#2 - Bally’s (NYSE:BALY)
Bally’s (NYSE:BALY) is best known for its portfolio of casino properties. There’s no question that the company is benefiting now that its properties are fully open for business. And that revenue is likely to continue growing after the company completes its $308 million acquisition of the Tropicana on the Las Vegas strip.
However, that doesn’t fully explain the 100%+ growth in revenue over the past 12 months. For that, investors would be wise to look at the company’s investment in the i-gaming/online sports betting sector. Plus, the company’s partnership with Sinclair Broadcast Group (NASDAQ:SBGI) which allow the company to put its brand on Sinclair’s regional sports networks. This is another way to seed its brand with minimal marketing spend. This will help give Bally’s an anchor in this space.
The company is profitable and is expected to show double-digit growth in both revenue and profits in the next five years.
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
- $17.73
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 7 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $17.14 (3.3% Downside)
