Bally's (BALY)

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Unlocking Q1 Potential of Bally's (BALY): Exploring Wall Street Estimates for Key Metrics
ZACKSยท 2025-05-09 14:20
Core Viewpoint - Analysts forecast that Bally's (BALY) will report a quarterly loss of $0.90 per share, reflecting a year-over-year increase of 72.4%, with anticipated revenues of $612.57 million, a decline of 1% compared to the previous year [1] Financial Projections - The consensus estimate for 'Revenue- Casinos & Resorts' is projected to reach $354.10 million, indicating a year-over-year increase of 3.4% [4] - 'Revenue- International Interactive' is expected to be $209.75 million, showing a decline of 10.6% from the prior-year quarter [4] - 'Revenue- North America Interactive' is estimated at $53.90 million, suggesting a year-over-year increase of 30% [4] Adjusted EBITDAR Estimates - Analysts estimate 'Adjusted EBITDAR- International Interactive' to be $80.25 million, down from $83.53 million in the same quarter last year [5] - The estimate for 'Adjusted EBITDAR- Casinos & Resorts' is $87.80 million, compared to $89.42 million in the previous year [5] Market Performance - Over the past month, Bally's shares have declined by 17%, while the Zacks S&P 500 composite has increased by 13.7% [5] - Bally's holds a Zacks Rank 1 (Strong Buy), indicating a potential for outperformance in the upcoming period [5]
What Makes Bally's (BALY) a New Strong Buy Stock
ZACKSยท 2025-05-07 17:00
Core Viewpoint - Bally's (BALY) has received an upgrade to a Zacks Rank 1 (Strong Buy) due to an upward trend in earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system is based on a company's changing earnings picture, with the Zacks Consensus Estimate tracking EPS estimates from sell-side analysts [1][2]. - Changes in future earnings potential, reflected in earnings estimate revisions, are strongly correlated with near-term stock price movements, particularly influenced by institutional investors [4]. Bally's Earnings Outlook - Bally's is expected to earn -$1.35 per share for the fiscal year ending December 2025, representing a 76.3% change from the previous year's reported number [8]. - Over the past three months, the Zacks Consensus Estimate for Bally's has increased by 62%, indicating a positive trend in earnings estimates [8]. Zacks Rank System - The Zacks Rank stock-rating system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [7]. - Only the top 5% of Zacks-covered stocks receive a 'Strong Buy' rating, indicating superior earnings estimate revision features [9][10].
Bally's Corporation enters into a binding agreement with The Star for AUD 300 Million Strategic Capital Investment via Convertible Notes and Subordinated Debt
Prnewswireยท 2025-04-07 11:35
Core Viewpoint - Bally's Corporation has entered into a binding term sheet with The Star Entertainment Group for a strategic capital investment of AUD $300 million (approximately USD $187 million) through subordinated convertible notes and subordinated debt [1][7]. Transaction Overview - The transaction involves a multi-tranche issuance of notes with an aggregate principal value of AUD $300 million [1][7]. - Bally's will invest in two tranches, with the first tranche including convertible notes and subordinated debt [7][14]. - Upon conversion of the notes, Bally's could own approximately 56.7% of The Star's fully diluted share capital [5][7]. Strategic Intent - The transaction aims to revitalize The Star's operations and enhance its long-term potential, leveraging Bally's operational expertise [4][5]. - Bally's intends to work collaboratively with regulators and stakeholders to support The Star's turnaround [4][6]. Financial Details - The first tranche includes: - Tranche 1A: AUD $22.3 million (approximately USD $13.9 million), convertible into shares representing 9.71% of The Star's pre-issue capital [7][14]. - Tranche 1B: Convertible into shares representing 4.85% of The Star's pre-issue capital [7]. - Tranche 1C: Subordinated non-convertible debt of AUD $66.6 million (approximately USD $41.5 million) [14]. - The second tranche consists of AUD $266.6 million (approximately USD $166.2 million), convertible into shares representing 50.3% of The Star's pre-issue capital [14]. Approval Process - The issuance and conversion of certain tranches of notes are subject to shareholder and regulatory approvals [6][8]. - A shareholder meeting is expected to be held by The Star in the coming months [6]. Company Background - The Star Entertainment Group is a leading Australian entertainment and gaming company, operating casino and resort properties in major cities [3][10]. - Bally's Corporation operates 19 casinos across 11 states in the U.S. and has a growing international presence [12][13].
Bally's Corporation: All In
Seeking Alphaยท 2025-04-05 12:06
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]
Bally's (BALY) - 2024 Q4 - Annual Report
2025-03-17 20:51
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]
Bally's Appoints New Executive VP and Chief Financial Officer
Prnewswireยท 2025-03-11 20:05
Core Insights - Bally's Corporation has appointed Mira Mircheva as Executive Vice President and Chief Financial Officer, pending regulatory approvals [1] - Mira Mircheva has over 25 years of experience in finance, previously serving as CFO of The Queen Casino & Entertainment and holding positions at Standard General and Goldman Sachs [2] - Bally's CEO Robeson Reeves and Chairman Soo Kim expressed confidence in Mircheva's ability to enhance the company's financial position and operational efficiency [3] Company Overview - Bally's Corporation is a global casino-entertainment company operating 19 casinos across 11 states, a golf course in New York, and a horse racetrack in Colorado [4] - The company holds OSB licenses in 13 jurisdictions in North America and has expanded its international reach with the acquisition of Aspers Casino in the UK [4] - Bally's operates a sports betting platform (Bally Bet), an iCasino platform (Bally Casino), and has a significant stake in Intralot S.A., a global lottery management business [4] Operational Details - Bally's employs approximately 11,500 staff and operates around 17,700 slot machines, 630 table games, and 3,950 hotel rooms [5] - The company has rights to developable land in Las Vegas at the site of the former Tropicana Las Vegas [5]
Bally's (BALY) - 2024 Q4 - Annual Results
2025-03-05 21:17
Revenue Performance - Company-wide revenue for Q4 2024 was $580.4 million, a decrease of 5.1% year-over-year[6]. - Casinos & Resorts revenue was $324.4 million, down 5.2% year-over-year, while International Interactive revenue declined 9.1% to $214.5 million[6]. - Total revenue for Q4 2024 was $580,365,000, a decrease of 5.1% from $611,670,000 in Q4 2023[20]. - International Interactive revenue for Q4 2024 was $214,477,000, down 9.1% from $235,980,000 in Q4 2023; adjusted revenue increased to $193,495,000 from $171,393,000[27]. - The Queen's four properties generated Q4 2024 revenue of $57.6 million and full-year revenue of $225.2 million[6]. Adjusted EBITDAR - Adjusted EBITDAR for the Casinos & Resorts segment declined 14.6% year-over-year to $80.9 million due to higher costs and lower revenue flow-through[7]. - Adjusted EBITDAR for Casinos & Resorts in Q4 2024 was $80,857,000, a decline of 14.6% compared to $94,656,000 in Q4 2023[20]. - U.K. online revenue grew 11.3%, contributing to a total International Interactive Adjusted EBITDAR of $81.6 million, down 12.4% year-over-year[8]. - The North America Interactive segment reported an Adjusted EBITDAR loss of $12.3 million, impacted by the transition to a new unified platform[9]. North America Interactive Segment - North America Interactive revenue increased by 24.4% year-over-year to $41.5 million[6]. - North America Interactive segment reported a loss of $12,345,000 in Q4 2024, compared to a loss of $9,844,000 in Q4 2023[20]. Cost Management and Operational Efficiency - The company aims to optimize its cost structure and enhance operational efficiency to create long-term value following the acquisition of Queen's assets[9]. - The company incurred $30.3 million in rent expense for Q4 2024 related to triple net leases[21]. Capital Expenditures and Debt - Capital expenditures for Q4 2024 were $44,070,000, slightly down from $45,252,000 in Q4 2023[25]. - Long-term debt, including current portion, decreased to $3,318,773,000 in 2024 from $3,662,635,000 in 2023[24]. - Cash and cash equivalents increased to $171,233,000 in 2024 from $163,194,000 in 2023[24]. Casino Developments - The construction of the permanent Chicago casino has commenced, with the demolition of the Tropicana site now complete[6]. - Bally's has received final approval for its permanent Chicago Casino master plan and is progressing on the integrated resort master plan for the Tropicana site[9]. Gaming Licenses and Currency Swaps - The company recognized $851,000 for the acquisition of gaming licenses in Q4 2024, significantly lower than $135,335,000 in Q4 2023[25]. - The company has entered into currency swaps to convert $500 million of its Term Loan Facility to a fixed-rate Euro-denominated instrument[25].
GREATER GOOD CHARITIES AND BALLY BET ANNOUNCE THE SUCCESS OF THE INAUGURAL MILLION MEALS CAMPAIGN TO HELP FEED SHELTER PETS
Newsfilterยท 2025-03-04 14:23
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]
Despite Fast-paced Momentum, Bally's (BALY) Is Still a Bargain Stock
ZACKSยท 2025-01-28 14:56
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]
New Strong Sell Stocks for November 29th
ZACKSยท 2024-11-29 11:20
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]