[Financial Highlights](index=1&type=section&id=Second%20Quarter%202025%20and%20Recent%20Highlights) Bally's reported **$657.5 million** in Q2 2025 revenue, a **5.8% increase** year-over-year, primarily driven by Casinos & Resorts and North America Interactive segments, with adjusted growth in International Interactive Q2 2025 Revenue by Segment (vs. Q2 2024) | Segment | Q2 2025 Revenue (in thousands) | Q2 2024 Revenue (in thousands) | YoY Change | | :--- | :--- | :--- | :--- | | Casinos & Resorts | $393,333 | $343,051 | +14.7% | | International Interactive | $206,066 | $229,396 | -10.2% | | North America Interactive | $56,502 | $46,500 | +21.5% | | **Total Revenue** | **$657,534** | **$621,657** | **+5.8%** | - The company completed its merger with The Queen Casino & Entertainment on February 7, 2025, which contributed to the revenue growth[5](index=5&type=chunk) - Excluding the impact of the 2024 divestiture of its Asia interactive business, the International Interactive segment's revenue grew by **10.0%** year-over-year[7](index=7&type=chunk) [Management Commentary & Strategic Developments](index=1&type=section&id=Management%20Commentary%20%26%20Strategic%20Developments) Management highlighted progress in "Bally's 2.0" transformation, including Chicago resort construction, the **€2.7 billion** Intralot S.A. agreement, **AUD 200 million** investment in Star Entertainment, and pursuit of a **$4 billion** Bronx resort license - Construction is in full swing at the permanent gaming and entertainment resort in Chicago, which will feature 3,400 slots, 170+ table games, and a 500-room hotel[6](index=6&type=chunk) - Announced a landmark agreement for Intralot S.A. to acquire Bally's International Interactive business for **€2.7 billion** in cash and stock[7](index=7&type=chunk)[8](index=8&type=chunk) - Made an **AUD 200 million** strategic capital investment in Star Entertainment Group Limited, a leading Australian gaming company[10](index=10&type=chunk) - Continuing to pursue a New York City gaming license for a proposed **$4 billion** casino and resort in the Bronx[11](index=11&type=chunk) [Segment Performance Review](index=2&type=section&id=Second%20Quarter%20Financial%20Review) Casinos & Resorts revenue grew **14.7%** to **$393.3 million**, North America Interactive revenue increased **21.5%** to **$56.5 million** with positive EBITDAR, while International Interactive revenue declined but showed underlying growth [Casinos & Resorts](index=2&type=section&id=Casinos%20%26%20Resorts) Casinos & Resorts revenue increased **14.7%** to **$393.3 million** due to the Queen merger, with Segment Adjusted EBITDAR growing **6.2%** to **$106.0 million** Casinos & Resorts Q2 2025 Performance | Metric | Q2 2025 (in thousands) | Q2 2024 (in thousands) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $393,333 | $343,051 | +14.7% | | Segment Adjusted EBITDAR | $105,967 | $99,801 | +6.2% | - Growth was primarily driven by the addition of four regional gaming properties from the Queen merger earlier in 2025[12](index=12&type=chunk) - Strong performance was noted in Quad Cities, Vicksburg, and Baton Rouge, while properties in Shreveport, Evansville, and Dover experienced increased competition[12](index=12&type=chunk) [International Interactive](index=2&type=section&id=International%20Interactive) International Interactive revenue declined **10.2%** to **$206.1 million** due to divestiture, but grew **10.0%** on an adjusted basis, with Segment Adjusted EBITDAR up **1.1%** to **$82.2 million** International Interactive Q2 2025 Performance | Metric | Q2 2025 (in thousands) | Q2 2024 (in thousands) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $206,066 | $229,396 | -10.2% | | Segment Adjusted EBITDAR | $82,205 | $81,292 | +1.1% | - U.K. online revenue rose **8.8%** (**2.8%** in constant currency) versus Q2 2024, driven by strong player retention and monetization[13](index=13&type=chunk) - Excluding the revenue from the divested Asia business, International Interactive revenue grew **10.0%** year-over-year[13](index=13&type=chunk) [North America Interactive](index=3&type=section&id=North%20America%20Interactive) North America Interactive revenue increased **21.5%** to **$56.5 million**, achieving positive Adjusted EBITDAR of **$2.5 million** from a prior-year loss North America Interactive Q2 2025 Performance | Metric | Q2 2025 (in thousands) | Q2 2024 (in thousands) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $56,502 | $46,500 | +21.5% | | Segment Adjusted EBITDAR | $2,484 | ($2,196) | N/A (Turned to profit) | - The company is live with iGaming in New Jersey, Pennsylvania, Rhode Island, and Ontario[14](index=14&type=chunk) - The BallyBet sports offering is live in 13 states, including New Jersey and Ontario[14](index=14&type=chunk) [Financial Statements & Data](index=5&type=section&id=Financial%20Statements%20%26%20Data) This section provides detailed financial tables, including segment revenue, Adjusted EBITDAR, balance sheet data, cash flow information, and supplemental combined financial data for comparability [Revenue and Segment Adjusted EBITDAR](index=5&type=section&id=Revenue%20and%20Segment%20Adjusted%20EBITDAR) This section presents detailed revenue and Segment Adjusted EBITDAR breakdowns for Q2 and six months ended June 30, 2025, comparing Successor, Predecessor, and Pro Forma combined results Revenue & Adjusted EBITDAR (Successor/Predecessor) | (in thousands) | Three Months Ended Jun 30, 2025 (Successor) | Three Months Ended Jun 30, 2024 (Predecessor) | | :--- | :--- | :--- | | **Total Revenue** | **$657,534** | **$621,657** | | Casinos & Resorts Adj. EBITDAR | $105,967 | $99,801 | | International Interactive Adj. EBITDAR | $82,205 | $81,292 | | North America Interactive Adj. EBITDAR | $2,484 | ($2,196) | Pro Forma Combined Revenue & Adjusted EBITDAR (Six Months) | (in thousands) | Six Months Ended Jun 30, 2025 | Six Months Ended Jun 30, 2024 | | :--- | :--- | :--- | | **Total Revenue** | **$1,268,602** | **$1,353,863** | | Casinos & Resorts Adj. EBITDAR | $206,536 | $225,525 | | International Interactive Adj. EBITDAR | $159,340 | $164,824 | | North America Interactive Adj. EBITDAR | ($4,103) | ($4,139) | [Selected Financial Information (Balance Sheet & Cash Flow)](index=6&type=section&id=Selected%20Financial%20Information%20%28Balance%20Sheet%20%26%20Cash%20Flow%29) This section details key balance sheet items as of June 30, 2025, including **$174.6 million** in cash and **$3.58 billion** in long-term debt, alongside post-merger cash flow data Balance Sheet Data (in thousands) | Item | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $174,567 | $171,233 | | Long-term debt, including current portion | $3,581,169 | $3,318,773 | Cash Flow Data (Successor Period: Feb 8 - Jun 30, 2025) | Item | Amount (in thousands) | | :--- | :--- | | Capital Expenditures | $79,422 | | Cash paid for capitalized software | $20,533 | | Cash payments for triple net operating leases | $69,983 | [Supplemental Unaudited Condensed Combined Financial Information](index=7&type=section&id=Supplemental%20Unaudited%20Condensed%20Combined%20Financial%20Information) This section provides supplemental combined financial information, integrating Bally's and Queen's historical results for enhanced comparability, and includes a reconciliation for Adjusted International Interactive revenue - The supplemental information combines historical results of Bally's and Queen to reflect the merger as if it occurred on January 1, 2024, for better comparability[36](index=36&type=chunk) Non-GAAP Adjusted International Interactive Revenue (Q2 2025 vs Q2 2024) | (in thousands) | Q2 2025 | Q2 2024 | | :--- | :--- | :--- | | International Interactive revenue (GAAP) | $206,066 | $229,396 | | Less: Revenue from divested markets | $0 | ($48,528) | | Less: Licensing revenue recognized | ($7,046) | $0 | | **Adjusted International Interactive revenue** | **$199,020** | **$180,868** | [Non-GAAP Financial Measures](index=3&type=section&id=Reconciliation%20of%20GAAP%20Measures%20to%20Non-GAAP%20Measures) The company utilizes non-GAAP measures, including Adjusted EBITDA and Segment Adjusted EBITDAR, to provide a clearer understanding of core operating results and facilitate period-to-period comparisons - Defines "Adjusted EBITDA" as earnings before interest, taxes, depreciation, amortization, non-operating income/expense, acquisition costs, share-based compensation, and other certain gains or losses[16](index=16&type=chunk) - Defines "Segment Adjusted EBITDAR" as Adjusted EBITDA plus rent expense associated with triple net operating leases, a key valuation metric for the Casinos & Resorts segment in the gaming industry[17](index=17&type=chunk)[18](index=18&type=chunk)

Core Insights - Analysts project that Bally's (BALY) will report a quarterly loss of -$0.23 per share, marking a 72.3% increase in losses year over year, with revenues expected to reach $653.85 million, a 5.2% increase from the same quarter last year [1] Earnings Projections - The consensus EPS estimate for the quarter has been revised upward by 3.1% in the past 30 days, indicating a reassessment of initial estimates by covering analysts [2] - Changes in earnings projections are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate trends and short-term stock price movements [3] Revenue Estimates - Analysts estimate 'Revenue- Casinos & Resorts' will reach $394.25 million, reflecting a 14.9% increase from the prior-year quarter [5] - 'Revenue- International Interactive' is projected at $201.90 million, indicating a 12% decrease year over year [5] - 'Revenue- North America Interactive' is expected to be $56.85 million, showing a 15.5% increase year over year [5] Adjusted EBITDAR Estimates - 'Adjusted EBITDAR- International Interactive' is predicted to be $79.70 million, down from $81.29 million reported in the same quarter last year [6] - 'Adjusted EBITDAR- Casinos & Resorts' is expected to be $119.90 million, compared to $99.80 million reported in the same quarter last year [6] Stock Performance - Bally's shares have decreased by 14.1% over the past month, contrasting with the Zacks S&P 500 composite's increase of 1.9%, and the company holds a Zacks Rank 4 (Sell), indicating expected underperformance in the near term [6]

Core Viewpoint - Bally's (BALY) has received an upgrade to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its 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 changes in earnings estimates, which are strongly correlated with stock price movements, particularly due to institutional investors' reliance on these estimates for valuation [4][6]. - An increase in earnings estimates typically leads to higher fair value for a stock, prompting institutional investors to buy or sell, thus affecting stock prices [4]. Recent Performance and Future Outlook - For the fiscal year ending December 2025, Bally's is expected to earn -$1.65 per share, unchanged from the previous year, but the Zacks Consensus Estimate has increased by 28.4% over the past three months, indicating a positive trend in earnings expectations [8]. - The upgrade to Zacks Rank 1 places Bally's in the top 5% of Zacks-covered stocks, suggesting potential for market-beating returns in the near term [10]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a proven track record of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [7]. - The system maintains a balanced distribution of ratings, ensuring that only the top 20% of stocks are recognized for superior earnings estimate revisions [9][10].

Company Overview and Strategy - Twin River Worldwide Holdings (TRWH) has evolved from a single property operator in 2013 to operating 10 casino properties across 5 states[16, 18] - TRWH is pursuing a strategy of growth and diversification through strategic and accretive M&A, including pending acquisitions of Bally's Atlantic City, Eldorado Shreveport, and others[11, 14, 61, 63] - TRWH maintains a prudent fiscal policy with total available liquidity of $490 million as of September 30, 2020[16] COVID-19 Impact and Operational Status - TRWH's casino properties were closed due to COVID-19, with reopening dates ranging from May 21, 2020, to June 17, 2020[15] - Current operations are subject to various restrictions, including occupancy limits (e g, 50% of building capacity) and limitations on slot machine usage (e g, 43% of slot units)[15] Financial Performance and Capital Allocation - The company has returned over $265 million of capital back to shareholders since inception through share repurchases and quarterly dividends[153] - TRWH repurchased 2.5 million shares for cash at $2950 per share in Q3 2019[155] - TRWH's regulatory structure in Rhode Island and Delaware results in higher Adjusted EBITDA to cash conversion, with ~86% in 2019 compared to an industry average of ~80%[151] Q3 2020 Financial Results - Revenue for Q3 2020 was $116624 million, compared to $129309 million in Q3 2019[171] - Net income for Q3 2020 was $6723 million, compared to $6999 million in Q3 2019[171] - Adjusted EBITDA for Q3 2020 was $38005 million, compared to $35598 million in Q3 2019[171]

Acquisition and Partnership Highlights - Bally's will acquire 100% ownership of BetWorks for $125 million, with 50% in cash and 50% in equity[8] - Bally's and Sinclair are entering into a media partnership, integrating Bally's content into Sinclair's broadcast stations and sports networks[8] - Sinclair will receive warrants and options to own a minority stake in Bally's[8] Market Opportunity - Bally's is positioned to capture a significant share of the ~$50 billion U S sports betting and iGaming market opportunity[27] - The U S online sports betting and iGaming market is estimated to reach $2 6 billion in 2020[28] - The U S online sports betting and iGaming market generated $1 0 billion in 2019[28] Sinclair Broadcast Group Overview - Sinclair Broadcast Group has coverage of ~70% of total U S households[32] - Sinclair's RSNs broadcast over 4,600 professional sports games per year[35] - Sinclair owns, operates, and/or provides services to 190 television stations[39] Bally's Strategic Positioning - Bally's has a strategic footprint in states that have generated ~80% of the US sports betting revenues[13] - Bally's database size is ~14 million[14]

Core Viewpoint - The earnings season for casino stocks has been generally positive, with companies like MGM Resorts and Las Vegas Sands performing well, while Bally's Corp has struggled, missing revenue targets for the sixth consecutive quarter but surprising with a profit [1][3]. Company Performance - Bally's reported revenue of $580.4 million, down 5.1% year-over-year, with 78% of this revenue coming from its casino business, which also saw a decline of 4.2% year-over-year [5]. - Despite missing revenue targets, Bally's achieved a profit of 58 cents per share, contrasting with analysts' expectations of a loss of 76 cents per share [3]. - The stock price of Bally's has only decreased by 2% following the earnings report, indicating some resilience in the face of volatility [4]. Market Context - The consumer discretionary sector is under scrutiny as investors assess the state of consumer spending, particularly in entertainment and gambling for 2024 and beyond [2]. - Bally's is expanding its omnichannel business, holding online sports betting licenses in 13 jurisdictions and growing its international presence through its Interactive International division [6]. Growth Strategy - Bally's is optimistic about its growth through acquisition strategy, having completed transactions that could add nearly 50% to its topline in the current year [7]. - The company has not held an earnings call for the third consecutive quarter, which has left analysts to interpret results without additional commentary [13]. Analyst Sentiment - Analysts have maintained a cautious stance on Bally's, with Barclays lowering its price target from $14 to $13 while keeping an Equal Weight rating [14]. - Bally's is not currently favored among top-rated analysts, who suggest alternative stocks for investment [15].

Company Overview - As of March 31, 2025, the company owns and manages 19 casinos across 11 states in the US and one casino in the UK, with a recent merger adding four additional casinos to its portfolio[205]. - The company has a significant stake in Intralot S.A., a global lottery management business, which diversifies its revenue streams[205]. - The company completed a merger with The Queen Casino & Entertainment Inc. on February 7, 2025, enhancing its market presence[208]. Financial Performance - Total revenue for the Successor period from February 8, 2025 to March 31, 2025 was $368.7 million, a decrease of 5% or $29.3 million from $618.5 million in the three months ended March 31, 2024[226]. - Net income for the Successor period was $34.5 million, compared to a net loss of $51.0 million for the Predecessor period and a net loss of $173.9 million for the three months ended March 31, 2024[234]. - Gaming revenue for the Successor period was $313.8 million, up 3% or $8.8 million from the previous year, while International Interactive revenue decreased by 22% or $42.9 million[226]. - Adjusted EBITDA for the Successor period was $83.3 million, compared to $116.5 million for the three months ended March 31, 2024[235]. - Adjusted EBITDAR for the Casinos & Resorts segment was $71.5 million for the Successor period, down from $89.4 million in the three months ended March 31, 2024[236]. - Total revenue for the Successor period from February 8, 2025 to March 31, 2025 was $368.7 million, a significant increase from $220.5 million in the Predecessor period[239]. - Adjusted EBITDA for the Successor period was $83.3 million, compared to $24.4 million in the Predecessor period, reflecting a strong operational performance[239]. - The effective tax rate for the Successor period was 155.2%, reflecting a benefit for income tax of $(97.1) million[232]. Expenses and Costs - General and administrative expenses increased by 11% or $26.4 million to $160.4 million compared to $248.4 million in the three months ended March 31, 2024, primarily due to costs related to the Merger Agreement[228]. - Depreciation and amortization expenses decreased by 56% or $89.9 million to $69.8 million, driven by accelerated depreciation recorded in the first quarter of 2024[229]. - Total operating costs and expenses for the Successor period were 100.5% of total revenue, down from 112.0% in the previous year[222]. - Interest expense increased to (14.0)% of total revenue for the Successor period, compared to (11.8)% in the previous year[222]. Investments and Capital Expenditures - The company is committed to investing $100 million in Rhode Island over the term of its regulatory agreement, which includes expanding Bally's Twin River and adding new amenities[215]. - Capital expenditures for the Successor period from February 8, 2025, to March 31, 2025, were $30.5 million, while the Predecessor Period from January 1, 2025, to February 7, 2025, was $16.4 million[274]. - The Company expects to spend at least $1.34 billion on the design, construction, and outfitting of its temporary casino and permanent resort and casino in Chicago[278]. - The Company committed to invest $100 million in Bally's Twin River over the term of its master contract, with approximately $45 million remaining as of March 31, 2025[275]. Debt and Financing - The Company entered into a Credit Agreement providing for a senior secured term loan facility of $1.945 billion, maturing in 2028, and a revolving credit facility of $620 million, maturing in 2026[263]. - The Company issued $500 million in first lien senior secured notes due October 2, 2028, at an annual interest rate of 11% as part of the merger financing[262]. - As of March 31, 2025, the Company had $2.02 billion of variable rate debt outstanding under its Term Loan and Revolving Credit Facilities[283]. - A hypothetical increase of 1% in the effective interest rate would cause an increase in interest expense of approximately $20.2 million over the next twelve months[283]. - As of March 31, 2025, the Company was in compliance with all applicable covenants related to its credit facilities, including maintaining a first lien secured indebtedness to Adjusted EBITDA ratio of 5.00 to 1.00 when borrowings exceed 30% of the total revolving commitment[265]. Cash Flow - Net cash provided by operating activities for the Successor period was $42.0 million, contrasting with a net cash used of $80.2 million in the Predecessor period[255]. - Cash and cash equivalents at the end of the Successor period totaled $264.7 million, up from $230.9 million at the beginning of the period[254]. - Net cash used in investing activities for the Successor period was $20.8 million, compared to $17.7 million in the Predecessor period[256]. - Financing activities provided $14.1 million in the Successor period, a 118.3% increase from $51.3 million in the three months ended March 31, 2024[257]. Regulatory and Compliance - The company operates under a regulatory agreement in Rhode Island that imposes financial covenants and operational restrictions, including a leverage ratio limit of 5.50 to 1.00[213]. - The company is focusing on the integration of acquired assets and capital deployment for strategic growth projects, positioning itself as a vertically integrated iGaming company[207]. - The company faces risks from global economic challenges, including rising inflation and interest rates, which could impact consumer spending and visitation to its properties[216]. Sponsorship and Agreements - The Company has entered into several sponsorship agreements with obligations totaling $122.7 million, extending through 2036[279].

Revenue Performance - Total revenue for the first quarter of 2025 was $589.2 million, a decrease of 4.7% year over year from $618.5 million[3] - Casinos & Resorts revenue increased by 2.6% year over year to $351.2 million[5] - International Interactive revenue declined by 18.3% year over year to $191.7 million, primarily due to the divestiture of the Asia interactive business in 2024[5] - North America Interactive revenue rose by 12.5% year over year to $44.5 million, benefiting from the addition of the Queen interactive business[5] - Total revenue for the combined company for the three months ended March 31, 2025, was $611,068,000, compared to $674,730,000 for the same period in 2024, representing a decrease of approximately 9.4%[36][39] Adjusted EBITDAR - Adjusted EBITDAR for the Casinos & Resorts segment grew by 6.3% year over year to $95.1 million[8] - U.K. online revenue increased by 4.9% year over year, while overall International Interactive Adjusted EBITDAR was down 7.7% year over year to $77.1 million[9] - Adjusted EBITDAR for the combined company for the three months ended March 31, 2025, was $100,569,000, down from $107,001,000 in the same period in 2024, indicating a decline of about 6.7%[36][39] Cash and Debt Management - Cash and cash equivalents increased to $209,727,000 as of March 31, 2025, from $171,233,000 as of December 31, 2024, reflecting a growth of approximately 22.5%[29] - Long-term debt, net, rose to $3,430,709,000 as of March 31, 2025, compared to $3,299,323,000 as of December 31, 2024, marking an increase of about 4%[29] Capital Expenditures and Investments - Capital expenditures for the period from February 8, 2025, to March 31, 2025, were $30,457,000, compared to $28,053,000 for the same period in 2024, showing an increase of approximately 8.6%[32] - Bally's committed to a strategic capital investment of AUD $300 million in Star Entertainment Group, potentially owning approximately 38% of Star[11] Strategic Focus and Operations - The company is focusing on optimizing the results of its North America Interactive segment while growing its International Interactive business[6] - The construction of the permanent Chicago casino is ongoing, supported by Gaming and Leisure Properties, Inc.[5] - Bally's legacy properties outpaced market growth in seven of twelve jurisdictions during the first quarter[7] Financial Instruments and Risk Management - The company has entered into currency swaps to convert $500 million of its Term Loan Facility to €461.6 million fixed-rate Euro-denominated instrument due October 2028[32] - The company reported cash payments associated with triple net operating leases of $29,705,000 for the period from February 8, 2025, to March 31, 2025[32] - The company’s interest rate contract arrangements amount to an additional $1.0 billion notional, maturing in 2028, as part of its risk management program[32] Proforma Financial Information - Proforma combined financial information provides a baseline for future comparative results of Bally's and Queen, reflecting their merger as if it occurred on January 1, 2024[26] - Adjusted International Interactive revenue for the three months ended March 31, 2025, was $109,030,000, down from $170,017,000 in the same period in 2024, a decrease of about 35.9%[41]

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]

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].