BALY Receives Shareholders' Nod for the Queen Casino Buyout

Zacks11-20

Bally's Corporation BALY recently announced the securement of its shareholder's approval for its merger with The Queen Casino & Entertainment Inc. (QC&E), a regional gaming operator majority-owned by ...

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(QC&E), a regional gaming operator majority-owned by ...</p>\n\n<a href=\"https://finance.yahoo.com/news/baly-receives-shareholders-nod-queen-142100334.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CCL","symbol_name":"嘉年华邮轮","start_time":0,"source_url":"https://finance.yahoo.com/news/baly-receives-shareholders-nod-queen-142100334.html","article_id":"2485149796","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/3c6vAe0unAN.GdGHDaFAyA--~B/aD0zNDk7dz02MjA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/731be30d9b06a112bd4beb50317b9f27"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2485149796","pubTimestamp":1732112460,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Bally's Corporation BALY recently announced the securement of its shareholder's approval for its merger with The Queen Casino & Entertainment Inc. , a regional gaming operator majority-owned by Standard General L.P.The merger enhances Bally’s Casino & Resorts segment while adding diversity and scale to its portfolio. 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(QC&E), a regional gaming operator majority-owned by Standard General L.P.\nThe merger enhances Bally’s Casino & Resorts segment while adding diversity and scale to its portfolio. Bally’s CEO Robeson Reeves highlighted the synergies, noting that the deal positions the company for enhanced revenues, EBITDAR growth and long-term value creation.\nThe merger includes the integration of QC&E’s four properties, including DraftKings at Casino Queen in Illinois, Queen Marquette in Iowa and two casinos in Louisiana. With two significant redevelopment projects underway, set to conclude by 2025, QC&E’s operations are likely to drive organic growth aligning with Bally’s expansion goals.\nThe transaction is backed by $500 million in committed financing and is anticipated to close in the first half of 2025.\nBALY’s Price Performance\nImage Source: Zacks Investment Research\nComing to price performance, shares of BALY have gained 37.8% in the past six months compared with the industry’s 15.6% growth. The company is benefiting from its focus on strategic expansions, cost-effective customer acquisition and a robust online sports betting operation. Also, healthy traction for the JackpotJoy offering branded products bodes well. Going forward, the company emphasizes strengthening its interactive gaming and sports betting platforms, alongside strategic acquisitions, to drive growth.\nHowever, the company is facing operational challenges in Rhode Island and Atlantic City. Additionally, the slow pace of approvals for its New York casino proposal and the volatile nature of its international markets raise concerns about its long-term growth potential. Meanwhile, loss estimates for 2024 have widened in the past 30 days, depicting analysts' concern regarding the stock growth potential.\nBALY’s Zacks Rank & Key Picks\nBally's currently has a Zacks Rank #4 (Sell).\nHere are some better-ranked stocks from the Zacks Consumer Discretionary sector.Carnival Corporation & plc CCL currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.CCL has a trailing four-quarter earnings surprise of 318.1%, on average. The stock has surged 76.9% in the past year. The Zacks Consensus Estimate for CCL’s fiscal 2024 sales indicates growth of 16.6% from year-ago levels.Norwegian Cruise Line Holdings Ltd. NCLH currently carries a Zacks Rank #2 (Buy). NCLH has a trailing four-quarter earnings surprise of 4.2%, on average. The stock has surged 83.8% in the past year.The Zacks Consensus Estimate for NCLH’s 2024 sales and EPS indicate growth of 10.2% and 127.1%, respectively, from year-ago levels.Royal Caribbean Cruises Ltd. RCL currently carries a Zacks Rank #2. RCL has a trailing four-quarter earnings surprise of 16.2%, on average. The stock has surged 123.8% in the past year.The Zacks Consensus Estimate for RCL’s 2024 sales and EPS indicate growth of 18.6% and 71.6%, respectively, from year-ago levels.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nCarnival Corporation (CCL) : Free Stock Analysis Report\nRoyal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report\nNorwegian Cruise Line Holdings Ltd. (NCLH) : Free Stock Analysis Report\nBally's Corporation (BALY) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2485149796"}