PROVIDENCE, R.I., April 7, 2025 /PRNewswire/ -- Bally's Corporation (NYSE: BALY) ("Bally's" or the "Company") today announced that it has entered into a binding term sheet with The Star Entertainment Group Limited (ASX: SGR) ("The Star") comprising a multi-tranche issuance of subordinated convertible notes and subordinated debt (together the "Notes") with an aggregate principal value of AUD $300 million (approximately USD $187 million1) (the "Transaction"). View PDF Bally’s Corporation enters into a bin ...

Group 1 - The company is experiencing a significant turnaround, moving from the brink of bankruptcy to acquiring casinos in Black Hawk and adding four QC&E properties [1] - The company specializes in analyzing restaurant stocks across various segments, including QSR, fast casual, casual dining, fine dining, and family dining [1] - Advanced analytical models and specialized valuation techniques are employed to provide detailed insights and actionable strategies for investors [1] Group 2 - The company actively engages in academic and journalistic initiatives, contributing to institutions that promote individual and economic freedom [1] - Previous contributions included discussions on monetary policy, financial education, and financial modeling aimed at making these subjects accessible to a broader audience [1]

Financial Performance - Total revenue for 2024 was $2,450.5 million, slightly up from $2,449.1 million in 2023, and significantly higher than $2,255.7 million in 2022[261] - The net loss for 2024 increased to $567.8 million compared to a net loss of $187.5 million in 2023 and $425.5 million in 2022[261] - Gaming revenue for 2024 was $2,051.7 million, an increase of $59.6 million from $1,992.0 million in 2023[263] - Non-gaming revenue decreased to $398.8 million in 2024 from $457.0 million in 2023, reflecting a decline of $58.2 million[263] - Total revenue for the year ended December 31, 2024 was $2,450,478, a slight increase of $1,405 or 0.1% compared to $2,449,073 in 2023[264] - Net loss for the year ended December 31, 2024 was $567.8 million, compared to a net loss of $187.5 million in 2023, representing an increase in net loss as a percentage of revenue from 7.7% to 23.2%[273] - Adjusted EBITDA for the year ended December 31, 2024 was $495.6 million, a decrease of $31.7 million or 6.0% from $527.3 million in 2023[274] - Adjusted EBITDAR for the Casinos & Resorts segment decreased by $58.5 million or 13.6% to $370.5 million in 2024 compared to $429.0 million in 2023[275] Operational Highlights - Consolidated Adjusted EBITDA is used as a key performance indicator, reflecting the company's core operating results and ability to service debt[258] - The company launched the Bally Bet Casino app in Rhode Island and expanded the Bally Bet sportsbook app's reach to 13 US states and Ontario[258] - The company disposed of portions of its international interactive business in Asia and transferred ownership of certain intellectual property into a purpose trust[258] - The company's total operating costs and expenses exceeded total revenue, resulting in a total operating cost percentage of 110.5% in 2024[261] - Revenue from the Casinos & Resorts segment increased by 6% to $1.01 billion, driven by the Bally's Chicago temporary casino, which contributed approximately $96.5 million[264] Financing and Investments - The company secured a $940 million financing arrangement for the construction of its flagship casino in downtown Chicago, with construction expected to begin in early 2025[258] - The company completed a sale lease-back transaction for $394.8 million in 2024, resulting in a gain of $209.8 million[306] - The company entered into a strategic construction and financing arrangement with GLP for the Bally's Chicago permanent casino, including up to $940 million in construction financing[308] - The company has committed to invest $100 million in Bally's Twin River by 2043, with $45.1 million remaining as of December 31, 2024[311] - Capital expenditures for 2024 were $199.8 million, down from $311.5 million in 2023, with a focus on the Bally's Chicago permanent facility[310] Cash Flow and Debt - Net cash provided by operating activities decreased to $114.0 million in 2024 from $188.6 million in 2023, primarily due to changes in working capital and increased foreign currency losses[289] - Net cash provided by investing activities was $97.8 million in 2024, a significant improvement from net cash used of $207.8 million in 2023, driven by a $111.7 million decrease in capital expenditures[290] - Net cash used in financing activities increased to $287.8 million in 2024 from net cash provided of $65.8 million in 2023, mainly due to higher long-term debt repayments[291] - As of December 31, 2024, the company has $1.89 billion in variable rate debt and $1.49 billion in unsecured senior notes, with a potential interest expense increase of approximately $18.9 million for a 1% rise in interest rates[328] Future Projects and Commitments - Bally's Chicago project includes approximately 3,400 slot machines, 170 table games, and 500 hotel rooms, with a total investment of at least $1.34 billion for the temporary and permanent casino[312][314] - The temporary casino commenced operations on September 9, 2023, featuring approximately 800 gaming positions and 3 food and beverage venues[312] - The company expects to spend approximately $133.6 million on the construction and development of the permanent casino, which is projected to open in 2026[312] - Annual fixed host community impact fees to the City of Chicago are set at $4.0 million, with additional performance guarantees provided by the company[313] Tax and Regulatory Matters - The effective tax rate for 2024 was (2.8)%, compared to (0.9)% in 2023, largely due to increased impairment charges within foreign entities[271] - The company's valuation allowance for deferred tax assets increased by $79.7 million during the year ended December 31, 2024, totaling $234.6 million[323] Currency and Sponsorship - Foreign currency transaction gains for the year ended December 31, 2024, were $10.3 million, compared to losses of $11.0 million in 2023[331] - The cumulative minimum obligation for interactive technology partnerships is approximately $52.4 million, extending through 2029[316] - The company has sponsorship commitments totaling $125.4 million, with contracts extending through 2036[315] Impairment and Asset Valuation - Impairment charges recorded in 2024 totaled $248.9 million, including $125.9 million related to intangible assets and goodwill in the International Interactive segment[267] - The carrying value of the International Interactive reporting unit was $2.3 billion as of October 1, 2024, with an estimated fair value exceeding this amount by 12%[321]

PROVIDENCE, R.I., March 11, 2025 /PRNewswire/ -- Bally's Corporation (NYSE: BALY) today announced that Mira Mircheva has been appointed as Executive Vice President ("EVP") and Chief Financial Officer ("CFO"), subject to regulatory approvals. Marcus Glover, Bally's current CFO, has been appointed to serve as Bally's Executive Vice President, Global Operations Group. Ms. Mircheva is a senior executive in the hospitality and gaming industry with more than 25 years of experience in finance. Most recently, Ms. M ...

Exhibit 99.1 Bally's Corporation Announces Fourth Quarter and Full Year 2024 Results PROVIDENCE, R.I., - March 5, 2025 - Bally's Corporation (NYSE: BALY) today reported financial results for the fourth quarter and full year ended December 31, 2024. Fourth Quarter 2024 Results and Operating Highlights Bally's has cancelled its fourth quarter 2024 earnings call which was previously scheduled for today, Wednesday, March 5, 2025 at 4:30 p.m. Eastern Time. Summary of Financial Results | | Quarter Ended December ...

Group 1: Campaign Overview - Greater Good Charities and Bally Bet collaborated to raise 1 million meals for shelter pets across the country during the football season [1][2] - The campaign engaged football fans and pet lovers through social media, resulting in 50 to 100 pet meals donated per interaction [2] Group 2: Impact and Contributions - The campaign allowed animal shelters to redirect resources towards critical needs, such as medical care for pets [2] - A special partnership with the Cleveland Browns contributed 1,000 pet meals for every point scored during games [2] Group 3: Organizational Background - Greater Good Charities is a 501(c)(3) nonprofit that has invested over $750 million in impact since 2007, helping communities in 121 countries [3] - Bally's Corporation operates 19 casinos across 11 states and has a growing omni-channel presence, including a sports betting platform [4]

Core Viewpoint - Momentum investing focuses on "buying high and selling higher" rather than traditional strategies of "buying low and selling high" [1] Group 1: Momentum Investing Strategy - Momentum investors often face challenges in determining the right entry point for fast-moving stocks, which can lead to limited upside or downside risks [2] - A safer approach involves investing in bargain stocks that exhibit recent price momentum, utilizing tools like the Zacks Momentum Style Score to identify such opportunities [3] Group 2: Bally's Corporation (BALY) Analysis - Bally's Corporation (BALY) has shown a four-week price change of 1.4%, indicating growing investor interest [4] - Over the past 12 weeks, BALY's stock has gained 3.6%, with a beta of 2.04, suggesting it moves 104% higher than the market in either direction [5] - BALY has a Momentum Score of B, indicating a favorable time to invest based on momentum [6] - The stock has a Zacks Rank 2 (Buy) due to upward trends in earnings estimate revisions, which attract more investors [7] - BALY is trading at a Price-to-Sales ratio of 0.30, suggesting it is undervalued at 30 cents for each dollar of sales [7] Group 3: Investment Opportunities - In addition to BALY, there are other stocks that meet the criteria of the 'Fast-Paced Momentum at a Bargain' screen, presenting further investment opportunities [8] - The Zacks Premium Screens offer over 45 different strategies tailored to help investors find winning stock picks [9]

Group 1 - Bally's Corporation (BALY) is a casino entertainment company with a Zacks Consensus Estimate for its current year earnings revised 85.7% downward over the last 60 days [1] - Baxter International Inc. (BAX) is a healthcare products company with a Zacks Consensus Estimate for its current year earnings revised 33.1% downward over the last 60 days [1] - Central Garden & Pet Company (CENTA) is a lawn and garden products company with a Zacks Consensus Estimate for its current year earnings revised 5.8% downward over the last 60 days [2]

Bally's Corporation (BALY) recently announced the securement of its shareholder's approval for its merger with The Queen Casino & Entertainment Inc. (QC&E), a regional gaming operator majority-owned by Standard General L.P.The merger enhances Bally’s Casino & Resorts segment while adding diversity and scale to its portfolio. Bally’s CEO Robeson Reeves highlighted the synergies, noting that the deal positions the company for enhanced revenues, EBITDAR growth and long-term value creation.The merger includes t ...

Business Operations - As of September 30, 2024, the company owns and manages 15 land-based casinos across 10 states in the US, with approximately 14,900 slot machines and 550 table games [195]. - The company entered into a Merger Agreement on July 25, 2024, involving the merger with Queen Casino & Entertainment, which will enhance its market presence [198]. - On October 31, 2024, the company agreed to carve out components of its interactive business in Asia for €30 million, focusing on North American and European markets [199]. - The company aims to increase revenues by enhancing guest experiences at its casinos and resorts, which includes popular games and high-quality service [196]. - The company has a strategic focus on interactive gaming as a significant growth opportunity, particularly in regulated markets [196]. Financial Performance - Consolidated Adjusted EBITDA for Q3 2024 was $630.0 million, slightly down from $632.5 million in Q3 2023, while total revenue for the first nine months of 2024 was $1,870.1 million, compared to $1,837.4 million in the same period of 2023 [214]. - The net loss for Q3 2024 was $247.9 million, compared to a net loss of $61.8 million in Q3 2023, indicating a significant decline in profitability [214]. - Total gaming revenue for Q3 2024 was $523.9 million, an increase of $15.0 million from $508.9 million in Q3 2023, while total non-gaming revenue decreased to $106.1 million from $123.6 million [218]. - General and administrative expenses increased to $273.6 million in Q3 2024, up from $230.6 million in Q3 2023, reflecting a rise in operational costs [218]. - The company reported a loss from operations of $157.7 million in Q3 2024, compared to income from operations of $37.2 million in Q3 2023, highlighting a significant operational challenge [214]. Cost Management - Gaming expenses as a percentage of gaming revenue remained stable at 45% for both Q3 2024 and Q3 2023, indicating consistent cost management in gaming operations [218]. - Interest expense, net, was reported at (11.7)% of total revenue for Q3 2024, slightly higher than (11.2)% in Q3 2023, indicating increased borrowing costs [216]. - The company’s total operating costs and expenses for Q3 2024 were 125% of total revenue, compared to 94.1% in Q3 2023, suggesting rising operational inefficiencies [216]. - The loss before income taxes for Q3 2024 was (44.7)%, a significant drop from (2.8)% in Q3 2023, reflecting deteriorating financial performance [216]. Revenue and Earnings Metrics - Consolidated Adjusted EBITDAR, which includes rent expenses, is used as a valuation metric and is critical for assessing the company's equity value in the gaming industry [212]. - Total revenue for Q3 2024 decreased 0.4% to $630.0 million, while total revenue for the first nine months increased 1.8% to $1.87 billion compared to the same periods in 2023 [219]. - The Bally's Chicago temporary casino contributed approximately $32.6 million and $64.2 million to revenue for Q3 and the first nine months of 2024, respectively [219]. - Adjusted EBITDAR for the Casinos & Resorts segment decreased by $17.7 million to $100.4 million for Q3 2024, and by $44.7 million to $289.7 million for the first nine months compared to the prior year [230]. Cash Flow and Investments - Net cash provided by operating activities for the nine months ended September 30, 2024, was $76.2 million, a decrease of 35.6% compared to $118.4 million for the same period in 2023 [239]. - Net cash used in investing activities for the nine months ended September 30, 2024, was $191.1 million, an increase of $188.8 million compared to $2.2 million in the prior year [241]. - Net cash provided by financing activities for the nine months ended September 30, 2024, was $75.7 million, compared to net cash used of $79.6 million in the same period of 2023 [242]. - The company issued $750 million aggregate principal amount of 5.625% senior notes due 2029 and $750 million aggregate principal amount of 5.875% senior notes due 2031 [245]. Regulatory and Compliance - The company is subject to a Regulatory Agreement with the Rhode Island Department of Business Regulation, which includes financial covenants and operational restrictions [205]. - The effective tax rate for 2024 was 0.8%, significantly lower than the 62.7% in 2023, primarily due to an increase in the valuation allowance [226]. Future Commitments and Plans - The Company plans to sell and lease back its Bally's Twin River property for $735 million, with initial annual rent of $58.8 million, expected to be completed by 2026 [261]. - The Company has a commitment to invest $100 million in Bally's Twin River over the term of its master contract, with approximately $48.2 million remaining as of September 30, 2024 [264]. - The Company has entered into a Binding Term Sheet with GLP for up to $940 million in construction financing for the Bally's Chicago permanent casino [260]. - The Company is required to pay annual fixed host community impact fees of $4.0 million in connection with the Bally's Chicago project [269].