Welcome to our dedicated page for BALYT news (Ticker: BALYT), a resource for investors and traders seeking the latest updates and insights on BALYT stock.
Bally's Corporation (BALYT) operates at the intersection of gaming, sports betting, and interactive entertainment. This news hub provides stakeholders with direct access to official announcements and market developments impacting this diversified leisure company.
Investors and industry observers will find curated updates including earnings reports, strategic partnerships, regulatory developments, and technology initiatives. Our aggregation ensures timely access to information affecting Bally's physical casino operations, digital platforms, and omnichannel growth strategies.
Content spans operational milestones across key verticals: land-based gaming expansions, sports betting platform enhancements, and corporate governance updates. Regular updates reflect Bally's position in the evolving entertainment landscape where digital innovation meets traditional hospitality.
Bookmark this page for structured access to BALYT's financial communications and market disclosures. Check back for verified updates that matter to your analysis of this gaming sector innovator.
Bally's (NYSE: BALY) reported Q4 2024 financial results, showing company-wide revenue of $580.4 million, down 5.1% year over year. The company's segments performed variably:
- Casinos & Resorts revenue declined 5.2% to $324.4 million
- International Interactive revenue fell 9.1% to $214.5 million, though UK online revenue grew 11.3%
- North America Interactive revenue increased 24.4% to $41.5 million
Notable developments include groundbreaking of the permanent Chicago casino, completion of Tropicana Las Vegas demolition, and acquisition of Queen Casino & Entertainment's four properties, which generated Q4 revenue of $57.6 million. The company faces challenges in Chicago Temporary Casino performance and Rhode Island visitation due to bridge construction, while showing strength in markets like Kansas City with its new high-limit room.
Bally's (NYSE: BALY) has completed its merger with The Queen Casino & Entertainment, resulting in Queen shareholders receiving 30.5 million shares. The company paid cash consideration of $18.25 per share to holders of 22.8 million outstanding shares, financed through $500 million in senior secured notes and available funds.
Following the transaction, 17.9 million shareholders retained their stock through rollover election, bringing the total outstanding shares to 48.4 million. Additionally, warrants for 11.6 million shares remain outstanding. The company now operates 19 casinos across 11 U.S. states, including a golf course in New York and a horse racetrack in Colorado.
Two properties, Belle of Baton Rouge and Casino Queen Marquette, are undergoing land-side conversions expected to complete in 2025. Bally's maintains online sports betting licenses in 13 North American jurisdictions and operates Bally Bet and Bally Casino platforms.
Bally's (NYSE: BALY) has completed its second election period for shareholders to keep their shares outstanding following the planned merger with Casino Queen. An additional 447,910 shares were elected in this period, bringing the total to 17,940,083 shares of common stock and warrants for 11,191,061 shares that will remain outstanding after the merger.
Upon completion of the merger, approximately 30.5 million shares will be issued to Casino Queen stockholders and warrant holders, resulting in about 48.4 million total pro forma shares outstanding, plus warrants for approximately 11.6 million shares. Shares under Rolling Share Elections will trade as 'BALY.T' until the merger's completion, when they will revert to 'BALY'. The transaction is expected to close in Q1 2025, subject to regulatory approvals.
Bally's (NYSE: BALY) has completed the sale lease-back of real property interests for Bally's Kansas City and Bally's Shreveport to Gaming and Leisure Properties (GLPI) in a transaction valued at $395 million. The deal includes $7 million in LP units and $388 million in cash, with $56 million reimbursement for prior capital expenditures.
The proceeds will be used to reduce the company's $620 million revolving credit facility (of which $350 million was drawn as of September 30, 2024) and fund capital expenditures. The properties have been added to a new Master Lease with an initial annual cash rent of $32.2 million, including customary escalators.
Bally's (NYSE: BALY) has announced a new election period for stockholders to choose between receiving $18.25 per share cash merger consideration or keeping their shares outstanding following the merger transaction approval. The new election period runs from December 11, 2024, to January 17, 2025. Stockholders who elect to keep their shares will receive new CUSIP-numbered shares tradeable on NYSE under BALY.T. As of November 19, 2024, approximately 17.5 million shares had already elected to roll over, including 8.8 million shares from Standard General L.P. and affiliates. The merger closing is expected in Q1 2025, subject to regulatory approvals.
