Bally's Corporation (BALY)
NYSE:BALY
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Bally's Corporation
(NYSE:BALY)
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Rating:47Neutral
Price Target:
$10.50
▼(-2.78% Downside)
Action:ReiteratedDate:03/23/26
The score is held down primarily by weak financial quality (history of net losses, negative free cash flow, and leverage risk despite recent improvement) and bearish technicals. These are partially offset by very low P/E valuation and mixed but liquidity-supportive corporate financing actions.
Positive Factors
Diversified revenue streams
Bally’s runs both brick-and-mortar casinos and an interactive digital wagering business, plus management/licensing income. This multi-channel model supports revenue resilience and cross‑sell opportunities, reducing reliance on any single market or venue over the next 2–6 months.
Negative Factors
Elevated historical leverage
A history of debt vastly exceeding equity leaves limited capital cushions and elevates refinancing and interest‑rate risk. Although 2025 shows improvement, the legacy leverage profile means operational setbacks could quickly strain liquidity and restrict strategic optionality over months.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified revenue streams
Bally’s runs both brick-and-mortar casinos and an interactive digital wagering business, plus management/licensing income. This multi-channel model supports revenue resilience and cross‑sell opportunities, reducing reliance on any single market or venue over the next 2–6 months.
Read all positive factors
Bally's Corporation (BALY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$524.18M
Dividend YieldN/A
Average Volume (3M)134.34K
Price to Earnings (P/E)―
Beta (1Y)1.20
Revenue Growth0.36%
EPS Growth47.55%
CountryUS
Employees10,000
SectorConsumer Cyclical
Sector Strength84
IndustryGambling, Resorts & Casinos
Share Statistics
EPS (TTM)-6.45
Shares Outstanding48,535,458
10 Day Avg. Volume164,492
30 Day Avg. Volume134,339
Financial Highlights & Ratios
PEG Ratio-0.06
Price to Book (P/B)1.01
Price to Sales (P/S)0.38
P/FCF Ratio-3.64
Enterprise Value/Market Cap11.60
Enterprise Value/Revenue2.29
Enterprise Value/Gross Profit5.33
Enterprise Value/Ebitda17.67
Forecast
1Y Price Target
$11.33Price Target Upside4.91% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering3
EPS Forecast (FY)-3.79
Revenue Forecast (FY)$3.04B
Bally's Corporation Business Overview & Revenue Model
Company Description
Bally’s Corporation is a global casino-entertainment company with a growing omni-channel presence, currently owning and managing 15 casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and having access to OSB licens...
How the Company Makes Money
Bally’s primarily makes money by operating regulated gambling and entertainment properties and, where permitted, offering digital wagering products. Key revenue streams include: (1) Casino gaming revenue at its brick-and-mortar properties, generat...
Bally's Corporation Earnings Call Summary
Earnings Call Date:Nov 06, 2024
(Q3-2024)
| Next Earnings Date:May 12, 2026
Earnings Call Sentiment Neutral
The earnings call presented a mixed performance for Bally's Corporation. While there were significant achievements such as strong growth in the North America Interactive segment and successful operations in the UK, there were notable challenges, including revenue declines in certain segments and specific regional difficulties in Rhode Island and Atlantic City. The company is focused on strategic developments and operational improvements to enhance future growth.Positive Updates
North America Interactive Revenue Growth
The North America Interactive segment experienced a 55% increase in revenue, reaching $46 million. This growth was driven by strong performance in iGaming operations, particularly in Rhode Island, contributing $9.7 million in gross gaming revenue.
Negative Updates
Revenue Decline in International Interactive Segment
The International Interactive segment experienced a 5% decline in revenue, primarily due to underperformance outside the UK.
Read all updates
Q3-2024 Updates
Positive
Negative
North America Interactive Revenue Growth
The North America Interactive segment experienced a 55% increase in revenue, reaching $46 million. This growth was driven by strong performance in iGaming operations, particularly in Rhode Island, contributing $9.7 million in gross gaming revenue.
Read all positive updates
Company Guidance
During Bally’s Corporation's third-quarter 2024 earnings call, the company provided guidance on several key metrics and strategic developments. Overall, third-quarter revenue slightly decreased by less than 1% year-over-year to $630 million, with notable performance variations across segments. The North America Interactive segment experienced significant growth, with a 55% increase in revenue, while the Casinos & Resorts segment saw a 2% decline, primarily due to challenges in Rhode Island and Atlantic City. The International Interactive segment faced a 5% revenue decline, although the UK operations alone reported a 12% increase. Adjusted EBITDA margins improved by approximately 400 basis points for the International Interactive segment, reflecting operational efficiency. The company plans to continue expanding its North America Interactive business, aiming for positive EBITDA. Bally’s also shared updates on its development projects, including the flagship casino in Chicago, expected to open in September 2026, and its strategic efforts in Las Vegas and New York. The acquisition of Aspers Casino Newcastle aims to enhance Bally's UK presence, leveraging its online player database for increased engagement. Additionally, the company is restructuring its operations in Asia and other markets to focus on high-margin licensing revenue. The call emphasized Bally's commitment to improving efficiency and profitability while navigating market-specific challenges.Bally's Corporation Financial Statement Overview
Summary
Income Statement
44
Neutral
Balance Sheet
28
Negative
Cash Flow
37
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.66B | 2.45B | 2.45B | 2.26B | 1.32B |
| Gross Profit | 1.14B | 1.33B | 1.34B | 1.25B | 787.36M |
| EBITDA | 344.23M | 137.39M | 448.33M | 54.86M | 143.64M |
| Net Income | -701.10M | -567.75M | -187.50M | -425.55M | -114.70M |
Balance Sheet | |||||
| Total Assets | 11.23B | 5.86B | 6.86B | 6.30B | 6.55B |
| Cash, Cash Equivalents and Short-Term Investments | 798.42M | 171.23M | 163.19M | 212.51M | 206.19M |
| Total Debt | 6.43B | 4.94B | 5.07B | 4.52B | 3.98B |
| Total Liabilities | 8.69B | 5.83B | 6.23B | 5.49B | 4.94B |
| Stockholders Equity | 994.66M | 30.90M | 635.43M | 805.82M | 1.61B |
Cash Flow | |||||
| Free Cash Flow | -275.49M | -85.83M | -122.87M | -141.28M | -79.98M |
| Operating Cash Flow | -91.20M | 114.00M | 188.61M | 270.97M | 82.75M |
| Investing Cash Flow | 1.82B | 97.83M | -207.79M | -302.92M | -2.30B |
| Financing Cash Flow | -1.04B | -287.84M | 65.75M | 43.24M | 2.40B |
Bally's Corporation Technical Analysis
Negative
10.80
Price Trends
13.04
Negative
14.89
Negative
13.36
Negative
Market Momentum
-0.82
Negative
43.82
Neutral
66.41
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BALY, the sentiment is Negative. The current price of 10.8 is below the 20-day moving average (MA) of 11.35, below the 50-day MA of 13.04, and below the 200-day MA of 13.36, indicating a bearish trend. The MACD of -0.82 indicates Negative momentum. The RSI at 43.82 is Neutral, neither overbought nor oversold. The STOCH value of 66.41 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BALY.
Bally's Corporation Risk Analysis
Bally's Corporation disclosed 58 risk factors in its most recent earnings report. Bally's Corporation reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Bally's Corporation Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | $97.69M | ― | -233.17% | ― | 7.45% | 5.03% | |
56 Neutral | $185.09M | -16.00 | 184.28% | ― | 4.03% | ― | |
56 Neutral | $390.18M | ― | 16.40% | ― | 1.79% | ― | |
52 Neutral | $126.70M | -5.88 | -24.91% | ― | 24.21% | -92.49% | |
49 Neutral | $737.85M | ― | -1.37% | 3.71% | -12.25% | -84.89% | |
47 Neutral | $524.18M | -1.43 | -116.69% | ― | 0.36% | 47.55% |
* Consumer Cyclical Sector Average
BALY
Bally's Corporation
10.80
-4.66
-30.14%
FLL
Full House Resorts
2.48
-0.62
-20.00%
GDEN
Golden Entertainment
27.95
3.75
15.49%
INSE
Inspired Entertainment
6.42
-0.86
-11.81%
CDRO
Codere Online
8.57
1.68
24.49%
GAMB
Gambling.com
3.61
-8.22
-69.48%
Bally's Corporation Corporate Events
Business Operations and StrategyPrivate Placements and Financing
Bally’s Enters New $1.1 Billion Secured Term Loan
Neutral
Feb 17, 2026
On February 11, 2026, Bally’s Corporation and certain subsidiaries entered into a new $1.1 billion senior secured term loan credit agreement with a group of lenders, split between a $600 million closing date loan and a $500 million delayed d...
Business Operations and StrategyPrivate Placements and Financing
Bally’s Secures New Term Loan and Sale-Leaseback Financing
Positive
Feb 12, 2026
On February 11, 2026, Bally’s Corporation entered into a new term loan credit facility due 2031, securing $1.1 billion in funded term loans from funds managed by Ares Management, King Street Capital Management, and TPG Credit. On the same da...
Business Operations and StrategyExecutive/Board ChangesRegulatory Filings and Compliance
Bally’s Names Soohyung Kim Executive Chair Amid Governance Shift
Negative
Feb 2, 2026
On January 27, 2026, Bally’s Corporation’s board appointed longtime director and current non-executive chair Soohyung Kim as Executive Chair, formalizing his leadership role through an employment agreement that provides a $400,000 base...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.