Group 1: Merger Announcement - Bally's Corporation has secured shareholder approval for its merger with The Queen Casino & Entertainment Inc., enhancing its Casino & Resorts segment and adding diversity to its portfolio [1] - The merger includes the integration of QC&E's four properties, with significant redevelopment projects expected to drive organic growth [2] Group 2: Financial Backing and Timeline - The transaction is backed by $500 million in committed financing and is anticipated to close in the first half of 2025 [2] Group 3: Price Performance - Shares of Bally's have gained 37.8% in the past six months, outperforming the industry growth of 15.6% [4] - The company benefits from strategic expansions, cost-effective customer acquisition, and a robust online sports betting operation [4] Group 4: Operational Challenges - Bally's faces operational challenges in Rhode Island and Atlantic City, along with slow approval processes for its New York casino proposal [5] - Analysts have widened loss estimates for 2024, indicating concerns about the company's long-term growth potential [5] Group 5: Current Zacks Rank - Bally's currently holds a Zacks Rank 4 (Sell) [6]

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].

Bally's Corporation (BALY) reported $629.97 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 0.4%. EPS of -$1.99 for the same period compares to -$1.15 a year ago.The reported revenue represents a surprise of -3.17% over the Zacks Consensus Estimate of $650.63 million. With the consensus EPS estimate being -$0.25, the EPS surprise was -696.00%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they comp ...

Bally's Corporation (NYSE:BALY) Q3 2024 Earnings Call Transcript November 6, 2024 4:30 PM ET Company Participants Charlie Diao - Senior Vice President of Finance and Corporate Treasurer Robeson Reeves - Chief Executive Officer George Papanier - President Marcus Glover - Chief Financial Officer Operator Good day, everyone, and welcome to the Bally’s Corporation Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Please be advised that today’s conference is b ...

Bally's Corporation (BALY) came out with a quarterly loss of $1.99 per share versus the Zacks Consensus Estimate of a loss of $0.25. This compares to loss of $1.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -696%. A quarter ago, it was expected that this hotel casino operator would post a loss of $1.47 per share when it actually produced a loss of $0.83, delivering a surprise of 43.54%.Over the last four quarters, the com ...

Exhibit 99.1 BALLY'S CORPORATION ANNOUNCES THIRD QUARTER 2024 RESULTS PROVIDENCE, R.I., - November 6, 2024 - Bally's Corporation (NYSE: BALY) ("Bally's" or the "Company") today reported financial results for the third quarter ended September 30, 2024. Third Quarter 2024 and Recent Highlights • Company-wide revenue of $630.0 million, a decrease of 0.4% year-over-year ◦ Casinos & Resorts revenue of $353.4 million, down 1.6% year-over-year ◦ UK online revenues grew 11.8% while overall International Interactive ...

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth po ...

The Consumer Discretionary group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Bally's Corporation (BALY) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Bally's Corporation is a member of the Consumer Discretionary sector. This group includes 279 individual stocks and currently holds a Zacks Sector Rank of #11. The Zacks Sector Rank considers 16 different groups, measuring t ...

For those looking to find strong Consumer Discretionary stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Bally's Corporation (BALY) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Consumer Discretionary peers, we might be able to answer that question.Bally's Corporation is one of 280 individual stocks in the Consumer Discretionary sector. Collectively, these companies sit at #9 in the Zacks Sector R ...

Momentum investing is essentially an exception to the idea of "buying low and selling high." Investors following this style of investing are usually not interested in betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Who doesn't like betting on fast-moving trending stocks? But determining the right entry point isn't easy. Often, these stocks lose momentum once their valuation moves ahead ...