Bally's Corporation (BALY) AI Stock Analysis

• Market Cap: $651.40M
• Dividend Yield: N/A
• Average Volume (3M): 134.34K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.10
• Revenue Growth: 0.36%
• EPS Growth: 47.55%
• Country: US
• Employees: 10,000
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Gambling, Resorts & Casinos
• EPS (TTM): N/A
• Shares Outstanding: 49,162,136
• 10 Day Avg. Volume: 164,492
• 30 Day Avg. Volume: 134,339
• PEG Ratio: >-0.01
• Price to Book (P/B): 28.06
• Price to Sales (P/S): 0.35
• P/FCF Ratio: -10.10
• Enterprise Value/Market Cap: 8.99
• Enterprise Value/Revenue: 2.32
• Enterprise Value/Gross Profit: 4.48
• Enterprise Value/Ebitda: 14.25
• 1Y Price Target: $14.50
• Price Target Upside: 9.43% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 2
• EPS Forecast (FY): -2.14
• Revenue Forecast (FY): $2.84B

• Rating: 43 Neutral
• Price Target: $14.50 ▲(9.43% Upside)
• Action: Reiterated Date: 02/02/26
• Date: Action: Reiterated 02/02/26

The score is primarily held down by weak financial performance—ongoing losses, negative free cash flow, and high leverage. Technicals also lean bearish with price below key moving averages and negative MACD, while valuation is difficult to justify due to negative earnings. Corporate events provide a modest offset via improved financing flexibility, partially tempered by governance risks.

Positive Factors

Diversified revenue streams

Bally’s combines brick-and-mortar casinos, hotels and F&B with an interactive digital gaming/sports betting business. This multi-channel model supports durable revenue diversification, enables cross‑sell of customers and loyalty assets, and reduces reliance on a single demand driver over quarters.

Improving operating margins

Reported TTM gains in EBIT and EBITDA margins indicate management is extracting operating leverage from existing properties and scaling lower‑cost digital channels. Sustained margin improvement enhances cash generation and strengthens the company’s ability to fund investments and service debt over the medium term.

Strengthened liquidity from committed financing

An amended $1.1B financing package with institutional lenders materially bolsters liquidity, enabling repayment of legacy loans and funding license fees and development projects. Enhanced financing reduces near‑term refinancing pressure and supports multi‑quarter strategic initiatives like online growth and resort development.

Negative Factors

High financial leverage

A debt/equity ratio of 3.44 signals substantial leverage and elevated fixed‑charge obligations. High leverage limits strategic flexibility, increases sensitivity to interest-rate moves and economic slowdowns, and raises the likelihood of future refinancing or covenant stress over multiple quarters.

Negative profitability and weak cash flow

Ongoing net losses and negative TTM free cash flow mean Bally’s is not yet self‑funding operations and growth. Persistent negative cash generation forces reliance on external financing, increasing dilution or leverage risk and constraining sustainable reinvestment across properties and digital expansion over the medium term.

Concentrated governance risk

With Standard General controlling majority voting power and the board installing an Executive Chair, Bally’s now qualifies as a controlled company and uses governance exemptions. Concentrated control reduces independent oversight and can skew long‑term strategic decisions away from minority shareholders' interests.

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 licenses in 18 states. The recent acquisition of Aspers Casino in Newcastle, UK, further expands its international footprint and enhances its diverse entertainment offerings. It also owns Bally’s Interactive International, formerly Gamesys Group, a leading, global, interactive gaming operator, Bally Bet, a first-in-class sports betting platform, and Bally Casino, a growing iCasino platform. With 10,600 employees, the Company’s casino operations include approximately 15,300 slot machines, 580 table games, and 3,800 hotel rooms. Bally’s also has rights to developable land in Las Vegas post the closure of the Tropicana. Upon completion of the announced merger with The Queen Casino & Entertainment Inc. (“Queen”), the above portfolio is expected to be supplemented with four additional casinos across three states, one of which will be an additional state that expands Bally’s jurisdiction of operations to include the state of Iowa. Queen will also add over 900 employees, and operations that currently include approximately 2,400 slot machines, 50 table games, and 150 hotel rooms to the Bally’s portfolio. Bally’s will also become the successor of Queen’s significant economic stake in a global lottery management and services business through its investment in Intralot S.A. (ATSE: INLOT).

How the Company Makes Money

Bally's Corporation generates revenue through several key streams. Primarily, the company earns money from its portfolio of casino and resort properties, where it offers gaming activities, hospitality services, food and beverage sales, and entertainment amenities. Additionally, Bally's capitalizes on the growing market of online gaming and sports betting through its interactive platforms, which include digital casino games and online sports wagering. The company's earnings are further enhanced by strategic partnerships and acquisitions that expand its market reach and service offerings. These partnerships often involve collaborations with technology providers, gaming software developers, and media companies to enhance their digital and interactive segments. Together, these revenue streams and partnerships contribute significantly to Bally's financial performance.

Bally's Corporation Financial Statement Overview

Summary

Financial health is pressured by ongoing losses (negative net margin), weak cash flow with negative free cash flow in the TTM, and significant leverage (debt-to-equity 3.44) that elevates balance-sheet risk. Slight TTM revenue growth and improved EBIT/EBITDA margins are positives but not enough to offset profitability and leverage concerns.

Income Statement

Bally's Corporation shows a mixed performance in its income statement. The TTM gross profit margin is relatively low at 12.4%, indicating pressure on profitability. The net profit margin is negative, reflecting ongoing losses. However, there is a slight revenue growth of 1.36% in the TTM, which is a positive sign. The EBIT and EBITDA margins show improvement in the TTM compared to previous years, but the company still faces challenges in achieving profitability.

Balance Sheet

The balance sheet reveals significant financial leverage, with a high debt-to-equity ratio of 3.44 in the TTM, indicating potential risk. The return on equity is negative, reflecting losses and poor returns for shareholders. The equity ratio is low, suggesting limited asset backing by equity. Overall, the balance sheet indicates financial instability and high leverage.

Cash Flow

Cash flow analysis shows challenges with negative free cash flow growth and a low operating cash flow to net income ratio. The free cash flow to net income ratio is slightly positive, indicating some ability to cover net losses with free cash flow. However, the overall cash flow position is weak, with negative free cash flow in the TTM.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	2.52B	2.45B	2.45B	2.26B	1.32B	372.79M
Gross Profit	1.31B	1.33B	1.34B	1.25B	787.36M	234.12M
EBITDA	411.26M	137.39M	448.33M	54.86M	143.64M	25.67M
Net Income	-591.05M	-567.75M	-187.50M	-425.55M	-114.70M	-5.49M
Balance Sheet
Total Assets	7.55B	5.86B	6.86B	6.30B	6.55B	1.93B
Cash, Cash Equivalents and Short-Term Investments	239.91M	171.23M	163.19M	212.51M	206.19M	128.12M
Total Debt	5.63B	4.94B	5.07B	4.52B	3.98B	1.16B
Total Liabilities	7.03B	5.83B	6.23B	5.49B	4.94B	1.60B
Stockholders Equity	521.55M	30.90M	635.43M	805.82M	1.61B	326.60M
Cash Flow
Free Cash Flow	-273.33M	-85.83M	-122.87M	-141.28M	-79.98M	4.22M
Operating Cash Flow	-72.17M	114.00M	188.61M	270.97M	82.75M	19.50M
Investing Cash Flow	35.51M	97.83M	-207.79M	-302.92M	-2.30B	-444.85M
Financing Cash Flow	35.35M	-287.84M	65.75M	43.24M	2.40B	366.40M

Bally's Corporation Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 13.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Positive
• RSI: Neutral
• STOCH: 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 13.25 is below the 20-day moving average (MA) of 14.42, below the 50-day MA of 15.81, and above the 200-day MA of 13.06, indicating a neutral trend. The MACD of -0.61 indicates Positive momentum. The RSI at 38.13 is Neutral, neither overbought nor oversold. The STOCH value of 29.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BALY.

Bally's Corporation Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
INSE	69 Neutral	$216.49M	4.12	―	―	4.03%	―
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
GAMB	60 Neutral	$149.89M	70.69	1.46%	―	24.21%	-92.49%
GDEN	57 Neutral	$763.34M	156.19	1.15%	3.71%	-12.25%	-84.89%
CDRO	56 Neutral	$363.99M	69.11	23.16%	―	1.79%	―
FLL	51 Neutral	$83.80M	-2.02	-121.54%	―	7.45%	5.03%
BALY	43 Neutral	$651.40M	-1.71	-114.88%	―	0.36%	47.55%

Bally's Corporation Corporate Events

Bally’s Names Soohyung Kim Executive Chair Amid Governance Shift

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 salary, bonus and equity opportunities equal to his base pay, and eligibility for standard benefits and severance subject to restrictive covenants. The company also confirmed that, with Standard General L.P. and its affiliates owning more than 50% of voting power, Bally’s qualifies as a “controlled company” under NYSE rules and has elected certain governance exemptions, including no longer maintaining a Nominating and Governance Committee comprised entirely of independent directors after Kim’s shift from independent to non-independent status, a change that further consolidates control with its largest shareholder and may affect governance oversight for minority investors.

The most recent analyst rating on (BALY) stock is a Hold with a $16.50 price target. To see the full list of analyst forecasts on Bally’s Corporation stock, see the BALY Stock Forecast page.

Bally’s Corporation Secures $1.1 Billion Financing Commitment

On December 8, 2025, Bally’s Corporation announced an amended and restated commitment letter to increase its financing commitments to $1.1 billion, comprising a $600 million initial term loan and a $500 million delayed draw term loan. This financial maneuver is supported by Ares Management Credit funds, King Street Capital Management, and TPG Credit, with the completion expected in the first quarter of 2026. The proceeds will support general corporate purposes, including the repayment of existing loans and payment of New York State casino license fees. This move is anticipated to strengthen Bally’s liquidity and support its strategic growth in online gaming, casino portfolio, and resort developments.

The most recent analyst rating on (BALY) stock is a Hold with a $17.50 price target. To see the full list of analyst forecasts on Bally’s Corporation stock, see the BALY Stock Forecast page.