Bally's Corp is a U.S.-based gaming and entertainment company built around a portfolio of casinos, resorts, sports betting, and interactive gaming assets. The company owns and manages casinos across 11 U.S. states, operates Bally's Newcastle in the United Kingdom, and has expanded through acquisitions including The Queen Casino & Entertainment in 2025. It also runs Bally Bet Sportsbook & Casino and Bally's International Interactive, giving it exposure to both land-based gaming and online wagering. A significant stake in Intralot adds a lottery-management and services dimension to the business. Bally's strategy is to use its property footprint, proprietary technology stack, and interactive gaming capabilities to grow revenue and diversify away from any single market or channel.
0.80
0.77
| % | |
|---|---|
| Land-based casinos and resorts | 70% Owned and managed casinos, hotel rooms, food and beverage outlets, and entertainment venues across the U.S. and the UK. |
| Interactive gaming and sports betting | 20% Online sportsbook and iCasino products, including Bally Bet and Bally’s International Interactive. |
| Licensing and other gaming revenue | 5% Brand, technology, and other ancillary revenue tied to gaming operations and property assets. |
| Equity method and lottery-related exposure | 5% Economic exposure to Intralot and related lottery management and services activity. |
Bally's serves casino patrons who visit its properties for slot machines, table games, hotel stays, dining, and live...
Guests at Bally's casinos and resorts who buy gaming, hotel, dining, and entertainment experiences because the properties combine wagering with leisure spending.
Digital customers using Bally Bet and international interactive products for mobile wagering and online casino play.
State agencies, host communities, and technology partners that support licenses, VLT contracts, and market access.
Public-sector and commercial partners connected to Intralot and related lottery-management services.
Bally's business is concentrated in the United States, where it owns and manages 19 casinos in 11 states, plus a golf...
Bally's is trying to build a dual-engine model: cash-generating land-based casinos and higher-growth interactive gaming...
Online gaming offers a scalable growth path and can diversify the company beyond physical casinos.
Property upgrades and better amenities support visitation, spend per customer, and local competitiveness.
The business is capital intensive and needs balance-sheet flexibility to fund operations and acquisitions.
Bally's is exposed to gaming regulation because its casinos, sportsbook, iGaming, and VLT arrangements depend on state...
Revenue depends on state, local, and international approvals for casinos, sportsbooks, iGaming, and VLT operations.
Management states a vast majority of revenue is from the UK market and denominated in GBP, creating USD translation and transaction exposure.
The company relies on operating cash flow, debt markets, and revolver availability to fund operations and development.
Recent acquisitions, including Queen, must be integrated without disrupting operations or eroding expected synergies.
Casino brands, trade names, and technology assets depend on projected cash flows and can be written down if performance weakens.
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: 11/08/2026