Bally's Corporation's Diverse Operations and Strong Financials

Bally's Corporation has recently released its 10-Q report, providing a detailed look into the company's financial performance and operations. Bally's Corporation operates as a casino-entertainment company, managing casinos across 10 states, a golf course in New York, and a horse racetrack in Colorado. The company also has access to OSB licenses in 18 states and owns Bally's Interactive International, Bally Bet, and Bally Casino, which are online gaming platforms. Bally's Corporation was formerly known as Twin River Worldwide Holdings, Inc. and changed its name to Bally's Corporation in November 2020. The company was incorporated in 2004 and is headquartered in Providence, Rhode Island.

In its 10-Q report, Bally's Corporation's management's discussion and analysis of financial condition and results of operations highlighted the company's forward-looking statements and the risks and uncertainties it faces. The report emphasized the company's focus on growing its business by actively pursuing the acquisition and development of new gaming opportunities and reinvesting in its existing operations. Bally's Corporation believes that interactive gaming represents a significant strategic opportunity for its future growth and is actively focusing resources in markets that it believes will regulate iGaming.

Bally's Corporation's business is organized into three reportable segments: Casinos & Resorts, International Interactive, and North America Interactive. The company owns and manages 16 land-based casinos in 10 states across the United States, one golf course in New York, and one horse racetrack in Colorado operating under the Bally's brand. Its land-based casino operations include approximately 15,300 slot machines, 600 table games, and 5,300 hotel rooms, along with various restaurants, entertainment venues, and other amenities.

The report also discussed the macroeconomic and other factors that impact Bally's Corporation's business, including global economic challenges, public health crises such as the COVID-19 pandemic, rising inflation, rising interest rates, and supply-chain disruptions. These challenges can negatively impact discretionary consumer spending and could result in a reduction in visitors to the company's properties.

Bally's Corporation uses consolidated Adjusted EBITDA and segment Adjusted EBITDAR as key performance indicators to analyze the performance of its business. These non-GAAP measures are used to evaluate operating performance and are considered by many to be key indicators of the company's operating results. Additionally, Consolidated Adjusted EBITDAR is used as a valuation metric by analysts in valuing gaming companies subject to triple net leases, as it eliminates the effects of variability in leasing methods and capital structures.

Following these announcements, the company's shares moved 1.9%, and are now trading at a price of $13.25. If you want to know more, read the company's complete 10-Q report here.

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