Start here if you're new
what it is
Bally's runs casinos, hotel rooms, and online betting, then tries to turn all that foot traffic into cash.
how it gets paid
Last year S made $2.5B in revenue. casinos & resorts gaming was the main engine at $1.78B, or 71% of sales.
what just happened
Revenue hit $1.7B, but Bally's still posted a loss of -$4.90 per share.
At a glance
n/a balance sheet
-$6.69 fy2025 eps est
$4B fy2025 rev est
10.5% operating margin
~$624M market cap
What they do
Bally's runs casinos, hotel rooms, and online betting, then tries to turn all that foot traffic into cash.
Bally's wins the old-fashioned way: physical scale. It has 17,700 slot machines, 630 table games, and 3,950 hotel rooms, which means you can reach customers on a casino floor, in a hotel bed, or on a betting app. That reach creates cross-sell (selling one customer more things) -> more spend per visit -> so what: you are not betting on one casino, you are betting on a network.
How they make money
$2.5B
annual revenue
casinos & resorts gaming
$1.78B
hotel, food & beverage
$0.25B
north america interactive
$0.20B
international interactive
$0.18B
sports betting & other
$0.09B
The products that matter
operates physical casino properties
Casinos & Resorts
~$1.9B shown segment revenue
this is the core business. 19 properties across 11 US states and the UK generated roughly $1.9B of the segment revenue shown here. if the properties wobble, the rest of the story has less room to hide.
19 properties
runs online casino and sportsbook
Interactive
~$600M shown segment revenue
the interactive segment is roughly $600M in the snapshot data and growing around 30%. that growth is real. the catch is a company-wide -23.17% profit margin, which means growth is not reaching the bottom line yet.
+~30% growth
major development project
Chicago casino project
execution matters more than story
this is one of the biggest future value questions in the story, but the snapshot does not provide project-level revenue or return targets. that thin disclosure is part of the risk. you are being asked to underwrite execution with limited hard numbers.
catalyst watch
Key numbers
-$6.69
fy2025 eps est
$4B
fy2025 rev est
n/a
trailing p/e
n/a
dividend yield
Financial health
n/a
strength
- balance sheet grade n/a
- long-term debt $5.5B (90% of capital)
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for BALY right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $1.7B, but Bally's still posted a loss of -$4.90 per share.
Sales rose 155% vs. prior year, but growth did not translate into profit. The quiet part out loud: when revenue jumps and losses stay ugly, leverage usually owns the story.
$1.7B
revenue
-$4.90
eps
+155%
vs. last year revenue growth
the number that mattered
$1.7 billion of quarterly revenue matters because it proves Bally's has scale, but the -$4.90 EPS shows that scale is not yet producing profit.
source: EDGAR filing, 2026
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What could go wrong
the #1 risk is $5.5B of long-term debt sitting on top of a $624M equity value. this is Bally's-specific, and it changes everything: decent operating progress still has to fight through a very heavy capital structure.
high
debt load and refinancing risk
Bally's has $5.5B in long-term debt and debt represents 90% of capital. if refinancing comes at worse terms, the hit lands on equity value before it lands anywhere else.
this is balance-sheet risk with direct consequences for liquidity, flexibility, and what common shareholders are left with.
high
profitability still has not arrived
a -23.17% profit margin and a fy2025 EPS estimate of -$6.69 mean the company is still losing money after interest and everything else. revenue growth matters less if losses stay this deep.
if margins do not improve, the turnaround case becomes a story about buying time rather than creating value.
med
Standard General buyout scrutiny
the proposed buyout is under shareholder-lawyer scrutiny, including questions around fiduciary duties. if the process drags or breaks, the event premium can disappear fast.
that keeps the stock sensitive to legal and deal headlines instead of just business results.
med
Chicago casino execution
Chicago is one of the biggest strategic bets in the story, but this snapshot does not include project economics. when the return targets are missing, you have less visibility into what success even needs to look like.
a major project can absorb capital for years. if returns disappoint, the balance sheet gets even less forgiving.
put the pieces together and the equity looks like the speculative layer underneath $5.5B of debt, negative margins, and an unresolved corporate event.
source: institutional data · regulatory filings · risk analysis
Pay attention to
risk
debt management
the first question is simple: can Bally's handle or refinance $5.5B of debt without leaving the equity even thinner.
catalyst
final Q4 2025 results
preliminary revenue was $746.2M. you want the audited margin detail, not just the growth headline.
trend
interactive growth versus group losses
the interactive business is growing around 30%. the real test is whether that starts shrinking the -23.17% company-wide margin hole.
metric
stock price versus analyst target
the shares trade at $17.19 against a $15.40 average target. if the stock keeps outrunning the models without cleaner fundamentals, expectations can reset the hard way.
Analyst rankings
coverage
limited
in human-speak, there is not enough broad sell-side coverage here to treat consensus like a safety blanket.
avg. target
$15.40
that's below the current $17.19 stock price, so the average published model is not endorsing the recent move.
earnings view
-$6.69
the street still expects negative full-year EPS. translation: this is not an earnings-quality story yet.
source: institutional data
Institutional activity
institutional ownership data for BALY is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$17
current price
n/a
target midpoint · n/a from current
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