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Bally's Corporation Announces First Quarter 2021 Results


Bally s Corporation Announces First Quarter 2021 Results
Achieves Record Quarterly EBITDA
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PROVIDENCE, R.I., May 10, 2021 /PRNewswire/  Bally s Corporation (NYSE: BALY) (the Company or Bally s ), today reported financial results for the first quarter ended March 31, 2021.
First Quarter 2021 and Recent Highlights
Income from operations of $29.5 million represents strongest quarter since second quarter 2019
Adjusted EBITDA of $52.5 million is up $30.4 million, or 137.9%, from the same period in 2020
Adjusted EBITDA margins of 27.29% represent an increase of 708 bps year-over-year
Announced transformational agreement to acquire Gamesys Group plc to further omni-channel strategy
Strengthened consumer confidence, limited entertainment options and disciplined operating strategy contributed to record results at many properties ....

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Surprise Bid by Bally's May Halt WPT Sale to Element Partners


A new bidder has made a last-minute move to buy the World Poker Tour (WPT) and its parent company Allied Entertainment for $100 million.
Bally’s Corporation, owner of Dover Downs, has made a surprise $100 million bid for the WPT. (Image: Pinterest/CasinoGuidesUSA)
However, following an unexpected bid from Bally’s Corporation, that deal may be off the table.
Allied Entertainment Confirms Bally’s $100 Million Bid
News of the latest bid broke on March 5. Insider talk had suggested a new player had entered the game.
Allied Entertainment subsequently put out a press release confirming that it had received an unsolicited takeover bid. ....

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