#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 Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company's casino and resort properties, a horse racetrack, and a golf course.
More about Bally's- Current Price
- $16.71
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $18.00 (7.8% Upside)
