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Bally’s Corporation (NYSE:BALY), a leading gaming and hospitality company currently trading at $11 per share, announced the results of its 2025 Annual Meeting of Shareholders held virtually on May 15, 2025. The meeting comes at a challenging time for the company, with InvestingPro data showing a significant 40% decline in stock value year-to-date. The meeting saw shareholders vote on several key proposals, including the election of directors, approval of executive compensation, and ratification of the company’s independent auditor.
Shareholders elected Soohyung Kim, Tracy S. Harris, and Robeson M. Reeves to serve as directors for a three-year term. The election results indicated strong support, with Kim receiving 36,184,755 votes for, 97,630 withheld, and 967,802 broker non-votes. Harris and Reeves garnered similar numbers, showing a clear mandate from the shareholders for the elected board members.
In addition, the appointment of Deloitte & Touche LLP as Bally’s independent registered public accounting firm for the fiscal year ending December 31, 2025, was ratified by an overwhelming majority. The proposal received 37,193,279 votes for, 27,636 against, and 29,272 abstentions.
The compensation of Bally’s named executive officers was approved on a non-binding advisory basis, with 36,270,644 votes for, 9,547 against, 2,194 abstentions, and 967,802 broker non-votes.
Furthermore, shareholders approved the Bally’s Corporation Amended and Restated 2021 Equity Incentive Plan, with 36,231,314 votes for, 49,225 against, 1,846 abstentions, and 967,802 broker non-votes.
The meeting’s outcomes reflect the shareholders’ satisfaction with the company’s governance and strategic direction, despite facing financial headwinds. According to InvestingPro analysis, Bally’s operates with a debt-to-equity ratio of 11.3 and currently generates $2.4 billion in annual revenue. The company, originally known as Twin River Worldwide Holdings (NYSE:TRWH), Inc., has been operating under its current name since a November 2020 name change, following a previous name change in 2018. Want deeper insights? InvestingPro subscribers have access to over 10 additional key insights about Bally’s Corporation, including detailed financial health metrics and expert analysis in our comprehensive Pro Research Report.
The SEC filing on May 20, 2025, ensures transparency and provides investors with detailed information about the company’s governance and shareholder voting results. InvestingPro’s Financial Health Score indicates a WEAK overall rating, with analysts projecting continued challenges ahead. The company’s next earnings report is scheduled for July 31, 2025, where investors will be watching closely for signs of improvement in its operational performance.
In other recent news, Bally’s Corporation reported several significant developments. The company announced a strategic investment of $187 million in The Star Entertainment Group, an Australian gaming company, aimed at supporting its turnaround efforts. This transaction could potentially allow Bally’s to own a substantial share of The Star, contingent on shareholder and regulatory approvals. Meanwhile, Fitch Ratings downgraded Bally’s Issuer Default Rating due to concerns over high leverage, projecting that leverage could rise further in the near term. Citizens JMP maintained a Market Perform rating on Bally’s stock, citing the company’s ongoing development projects and potential opportunities in New York and Las Vegas.
Additionally, Bally’s has appointed Mira Mircheva as the new Executive Vice President and Chief Financial Officer, pending regulatory approvals, as part of a broader executive team reshuffle. Barclays (LON:BARC) analyst Brandt Montour adjusted Bally’s stock price target to $14, down from $18, following a weaker-than-expected fourth-quarter EBITDAR performance. This adjustment reflects challenges in the Casino (EPA:CASP) & Resorts segment, although it was partially offset by stronger results in the International Interactive division. Bally’s continues to focus on its development pipeline, including major projects like the downtown Chicago casino and potential expansion into new markets.
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