Bally's Corporation (BALY)

In May 2025, Bally's announced a strategic investment in The Star Entertainment Group and reported positive first-quarter results. In June 2025, Star Entertainment shareholders approved Bally's takeover. In August 2025, Bally's reported a year-over-year increase in revenue, driven by its Casinos & Resorts division and North America Interactive. In September 2025, Bally's unveiled its vision for Bally's Las Vegas and announced an increase to its revolving credit facility commitments. In October 2025, Intralot S.A.'s acquisition of Bally's International Interactive business was finalized, providing Bally's with substantial liquidity and a majority shareholding in Intralot, leading to a stock gain. In November 2025, Bally's reported a revenue increase, analysts raised price targets, and the company received final suitability approvals for its Star Entertainment Group acquisition, but the stock also dropped due to landlord concerns.

Bally's Corporation's casino, hotel, and racing operations are subject to seasonal variations, with unfavorable weather conditions potentially impacting transportation and leading to closures. The company's sports betting business may also experience seasonality influenced by the popularity of specific sports. The company is mindful of broader economic challenges faced by consumers and competitive pressures in various markets.

Bally's Corporation is a global casino-entertainment company with a growing omni-channel presence, operating within the Consumer Discretionary sector and the Hotels/Resorts and Gambling/Entertainment industries. The company owns and manages casinos, a golf course, a horse racetrack, and online sports betting (Bally Bet). Bally's also offers iCasino platforms (Bally Casino) and has interactive gaming operations through Bally's Interactive International. Furthermore, Bally's holds a significant economic stake in Intralot S.A. As of November 2025, Bally's operates approximately 17,700 slot machines, 630 table games, and 3,950 hotel rooms.

Bally's Corporation has a diverse geographic footprint. In the United States, it owns and manages 19 casinos across 11 states, a golf course in New York, and a horse racetrack in Colorado. The company also holds online sports betting (OSB) licenses in 13 jurisdictions in North America. Internationally, Bally's operates Aspers Casino in Newcastle, UK. Through a strategic investment in Star Entertainment Group, Bally's has a presence in Australia, operating two properties across two states. The company's significant economic stake in Intralot S.A. further expands its global reach in the lottery and iGaming technology space.

Bally's Corporation aims to be a leading omni-channel provider of gaming and entertainment experiences. However, the company's reputation has faced challenges, with the Chairman acknowledging a loss of credibility in the context of the Star Entertainment Group acquisition and committing to regain it.

Bally's Corporation is a publicly traded company, but it operates as a controlled company due to a single majority shareholder, Standard General L.P., which holds approximately 74% of the voting power. Other major institutional owners include Vanguard Group Inc, BlackRock, Inc., Whitefort Capital Management, LP, Jpmorgan Chase & Co, Fortress Investment Group LLC, Rathbone Brothers plc, Geode Capital Management, Llc, Qube Research & Technologies Ltd, Bradley Foster & Sargent Inc/ct, and iShares Russell 2000 ETF. Noel Hayden is also noted as a significant individual owner.