Atlantic City, NJ, April 17, 2024 (GLOBE NEWSWIRE) -- Bally's Atlantic City is thrilled to commemorate its 45th Anniversary by introducing a range of new amenities and special offerings designed to enhance the guest experience. Building upon the successful completion of over $100 million in renovations in the summer of 2022, Bally's is excited to announce additional improvements that will take the customer experience to new heights. These enhancements are aimed at providing guests with even more exciting an ...

In this articleBALYAn exterior view shows the Tropicana Las Vegas at dusk on March 29, 2024 in Las Vegas, Nevada. David Becker | Getty ImagesAs the famous Tropicana in Las Vegas closes its doors Tuesday, its operator Bally's Corporation is facing its own existential battle. At stake: ownership, its status as a publicly traded company and its highest-profile projects.Bally's Chairman Soo Kim and Standard General, the private equity fund he founded, last month made a bid to take the company private at $15 per ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-38850 | --- | --- | --- | --- | --- | |-----------------------------|-------|-------|-------------------------------|-------| | | | | | | | Exchange Act. | | | | | | ...

PROVIDENCE, R.I.--(BUSINESS WIRE)--The Board of Directors of Bally’s Corporation (NYSE: BALY) today announced that it has formed a special committee of independent and disinterested directors that is authorized, among other things, to evaluate the preliminary, non-binding proposal, dated March 11, 2024, by Standard General to acquire all of the outstanding shares of Bally’s that it does not already own for $15.00 in cash per share, as well as any potential strategic alternatives to the proposal. A copy of ...

Key TakeawaysBally's Corp. shares took off Monday, soaring almost 30%, after hedge fund Standard General made a new bid to take over the casino operator.Standard General offered $15 per share for Bally's, a 41% premium from Friday's closing price and above Monday's $13.64 close.The hedge fund had made a $38-a-share bid for the company in January 2022, which was rejected. Bally’s Corp. (BALY) shares skyrocketed almost 30% after hedge fund Standard General offered to buy the rest of the shares of the casino o ...

Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the securities laws. Forward-looking statements are statements as to matters that are not historical facts and include statements about Bally’s Corporation’s (“Bally’s”) plans, objectives, expectations and intentions. Forward-looking statements are not guarantees and are subject to risks and uncertainties. Forward-looking statements are based on Bally’s current expectations and assumptions. Although Bally’ ...

Financial Data and Key Metrics Changes - Bally's Corporation reported a 6% year-over-year revenue growth in Q4 2023, reaching $612 million, with a full-year revenue increase of 9% [5][21] - Adjusted EBITDA for the full year 2023 grew by 9%, with Q4 adjusted EBITDA reflecting strong performance across all segments [5][21] - The Casino & Resorts segment reported a 7% revenue increase in Q4 and an 11% increase for the full year, with adjusted EBITDA up 8% [14][21] Business Line Data and Key Metrics Changes - The Casinos & Resorts segment achieved revenues of $342.3 million in Q4, a 7% increase year-over-year, and $94.7 million in adjusted EBITDA [20] - International Interactive revenues increased by 2.1% year-over-year to $236 million in Q4, with record adjusted EBITDA of $93.2 million, a 4.3% increase [21] - North America Interactive generated $33.4 million in revenue, a 27% year-over-year increase, but reported an adjusted EBITDA loss of $9.8 million [22] Market Data and Key Metrics Changes - The UK operations within International Interactive saw a 10% revenue increase year-over-year, while Asia stabilized with expectations for consistent performance in 2024 [21][37] - The North American Interactive segment is expected to see significant adjusted EBITDA losses in 2024, estimated at $30 million, as the company continues to invest in market expansion [22][24] Company Strategy and Development Direction - Bally's Corporation is focused on a diverse operating model across Casinos & Resorts, International Interactive, and North America Interactive, viewing this diversity as a strength [6][10] - The company has a well-structured development pipeline, including the Chicago permanent casino project expected to begin construction in late 2024 and complete by late 2026 [8][10] - Bally's aims to enhance its market presence through strategic partnerships and technology improvements, particularly in the North American Interactive segment [12][45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate macroeconomic challenges and highlighted a strong operational performance in 2023 [6][10] - The company anticipates continued growth in 2024, driven by the ramp-up of the Chicago temporary facility and the launch of iGaming in Rhode Island [24][25] - Management acknowledged the impact of severe weather on operations in January but noted a return to normal trends in February [32][19] Other Important Information - Bally's expects 2024 revenue in the range of $2.5 to $2.7 billion and adjusted EBITDA between $655 million and $695 million [24] - The company ended Q4 with $163.2 million in cash and $3.56 billion in net debt, reflecting ongoing investments and share repurchases [23] Q&A Session Summary Question: Insights on Chicago's player demographics and database transfer to the permanent facility - Management reported a growing database of 65,000 players, primarily younger demographics, with plans to transfer this database to the permanent facility [28] Question: Updates on Tropicana and ACE Stadium plans - Management confirmed the closure of Tropicana on April 2nd to prepare the site for ACE Stadium construction, with ongoing evaluations for development options [30] Question: Weather impact on guidance for Casinos & Resorts - Management estimated a 20% impact from weather in January but noted a bounce back in February, expecting to return to normal growth levels [32] Question: U.K. regulatory changes and their impact - Management expressed confidence in adapting to regulatory changes in the U.K., viewing them as opportunities to capture market share from smaller operators [35] Question: Chicago Temporary Facility EBITDA target - Management confirmed the target of $50 million EBITDA for the Chicago Temporary Facility remains intact [38] Question: Capital allocation and leverage strategy - Management emphasized a balanced approach to capital allocation, with ongoing investments in development while maintaining flexibility for share repurchases [70][72]

Bally's Corporation (BALY) reported $611.67 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 6.1%. EPS of -$0.86 for the same period compares to -$0.43 a year ago.The reported revenue represents a surprise of -2.39% over the Zacks Consensus Estimate of $626.62 million. With the consensus EPS estimate being -$0.55, the EPS surprise was -56.36%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectati ...

分组1 - Bally's Corporation reported a quarterly loss of $0.86 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.55, and compared to a loss of $0.43 per share a year ago [1] - The company's revenues for the quarter ended December 2023 were $611.67 million, missing the Zacks Consensus Estimate by 2.39%, and up from $576.69 million year-over-year [1] - Bally's has not surpassed consensus EPS estimates over the last four quarters and has only topped consensus revenue estimates once in the same period [1] 分组2 - Bally's shares have declined approximately 24.3% since the beginning of the year, contrasting with the S&P 500's gain of 4.3% [2] - The company's earnings outlook, including current consensus earnings expectations for upcoming quarters, will be crucial for investors [2] - The current consensus EPS estimate for the next quarter is -$0.24 on revenues of $651.73 million, and for the current fiscal year, it is -$0.50 on revenues of $2.66 billion [4] 分组3 - The Zacks Industry Rank places Hotels and Motels in the top 25% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [4] - Civeo, another company in the same industry, is expected to report quarterly earnings of $0.07 per share, reflecting a year-over-year increase of 107.1% [5] - Civeo's anticipated revenues are $151.12 million, which represents a 6.8% decline from the year-ago quarter [5]

Exhibit 99.1 (1) Bally's Corporation Announces Fourth Quarter and Full Year 2023 Results PROVIDENCE, R.I., - February 21, 2024 - Bally's Corporation (NYSE: BALY) today reported financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter 2023 Results and Operating Highlights • Consolidated revenues of $611.7 million, up 6.1% year-over-year and up 8.6% for the full year • Casinos & Resorts revenues of $342.3 million, up 7.2% year-over-year • International Interactive revenue ...