Bally's Corporation (BALY) 10-Year Financial Performance & Capital Metrics

BALY • • Industrial / General

Consumer CyclicalCasinos & GamingRegional & Local CasinosUS Regional Casino Chains

AboutBally’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).Show more

Revenue $2.45B
EBITDA $121M -73.3%
Net Income -$568M -202.8%
EPS (Diluted) -11.71 -233.6%
Gross Margin 54.17% -1.3%
EBITDA Margin 4.95% -73.3%
Operating Margin -10.54% -348.2%
Net Margin -23.17% -202.6%
ROE -170.3% -554.9%
ROIC -3.75% -356.0%
Debt/Equity 159.83 +1906.1%
Interest Coverage -0.83 -322.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 80 (top 20%)
✓Strong 5Y sales CAGR of 36.2%
✓Share count reduced 9.2% through buybacks

✗Weaknesses

✗High debt to equity ratio of 159.8x
✗Negative free cash flow
✗Expensive at 26.1x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y36.16%

3Y22.83%

TTM1.54%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM22.27%

EPS CAGR

10Y-

5Y-

3Y-

TTM83.33%

ROCE

10Y Avg7.35%

5Y Avg-1.37%

3Y Avg-2.64%

Latest-4.63%

Peer Comparison

US Regional Casino Chains

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CHDNChurchill Downs Incorporated	7.35B	105.48	18.57	11.07%	13.98%	37.36%	3.07%	4.46
BYDBoyd Gaming Corporation	6.88B	88.03	14.22	5.13%	13.99%	40.37%	8.09%	2.49
BALYBally's Corporation	818.06M	16.64	-1.42	0.06%	-23.45%	-113.25%		159.83
PENNPENN Entertainment, Inc.	1.84B	13.84	-6.75	3.38%	-13.24%	-46.27%		3.94

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	414.82M	421.05M	437.54M	523.58M	372.79M	1.32B	2.26B	2.45B	2.45B
Revenue Growth %	-	0.02%	0.04%	0.2%	-0.29%	2.55%	0.71%	0.09%	0%
Cost of Goods Sold+	123.54M	125.41M	129.34M	185.17M	138.67M	535.08M	1.01B	1.11B	1.12B
COGS % of Revenue	0.3%	0.3%	0.3%	0.35%	0.37%	0.4%	0.45%	0.45%	0.46%
Gross Profit+	291.27M	295.64M	308.2M	338.4M	234.12M	787.36M	1.25B	1.34B	1.33B
Gross Margin %	0.7%	0.7%	0.7%	0.65%	0.63%	0.6%	0.55%	0.55%	0.54%
Gross Profit Growth %	-	0.01%	0.04%	0.1%	-0.31%	2.36%	0.58%	0.08%	-0.01%
Operating Expenses+	178.82M	171.92M	181.03M	223.78M	252.51M	693.98M	1.54B	1.24B	1.59B
OpEx % of Revenue	0.43%	0.41%	0.41%	0.43%	0.68%	0.52%	0.68%	0.51%	0.65%
Selling, General & Admin	153.13M	155.49M	145.96M	180.4M	192.75M	496.66M	776.23M	888.79M	957.12M
SG&A % of Revenue	0.37%	0.37%	0.33%	0.34%	0.52%	0.38%	0.34%	0.36%	0.39%
Research & Development	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-2.66M	16.43M	22.33M	43.38M	59.76M	197.32M	763.25M	351.1M	628.54M
Operating Income+	112.46M	123.72M	120.65M	114.63M	-18.39M	93.38M	-293.01M	104.01M	-258.33M
Operating Margin %	0.27%	0.29%	0.28%	0.22%	-0.05%	0.07%	-0.13%	0.04%	-0.11%
Operating Income Growth %	-	0.1%	-0.02%	-0.05%	-1.16%	6.08%	-4.14%	1.35%	-3.48%
EBITDA+	137.53M	145.93M	142.98M	147.02M	19.46M	238.17M	7.55M	454.42M	121.22M
EBITDA Margin %	0.33%	0.35%	0.33%	0.28%	0.05%	0.18%	0%	0.19%	0.05%
EBITDA Growth %	-	0.06%	-0.02%	0.03%	-0.87%	11.24%	-0.97%	59.18%	-0.73%
D&A (Non-Cash Add-back)	25.07M	22.2M	22.33M	32.39M	37.84M	144.79M	300.56M	350.41M	379.54M
EBIT	109.97M	123.92M	120.82M	115.01M	-12.18M	-1.15M	-245.7M	97.92M	-242.16M
Net Interest Income+	-26.4M	-22.61M	-22.85M	-37.93M	-62.64M	-115.67M	-208.15M	-277.56M	-289.63M
Interest Income	180K	194K	173K	1.9M	612K	2.25M	616K	0	20.72M
Interest Expense	26.58M	22.81M	23.02M	39.83M	63.25M	117.92M	208.77M	277.56M	310.35M
Other Income/Expense	-29.06M	-22.61M	-22.85M	-39.45M	-56.42M	-212.46M	-161.46M	-289.75M	-294.17M
Pretax Income+	83.39M	101.11M	97.8M	75.18M	-74.81M	-119.07M	-454.47M	-185.74M	-552.5M
Pretax Margin %	0.2%	0.24%	0.22%	0.14%	-0.2%	-0.09%	-0.2%	-0.08%	-0.23%
Income Tax+	38.55M	38.86M	26.36M	20.05M	-69.32M	-4.38M	-28.92M	1.76M	15.25M
Effective Tax Rate %	0.54%	0.62%	0.73%	0.73%	0.07%	0.96%	0.94%	1.01%	1.03%
Net Income+	44.84M	62.25M	71.44M	55.13M	-5.49M	-114.7M	-425.55M	-187.5M	-567.75M
Net Margin %	0.11%	0.15%	0.16%	0.11%	-0.01%	-0.09%	-0.19%	-0.08%	-0.23%
Net Income Growth %	-	0.39%	0.15%	-0.23%	-1.1%	-19.9%	-2.71%	0.56%	-2.03%
Net Income (Continuing)	44.84M	62.25M	71.44M	55.13M	-5.49M	-114.7M	-425.55M	-187.5M	-567.75M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	3.76M	428K	428K	0
EPS (Diluted)+	1.12	1.56	1.85	1.46	-0.18	-1.45	-7.32	-3.51	-11.71
EPS Growth %	-	0.39%	0.19%	-0.21%	-1.12%	-7.06%	-4.05%	0.52%	-2.34%
EPS (Basic)	1.17	1.64	1.93	1.46	-0.18	-1.45	-7.32	-3.51	-11.71
Diluted Shares Outstanding	39.25M	38.44M	38.55M	37.82M	31.32M	49.64M	58.11M	53.35M	48.47M
Basic Shares Outstanding	37.42M	36.48M	36.94M	37.71M	31.32M	49.64M	58.11M	53.35M	48.47M
Dividend Payout Ratio	-	-	0.01%	0.14%	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	105.49M	134.05M	122.46M	245.03M	288.95M	567.19M	522.71M	572.35M	447.87M
Cash & Short-Term Investments	55.36M	85.81M	77.58M	182.58M	128.12M	206.19M	212.51M	163.19M	171.23M
Cash Only	55.36M	85.81M	77.58M	182.58M	123.44M	206.19M	212.51M	163.19M	171.23M
Short-Term Investments	0	0	0	0	4.67M	0	0	0	0
Accounts Receivable	17.47M	23.71M	22.97M	23.19M	8.71M	210.69M	166.61M	165.18M	118.16M
Days Sales Outstanding	15.37	20.55	19.16	16.17	8.52	58.15	26.96	24.62	17.6
Inventory	6.8M	7.26M	6.42M	7.9M	9.3M	11.49M	14.19M	14.63M	19.32M
Days Inventory Outstanding	20.09	21.13	18.11	15.57	24.47	7.84	5.13	4.83	6.28
Other Current Assets	25.86M	7.4M	3.85M	2.92M	130.71M	119.11M	114.98M	212.29M	123.87M
Total Non-Current Assets+	535.4M	584.08M	659.89M	776.86M	1.64B	5.99B	5.78B	6.29B	5.41B
Property, Plant & Equipment	280.84M	335.55M	416.15M	527.66M	785.14M	1.35B	2.01B	2.34B	2.18B
Fixed Asset Turnover	1.48x	1.25x	1.05x	0.99x	0.47x	0.98x	1.12x	1.05x	1.13x
Goodwill	132.03M	132.03M	132.03M	133.08M	186.98M	2.12B	1.75B	1.94B	1.8B
Intangible Assets	120.95M	115.37M	110.1M	110.37M	663.39M	2.48B	1.96B	1.87B	1.31B
Long-Term Investments	0	-15.47M	-9.83M	0	0	0	0	0	65.75M
Other Non-Current Assets	1.58M	1.13M	1.6M	5.74M	5.38M	27.01M	32.69M	110.32M	61.28M
Total Assets+	640.89M	718.13M	782.35M	1.02B	1.93B	6.55B	6.3B	6.86B	5.86B
Asset Turnover	0.65x	0.59x	0.56x	0.51x	0.19x	0.20x	0.36x	0.36x	0.42x
Asset Growth %	-	0.12%	0.09%	0.31%	0.89%	2.4%	-0.04%	0.09%	-0.15%
Total Current Liabilities+	65.33M	116.24M	75.59M	89.78M	143.19M	570.13M	755.8M	874.78M	677.81M
Accounts Payable	0	25.06M	14.21M	14.92M	15.87M	87.54M	70.07M	69.16M	85.77M
Days Payables Outstanding	-	72.94	40.11	29.41	41.77	59.71	25.34	22.84	27.87
Short-Term Debt	10.68M	33.33M	3.6M	3M	5.75M	19.45M	19.45M	19.45M	19.45M
Deferred Revenue (Current)	0	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	40.1M	42.94M	38.57M	33.03M	11.63M	184.63M	172.78M	216.26M	143.01M
Current Ratio	1.61x	1.15x	1.62x	2.73x	2.02x	0.99x	0.69x	0.65x	0.66x
Quick Ratio	1.51x	1.09x	1.54x	2.64x	1.95x	0.97x	0.67x	0.64x	0.63x
Cash Conversion Cycle	-	-31.26	-2.84	2.33	-8.78	6.27	6.75	6.61	-4
Total Non-Current Liabilities+	460M	425.1M	408.1M	720.69M	1.46B	4.37B	4.74B	5.35B	5.15B
Long-Term Debt	404.31M	357.88M	390.58M	680.6M	1.09B	3.43B	3.47B	3.64B	3.3B
Capital Lease Obligations	0	0	0	16.21M	62.02M	506.48M	1B	1.35B	1.55B
Deferred Tax Liabilities	0	11.65M	17.53M	13.79M	0	214.47M	138.02M	125.59M	118.21M
Other Non-Current Liabilities	55.69M	67.22M	0	10.09M	303.93M	219.56M	127.73M	233.29M	179.41M
Total Liabilities	525.32M	541.33M	483.69M	810.48M	1.6B	4.94B	5.49B	6.23B	5.83B
Total Debt+	414.99M	391.2M	394.17M	700.83M	1.16B	3.98B	4.52B	5.07B	4.94B
Net Debt	359.63M	305.39M	316.59M	518.25M	1.04B	3.77B	4.31B	4.9B	4.77B
Debt / Equity	3.59x	2.21x	1.32x	3.32x	3.56x	2.46x	5.61x	7.97x	159.83x
Debt / EBITDA	3.02x	2.68x	2.76x	4.77x	59.80x	16.70x	599.22x	11.15x	40.75x
Net Debt / EBITDA	2.62x	2.09x	2.21x	3.53x	53.45x	15.83x	571.07x	10.79x	39.33x
Interest Coverage	4.23x	5.42x	5.24x	2.88x	-0.29x	0.79x	-1.40x	0.37x	-0.83x
Total Equity+	115.57M	176.8M	298.66M	211.41M	326.6M	1.62B	806.25M	635.85M	30.9M
Equity Growth %	-	0.53%	0.69%	-0.29%	0.54%	3.95%	-0.5%	-0.21%	-0.95%
Book Value per Share	2.94	4.60	7.75	5.59	10.43	32.55	13.87	11.92	0.64
Total Shareholders' Equity	115.57M	176.8M	298.66M	211.41M	326.6M	1.61B	805.82M	635.43M	30.9M
Common Stock	90K	362K	380K	412K	307K	530K	466K	400K	408K
Retained Earnings	70.9M	130.81M	202.88M	250.42M	34.79M	-181.58M	-535.37M	-555.89M	-1.12B
Treasury Stock	0	-22.27M	-30.23M	-223.07M	0	-29.17M	0	0	0
Accumulated OCI	0	0	0	-1.89M	-3.14M	-26.81M	-295.64M	-209.56M	-260.27M
Minority Interest	0	0	0	0	0	3.76M	428K	428K	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	70.69M	107.83M	109.24M	94.1M	19.5M	82.75M	270.97M	188.61M	114M
Operating CF Margin %	0.17%	0.26%	0.25%	0.18%	0.05%	0.06%	0.12%	0.08%	0.05%
Operating CF Growth %	-	0.53%	0.01%	-0.14%	-0.79%	3.24%	2.27%	-0.3%	-0.4%
Net Income	44.84M	62.25M	71.44M	55.13M	-5.49M	-71.8M	-425.55M	-187.5M	-567.75M
Depreciation & Amortization	25.07M	22.2M	22.33M	32.39M	37.84M	144.79M	300.56M	350.41M	379.54M
Stock-Based Compensation	6.33M	17.79M	-1.47M	3.83M	17.71M	20.14M	0	0	14.75M
Deferred Taxes	4.36M	-5.13M	5.88M	8.99M	1.19M	-5.22M	-88.13M	-23.92M	23.95M
Other Non-Cash Items	6.87M	3.34M	9.99M	5.9M	23.28M	56.42M	446.97M	36.52M	283.11M
Working Capital Changes	-16.77M	7.38M	1.07M	-12.14M	-55.03M	-61.58M	37.11M	13.11M	-19.6M
Change in Receivables	-4.02M	-870K	-4.86M	5.21M	11.62M	0	0	0	0
Change in Inventory	-621K	-461K	842K	-89K	125K	0	0	0	0
Change in Payables	3.29M	1.16M	-4.08M	-3.86M	-4.98M	0	0	0	0
Cash from Investing+	-12.18M	-47.48M	-117.6M	-38.92M	-444.85M	-2.3B	-302.92M	-207.79M	97.83M
Capital Expenditures	-10.02M	-47.85M	-128.89M	-28.24M	-15.28M	-162.73M	-505.16M	-502.17M	-199.83M
CapEx % of Revenue	0.02%	0.11%	0.29%	0.05%	0.04%	0.12%	0.22%	0.21%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-
Other Investing	-2.15M	368K	11.29M	-1.08M	-500K	-91K	1.73M	-22.72M	298.45M
Cash from Financing+	-85.87M	-28.93M	-3.43M	48.9M	366.4M	2.4B	43.24M	65.75M	-287.84M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-640K	-7.54M	-3.2M	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-
Other Financing	-62.3M	279K	4.7M	-4.77M	-11.41M	-86.23M	-35.95M	-3.09M	66.61M
Net Change in Cash	-	-	-	-	-	-	-	-	-
Free Cash Flow+	60.67M	59.98M	-19.65M	65.86M	4.22M	-79.98M	-141.28M	-122.87M	-85.83M
FCF Margin %	0.15%	0.14%	-0.04%	0.13%	0.01%	-0.06%	-0.06%	-0.05%	-0.04%
FCF Growth %	-	-0.01%	-1.33%	4.35%	-0.94%	-19.96%	-0.77%	0.13%	0.3%
FCF per Share	1.55	1.56	-0.51	1.74	0.13	-1.61	-2.43	-2.30	-1.77
FCF Conversion (FCF/Net Income)	1.58x	1.73x	1.53x	1.71x	-3.55x	-0.72x	-0.64x	-1.01x	-0.20x
Interest Paid	22.92M	20.07M	23.18M	35.04M	57.23M	65.93M	0	0	314.25M
Taxes Paid	39.05M	41.03M	22.22M	16.52M	3.83M	42.29M	0	0	2.23M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	38.8%	42.58%	30.05%	21.62%	-2.04%	-11.81%	-35.14%	-26%	-170.3%
Return on Invested Capital (ROIC)	17.75%	19.38%	16.49%	12.78%	-1.32%	2.07%	-4.18%	1.46%	-3.75%
Gross Margin	70.22%	70.21%	70.44%	64.63%	62.8%	59.54%	55.26%	54.87%	54.17%
Net Margin	10.81%	14.78%	16.33%	10.53%	-1.47%	-8.67%	-18.87%	-7.66%	-23.17%
Debt / Equity	3.59x	2.21x	1.32x	3.32x	3.56x	2.46x	5.61x	7.97x	159.83x
Interest Coverage	4.23x	5.42x	5.24x	2.88x	-0.29x	0.79x	-1.40x	0.37x	-0.83x
FCF Conversion	1.58x	1.73x	1.53x	1.71x	-3.55x	-0.72x	-0.64x	-1.01x	-0.20x
Revenue Growth	-	1.5%	3.91%	19.66%	-28.8%	254.74%	70.57%	8.57%	0.06%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Casino	-	-	1.05B	-	-	2.05B
Casino Growth	-	-	-	-	-	-
Hotel	19.94M	15.1M	-	87.54M	200.65M	148.69M
Hotel Growth	-	-24.27%	-	-	129.21%	-25.89%
Food and Beverage	31.57M	18.55M	-	70.48M	143.52M	135.21M
Food and Beverage Growth	-	-41.25%	-	-	103.65%	-5.79%
Product and Service, Other	7.59M	3.03M	-	10.2M	112.86M	108.04M
Product and Service, Other Growth	-	-60.09%	-	-	1007.02%	-4.27%
License	-	-	-	-	-	6.86M
License Growth	-	-	-	-	-	-
Loyalty Programs	-	-	-	-	186.65M	-
Loyalty Programs Growth	-	-	-	-	-	-

Revenue by Geography

	2019	2020	2021	2022	2023	2024
North America Interactive	-	-	76.7M	81.7M	112.57M	177.87M
North America Interactive Growth	-	-	-	6.51%	37.79%	58.01%
Southeast	-	114.83M	-	-	-	-
Southeast Growth	-	-	-	-	-	-
West	-	47.33M	-	-	-	-
West Growth	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Bally's Corporation (BALY) reported $2.52B in revenue for fiscal year 2024. This represents a 508% increase from $414.8M in 2016.

Bally's Corporation (BALY) grew revenue by 0.1% over the past year. Growth has been modest.

Bally's Corporation (BALY) reported a net loss of $591.1M for fiscal year 2024.

Dividend & Returns

Bally's Corporation (BALY) has a return on equity (ROE) of -170.3%. Negative ROE indicates the company is unprofitable.

Bally's Corporation (BALY) had negative free cash flow of $273.3M in fiscal year 2024, likely due to heavy capital investments.

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Bally's Corporation (BALY) 10-Year Financial Performance & Capital Metrics

BALY • • Industrial / General

Consumer CyclicalCasinos & GamingRegional & Local CasinosUS Regional Casino Chains

Revenue $2.45B
EBITDA $121M -73.3%
Net Income -$568M -202.8%
EPS (Diluted) -11.71 -233.6%
Gross Margin 54.17% -1.3%
EBITDA Margin 4.95% -73.3%
Operating Margin -10.54% -348.2%
Net Margin -23.17% -202.6%
ROE -170.3% -554.9%
ROIC -3.75% -356.0%
Debt/Equity 159.83 +1906.1%
Interest Coverage -0.83 -322.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Momentum leader: RS Rating 80 (top 20%)
✓Strong 5Y sales CAGR of 36.2%
✓Share count reduced 9.2% through buybacks

✗Weaknesses

✗High debt to equity ratio of 159.8x
✗Negative free cash flow
✗Expensive at 26.1x book value

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y36.16%

3Y22.83%

TTM1.54%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM22.27%

EPS CAGR

10Y-

5Y-

3Y-

TTM83.33%

ROCE

10Y Avg7.35%

5Y Avg-1.37%

3Y Avg-2.64%

Latest-4.63%

Peer Comparison

US Regional Casino Chains

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
CHDNChurchill Downs Incorporated	7.35B	105.48	18.57	11.07%	13.98%	37.36%	3.07%	4.46
BYDBoyd Gaming Corporation	6.88B	88.03	14.22	5.13%	13.99%	40.37%	8.09%	2.49
BALYBally's Corporation	818.06M	16.64	-1.42	0.06%	-23.45%	-113.25%		159.83
PENNPENN Entertainment, Inc.	1.84B	13.84	-6.75	3.38%	-13.24%	-46.27%		3.94

Profit & Loss

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	414.82M	421.05M	437.54M	523.58M	372.79M	1.32B	2.26B	2.45B	2.45B
Revenue Growth %	-	0.02%	0.04%	0.2%	-0.29%	2.55%	0.71%	0.09%	0%
Cost of Goods Sold+	123.54M	125.41M	129.34M	185.17M	138.67M	535.08M	1.01B	1.11B	1.12B
COGS % of Revenue	0.3%	0.3%	0.3%	0.35%	0.37%	0.4%	0.45%	0.45%	0.46%
Gross Profit+	291.27M	295.64M	308.2M	338.4M	234.12M	787.36M	1.25B	1.34B	1.33B
Gross Margin %	0.7%	0.7%	0.7%	0.65%	0.63%	0.6%	0.55%	0.55%	0.54%
Gross Profit Growth %	-	0.01%	0.04%	0.1%	-0.31%	2.36%	0.58%	0.08%	-0.01%
Operating Expenses+	178.82M	171.92M	181.03M	223.78M	252.51M	693.98M	1.54B	1.24B	1.59B
OpEx % of Revenue	0.43%	0.41%	0.41%	0.43%	0.68%	0.52%	0.68%	0.51%	0.65%
Selling, General & Admin	153.13M	155.49M	145.96M	180.4M	192.75M	496.66M	776.23M	888.79M	957.12M
SG&A % of Revenue	0.37%	0.37%	0.33%	0.34%	0.52%	0.38%	0.34%	0.36%	0.39%
Research & Development	0	0	0	0	0	0	0	0	0
R&D % of Revenue	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-2.66M	16.43M	22.33M	43.38M	59.76M	197.32M	763.25M	351.1M	628.54M
Operating Income+	112.46M	123.72M	120.65M	114.63M	-18.39M	93.38M	-293.01M	104.01M	-258.33M
Operating Margin %	0.27%	0.29%	0.28%	0.22%	-0.05%	0.07%	-0.13%	0.04%	-0.11%
Operating Income Growth %	-	0.1%	-0.02%	-0.05%	-1.16%	6.08%	-4.14%	1.35%	-3.48%
EBITDA+	137.53M	145.93M	142.98M	147.02M	19.46M	238.17M	7.55M	454.42M	121.22M
EBITDA Margin %	0.33%	0.35%	0.33%	0.28%	0.05%	0.18%	0%	0.19%	0.05%
EBITDA Growth %	-	0.06%	-0.02%	0.03%	-0.87%	11.24%	-0.97%	59.18%	-0.73%
D&A (Non-Cash Add-back)	25.07M	22.2M	22.33M	32.39M	37.84M	144.79M	300.56M	350.41M	379.54M
EBIT	109.97M	123.92M	120.82M	115.01M	-12.18M	-1.15M	-245.7M	97.92M	-242.16M
Net Interest Income+	-26.4M	-22.61M	-22.85M	-37.93M	-62.64M	-115.67M	-208.15M	-277.56M	-289.63M
Interest Income	180K	194K	173K	1.9M	612K	2.25M	616K	0	20.72M
Interest Expense	26.58M	22.81M	23.02M	39.83M	63.25M	117.92M	208.77M	277.56M	310.35M
Other Income/Expense	-29.06M	-22.61M	-22.85M	-39.45M	-56.42M	-212.46M	-161.46M	-289.75M	-294.17M
Pretax Income+	83.39M	101.11M	97.8M	75.18M	-74.81M	-119.07M	-454.47M	-185.74M	-552.5M
Pretax Margin %	0.2%	0.24%	0.22%	0.14%	-0.2%	-0.09%	-0.2%	-0.08%	-0.23%
Income Tax+	38.55M	38.86M	26.36M	20.05M	-69.32M	-4.38M	-28.92M	1.76M	15.25M
Effective Tax Rate %	0.54%	0.62%	0.73%	0.73%	0.07%	0.96%	0.94%	1.01%	1.03%
Net Income+	44.84M	62.25M	71.44M	55.13M	-5.49M	-114.7M	-425.55M	-187.5M	-567.75M
Net Margin %	0.11%	0.15%	0.16%	0.11%	-0.01%	-0.09%	-0.19%	-0.08%	-0.23%
Net Income Growth %	-	0.39%	0.15%	-0.23%	-1.1%	-19.9%	-2.71%	0.56%	-2.03%
Net Income (Continuing)	44.84M	62.25M	71.44M	55.13M	-5.49M	-114.7M	-425.55M	-187.5M	-567.75M
Discontinued Operations	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	3.76M	428K	428K	0
EPS (Diluted)+	1.12	1.56	1.85	1.46	-0.18	-1.45	-7.32	-3.51	-11.71
EPS Growth %	-	0.39%	0.19%	-0.21%	-1.12%	-7.06%	-4.05%	0.52%	-2.34%
EPS (Basic)	1.17	1.64	1.93	1.46	-0.18	-1.45	-7.32	-3.51	-11.71
Diluted Shares Outstanding	39.25M	38.44M	38.55M	37.82M	31.32M	49.64M	58.11M	53.35M	48.47M
Basic Shares Outstanding	37.42M	36.48M	36.94M	37.71M	31.32M	49.64M	58.11M	53.35M	48.47M
Dividend Payout Ratio	-	-	0.01%	0.14%	-	-	-	-	-

Balance Sheet

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	105.49M	134.05M	122.46M	245.03M	288.95M	567.19M	522.71M	572.35M	447.87M
Cash & Short-Term Investments	55.36M	85.81M	77.58M	182.58M	128.12M	206.19M	212.51M	163.19M	171.23M
Cash Only	55.36M	85.81M	77.58M	182.58M	123.44M	206.19M	212.51M	163.19M	171.23M
Short-Term Investments	0	0	0	0	4.67M	0	0	0	0
Accounts Receivable	17.47M	23.71M	22.97M	23.19M	8.71M	210.69M	166.61M	165.18M	118.16M
Days Sales Outstanding	15.37	20.55	19.16	16.17	8.52	58.15	26.96	24.62	17.6
Inventory	6.8M	7.26M	6.42M	7.9M	9.3M	11.49M	14.19M	14.63M	19.32M
Days Inventory Outstanding	20.09	21.13	18.11	15.57	24.47	7.84	5.13	4.83	6.28
Other Current Assets	25.86M	7.4M	3.85M	2.92M	130.71M	119.11M	114.98M	212.29M	123.87M
Total Non-Current Assets+	535.4M	584.08M	659.89M	776.86M	1.64B	5.99B	5.78B	6.29B	5.41B
Property, Plant & Equipment	280.84M	335.55M	416.15M	527.66M	785.14M	1.35B	2.01B	2.34B	2.18B
Fixed Asset Turnover	1.48x	1.25x	1.05x	0.99x	0.47x	0.98x	1.12x	1.05x	1.13x
Goodwill	132.03M	132.03M	132.03M	133.08M	186.98M	2.12B	1.75B	1.94B	1.8B
Intangible Assets	120.95M	115.37M	110.1M	110.37M	663.39M	2.48B	1.96B	1.87B	1.31B
Long-Term Investments	0	-15.47M	-9.83M	0	0	0	0	0	65.75M
Other Non-Current Assets	1.58M	1.13M	1.6M	5.74M	5.38M	27.01M	32.69M	110.32M	61.28M
Total Assets+	640.89M	718.13M	782.35M	1.02B	1.93B	6.55B	6.3B	6.86B	5.86B
Asset Turnover	0.65x	0.59x	0.56x	0.51x	0.19x	0.20x	0.36x	0.36x	0.42x
Asset Growth %	-	0.12%	0.09%	0.31%	0.89%	2.4%	-0.04%	0.09%	-0.15%
Total Current Liabilities+	65.33M	116.24M	75.59M	89.78M	143.19M	570.13M	755.8M	874.78M	677.81M
Accounts Payable	0	25.06M	14.21M	14.92M	15.87M	87.54M	70.07M	69.16M	85.77M
Days Payables Outstanding	-	72.94	40.11	29.41	41.77	59.71	25.34	22.84	27.87
Short-Term Debt	10.68M	33.33M	3.6M	3M	5.75M	19.45M	19.45M	19.45M	19.45M
Deferred Revenue (Current)	0	1000K	1000K	0	0	0	0	0	0
Other Current Liabilities	40.1M	42.94M	38.57M	33.03M	11.63M	184.63M	172.78M	216.26M	143.01M
Current Ratio	1.61x	1.15x	1.62x	2.73x	2.02x	0.99x	0.69x	0.65x	0.66x
Quick Ratio	1.51x	1.09x	1.54x	2.64x	1.95x	0.97x	0.67x	0.64x	0.63x
Cash Conversion Cycle	-	-31.26	-2.84	2.33	-8.78	6.27	6.75	6.61	-4
Total Non-Current Liabilities+	460M	425.1M	408.1M	720.69M	1.46B	4.37B	4.74B	5.35B	5.15B
Long-Term Debt	404.31M	357.88M	390.58M	680.6M	1.09B	3.43B	3.47B	3.64B	3.3B
Capital Lease Obligations	0	0	0	16.21M	62.02M	506.48M	1B	1.35B	1.55B
Deferred Tax Liabilities	0	11.65M	17.53M	13.79M	0	214.47M	138.02M	125.59M	118.21M
Other Non-Current Liabilities	55.69M	67.22M	0	10.09M	303.93M	219.56M	127.73M	233.29M	179.41M
Total Liabilities	525.32M	541.33M	483.69M	810.48M	1.6B	4.94B	5.49B	6.23B	5.83B
Total Debt+	414.99M	391.2M	394.17M	700.83M	1.16B	3.98B	4.52B	5.07B	4.94B
Net Debt	359.63M	305.39M	316.59M	518.25M	1.04B	3.77B	4.31B	4.9B	4.77B
Debt / Equity	3.59x	2.21x	1.32x	3.32x	3.56x	2.46x	5.61x	7.97x	159.83x
Debt / EBITDA	3.02x	2.68x	2.76x	4.77x	59.80x	16.70x	599.22x	11.15x	40.75x
Net Debt / EBITDA	2.62x	2.09x	2.21x	3.53x	53.45x	15.83x	571.07x	10.79x	39.33x
Interest Coverage	4.23x	5.42x	5.24x	2.88x	-0.29x	0.79x	-1.40x	0.37x	-0.83x
Total Equity+	115.57M	176.8M	298.66M	211.41M	326.6M	1.62B	806.25M	635.85M	30.9M
Equity Growth %	-	0.53%	0.69%	-0.29%	0.54%	3.95%	-0.5%	-0.21%	-0.95%
Book Value per Share	2.94	4.60	7.75	5.59	10.43	32.55	13.87	11.92	0.64
Total Shareholders' Equity	115.57M	176.8M	298.66M	211.41M	326.6M	1.61B	805.82M	635.43M	30.9M
Common Stock	90K	362K	380K	412K	307K	530K	466K	400K	408K
Retained Earnings	70.9M	130.81M	202.88M	250.42M	34.79M	-181.58M	-535.37M	-555.89M	-1.12B
Treasury Stock	0	-22.27M	-30.23M	-223.07M	0	-29.17M	0	0	0
Accumulated OCI	0	0	0	-1.89M	-3.14M	-26.81M	-295.64M	-209.56M	-260.27M
Minority Interest	0	0	0	0	0	3.76M	428K	428K	0

Cash Flow

	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	70.69M	107.83M	109.24M	94.1M	19.5M	82.75M	270.97M	188.61M	114M
Operating CF Margin %	0.17%	0.26%	0.25%	0.18%	0.05%	0.06%	0.12%	0.08%	0.05%
Operating CF Growth %	-	0.53%	0.01%	-0.14%	-0.79%	3.24%	2.27%	-0.3%	-0.4%
Net Income	44.84M	62.25M	71.44M	55.13M	-5.49M	-71.8M	-425.55M	-187.5M	-567.75M
Depreciation & Amortization	25.07M	22.2M	22.33M	32.39M	37.84M	144.79M	300.56M	350.41M	379.54M
Stock-Based Compensation	6.33M	17.79M	-1.47M	3.83M	17.71M	20.14M	0	0	14.75M
Deferred Taxes	4.36M	-5.13M	5.88M	8.99M	1.19M	-5.22M	-88.13M	-23.92M	23.95M
Other Non-Cash Items	6.87M	3.34M	9.99M	5.9M	23.28M	56.42M	446.97M	36.52M	283.11M
Working Capital Changes	-16.77M	7.38M	1.07M	-12.14M	-55.03M	-61.58M	37.11M	13.11M	-19.6M
Change in Receivables	-4.02M	-870K	-4.86M	5.21M	11.62M	0	0	0	0
Change in Inventory	-621K	-461K	842K	-89K	125K	0	0	0	0
Change in Payables	3.29M	1.16M	-4.08M	-3.86M	-4.98M	0	0	0	0
Cash from Investing+	-12.18M	-47.48M	-117.6M	-38.92M	-444.85M	-2.3B	-302.92M	-207.79M	97.83M
Capital Expenditures	-10.02M	-47.85M	-128.89M	-28.24M	-15.28M	-162.73M	-505.16M	-502.17M	-199.83M
CapEx % of Revenue	0.02%	0.11%	0.29%	0.05%	0.04%	0.12%	0.22%	0.21%	0.08%
Acquisitions	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-
Other Investing	-2.15M	368K	11.29M	-1.08M	-500K	-91K	1.73M	-22.72M	298.45M
Cash from Financing+	-85.87M	-28.93M	-3.43M	48.9M	366.4M	2.4B	43.24M	65.75M	-287.84M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	-640K	-7.54M	-3.2M	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-
Other Financing	-62.3M	279K	4.7M	-4.77M	-11.41M	-86.23M	-35.95M	-3.09M	66.61M
Net Change in Cash	-	-	-	-	-	-	-	-	-
Free Cash Flow+	60.67M	59.98M	-19.65M	65.86M	4.22M	-79.98M	-141.28M	-122.87M	-85.83M
FCF Margin %	0.15%	0.14%	-0.04%	0.13%	0.01%	-0.06%	-0.06%	-0.05%	-0.04%
FCF Growth %	-	-0.01%	-1.33%	4.35%	-0.94%	-19.96%	-0.77%	0.13%	0.3%
FCF per Share	1.55	1.56	-0.51	1.74	0.13	-1.61	-2.43	-2.30	-1.77
FCF Conversion (FCF/Net Income)	1.58x	1.73x	1.53x	1.71x	-3.55x	-0.72x	-0.64x	-1.01x	-0.20x
Interest Paid	22.92M	20.07M	23.18M	35.04M	57.23M	65.93M	0	0	314.25M
Taxes Paid	39.05M	41.03M	22.22M	16.52M	3.83M	42.29M	0	0	2.23M

Key Ratios

Metric	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	38.8%	42.58%	30.05%	21.62%	-2.04%	-11.81%	-35.14%	-26%	-170.3%
Return on Invested Capital (ROIC)	17.75%	19.38%	16.49%	12.78%	-1.32%	2.07%	-4.18%	1.46%	-3.75%
Gross Margin	70.22%	70.21%	70.44%	64.63%	62.8%	59.54%	55.26%	54.87%	54.17%
Net Margin	10.81%	14.78%	16.33%	10.53%	-1.47%	-8.67%	-18.87%	-7.66%	-23.17%
Debt / Equity	3.59x	2.21x	1.32x	3.32x	3.56x	2.46x	5.61x	7.97x	159.83x
Interest Coverage	4.23x	5.42x	5.24x	2.88x	-0.29x	0.79x	-1.40x	0.37x	-0.83x
FCF Conversion	1.58x	1.73x	1.53x	1.71x	-3.55x	-0.72x	-0.64x	-1.01x	-0.20x
Revenue Growth	-	1.5%	3.91%	19.66%	-28.8%	254.74%	70.57%	8.57%	0.06%

Revenue by Segment

	2019	2020	2021	2022	2023	2024
Casino	-	-	1.05B	-	-	2.05B
Casino Growth	-	-	-	-	-	-
Hotel	19.94M	15.1M	-	87.54M	200.65M	148.69M
Hotel Growth	-	-24.27%	-	-	129.21%	-25.89%
Food and Beverage	31.57M	18.55M	-	70.48M	143.52M	135.21M
Food and Beverage Growth	-	-41.25%	-	-	103.65%	-5.79%
Product and Service, Other	7.59M	3.03M	-	10.2M	112.86M	108.04M
Product and Service, Other Growth	-	-60.09%	-	-	1007.02%	-4.27%
License	-	-	-	-	-	6.86M
License Growth	-	-	-	-	-	-
Loyalty Programs	-	-	-	-	186.65M	-
Loyalty Programs Growth	-	-	-	-	-	-

Revenue by Geography

	2019	2020	2021	2022	2023	2024
North America Interactive	-	-	76.7M	81.7M	112.57M	177.87M
North America Interactive Growth	-	-	-	6.51%	37.79%	58.01%
Southeast	-	114.83M	-	-	-	-
Southeast Growth	-	-	-	-	-	-
West	-	47.33M	-	-	-	-
West Growth	-	-	-	-	-	-

Frequently Asked Questions

Growth & Financials

Bally's Corporation (BALY) reported $2.52B in revenue for fiscal year 2024. This represents a 508% increase from $414.8M in 2016.

Bally's Corporation (BALY) grew revenue by 0.1% over the past year. Growth has been modest.

Bally's Corporation (BALY) reported a net loss of $591.1M for fiscal year 2024.

Dividend & Returns

Bally's Corporation (BALY) has a return on equity (ROE) of -170.3%. Negative ROE indicates the company is unprofitable.

Bally's Corporation (BALY) had negative free cash flow of $273.3M in fiscal year 2024, likely due to heavy capital investments.