Bally's (BALY) ZACKS·2024-11-20 15:26Group 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]