Bally's stock soars to 52-week high, hits $18.08

Published 16/01/2025, 15:36
Bally's stock soars to 52-week high, hits $18.08

In a remarkable display of resilience, Bally's Corporation (BALY) stock has surged to a 52-week high, reaching a price level of $18.08. This milestone underscores a significant turnaround for the company, which has seen an impressive 1-year return of nearly 70%. According to InvestingPro data, the company has demonstrated strong momentum with a 30% gain over the past six months, while management has been actively buying back shares. Investors have responded positively to the company's strategic initiatives and growth prospects, propelling the stock to new heights and reflecting a robust recovery from past challenges. The achievement of this 52-week high marks a noteworthy moment for Bally's as it continues to navigate the competitive landscape of the gaming and hospitality industry. With a market capitalization of $734 million and current valuation metrics suggesting fair pricing, investors can access comprehensive analysis and 12 additional key insights through InvestingPro's detailed research reports.

In other recent news, Bally's Corporation has been making significant strides in its expansion strategy. The company's shareholders have approved two pivotal mergers with SG Parent LLC and The Queen Casino (EPA:CASP) & Entertainment Inc. These decisions, endorsed in special meetings, are expected to close in the first quarter and first half of 2025, respectively, pending regulatory approvals and standard closing conditions.

Bally's Corporation has also released its third-quarter 2024 results. The company's management, including Senior Vice President and Treasurer Charlie Diao, CEO Robeson Reeves, President George Papanier, and CFO Marcus Glover, highlighted forward-looking statements and non-GAAP financial measures during the earnings call. However, uncertainties were acknowledged due to the unpredictability of non-recurring expenses and one-time costs.

In analyst news, no upgrades or downgrades were reported for Bally's Corporation. The focus remains on the upcoming Casino Queen merger, seen as a strategic growth initiative for the company. These recent developments underscore Bally's Corporation's proactive approach to managing potential risks while pursuing its expansion plans.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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