What Happened?
Shares of gaming, betting and entertainment company Bally's Corporation (NYSE: BALY) jumped 2.8% in the afternoon session after the stock extended its positive momentum as the company announced a transaction agreement with Intralot S.A. Under the agreement, Intralot was set to acquire Bally's International Interactive business by the fourth quarter of 2025, which would make Bally's the majority shareholder of Intralot.
The shares closed the day at $11.09, up 2.2% from previous close.
Is now the time to buy Bally's? Access our full analysis report here, it’s free.
What Is The Market Telling Us
Bally’s shares are extremely volatile and have had 54 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 2 days ago when the stock gained 4.9% on the news that Greek gambling company Intralot secured €660 million ($776 million) in financing to help fund its acquisition of Bally's Interactive International division. This move was a key step toward finalizing a cash-and-stock deal announced in July. The transaction was structured as a reverse-style merger, which positioned Bally's to become the majority shareholder of Intralot upon completion. For Bally's, the deal strengthened its cash reserves, helping to fuel major projects like the construction of its flagship casino in Chicago. The acquisition, expected to close before the end of 2025, aimed to create a leading company in the iGaming and lottery sectors with projected combined revenues of €1.1 billion.
Bally's is down 43% since the beginning of the year, and at $11.09 per share, it is trading 49.8% below its 52-week high of $22.07 from November 2024.
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
