#4 - Bally's (NYSE:BALY)
With a $1.8 billion market cap as of this writing, Bally’s (NYSE:BALY) is currently below the technical threshold for a mid-cap stock. However, it was solidly in the mid-cap sector for most of 2021. And with a little growth, it will fall in that category again.
The growth opportunity comes from its Bally Bet platform. This gives the company in the lucrative gaming/sports betting sector. That means it will be competing with heavy hitters (and established players) such as DraftKings (NASDAQ:DKNG). To help it compete, the company has partnerships in place with many regional sports networks through its partnership with Sinclair Broadcast Group (NASDAQ:SBGI).
Be advised that Bally’s has received a buyout offer from the hedge fund Standard General, its largest institutional investor. If the offer is accepted, Bally’s would go private. However, with the takeover offer being for $38 per share, price action could become volatile.
About Bally's
Bally's Corporation operates as a casino-entertainment company. It owns and manages casinos across 10 states, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses in 18 states. It also owns Bally's Interactive International, an online gaming operator; Bally Bet, a sports betting platform; and Bally Casino, an iCasino platform.
Read More - Current Price
- $17.78
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $17.14 (3.6% Downside)
