing performance across land-based and digital segments, announcements of new gaming licenses in states that have legalized sports betting or casino gaming, and updates on property renovations or expansions. The company's acquisition activity creates headlines as it enters new geographic markets or adds properties to its portfolio. Partnership announcements with professional sports organizations, media companies, or technology providers also generate coverage.
Investors tracking Bally's news monitor developments in state legislation affecting gaming expansion, competitive dynamics as new operators enter markets, and the company's performance in customer acquisition for its online platforms. Regulatory filings provide insight into licensing approvals, compliance matters, and financial performance metrics across different operating segments. The news feed captures material events reported through 8-K filings, quarterly earnings through 10-Q reports, and significant corporate actions.
Following Bally's news helps investors understand how regulatory changes affect the company's addressable market, track the integration of acquired properties, and monitor the competitive position in both traditional casino markets and emerging digital betting markets. The news coverage provides context on an industry shaped by state-by-state regulation and evolving consumer preferences in gaming and entertainment.
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.
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.
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