US stock futures flounder amid tech weakness, Fed caution
Bally’s Corp (NYSE:BALY) announced Monday that it will provide carve-out consolidated financial statements for its “Bally’s International Interactive” business for the years ended December 31, 2024 and 2023. The disclosure comes as part of preparations for the company’s previously announced transaction with Intralot S.A., a Greek publicly listed company.
According to a statement in a Securities and Exchange Commission filing, Intralot is expected to acquire all issued and outstanding capital stock of Bally’s Holdings Limited, a subsidiary of Bally’s Corp that holds the international interactive business. The closing of the transaction is anticipated to occur in the fourth quarter of 2025. Following completion, Bally’s Corp is expected to become the majority shareholder of Intralot.
The financial statements for Bally’s International Interactive have been prepared in accordance with International Financial Reporting Accounting Standards, with specific carve-out adjustments detailed in the notes. These statements are intended to be made available to prospective investors in connection with certain Intralot financing transactions related to the deal.
Bally’s Corp stated that the financial statements are being filed as an exhibit to the current SEC filing and are incorporated by reference. The company noted that the information is being furnished for informational purposes and will not be deemed “filed” for purposes of the Securities Exchange Act of 1934.
This report is based on a statement issued in a press release contained within a filing to the Securities and Exchange Commission.
In other recent news, Bally’s Corporation has announced the completion of its first Community Investment Program for the Bally’s Chicago casino and resort project, attracting nearly 1,800 local investors. This initiative has allowed non-accredited local residents to invest in the Chicago development, with participation from 1,007 Chicago residents and 1,573 Illinois-based shareholders. In another significant development, Bally’s has entered into a definitive agreement with Intralot S.A. to sell its international interactive unit, valuing the business at approximately €2.7 billion. Bally’s will receive €1.53 billion in cash and newly issued Intralot shares, making it the majority shareholder upon completion of the transaction.
Stifel has maintained its Hold rating on Bally’s stock, though it lowered the price target to $10 from $12 after Bally’s reported a 3% miss on second-quarter adjusted EBITDAR. The company’s Casinos & Resorts segment has missed expectations for the seventh time in eight quarters, despite slightly higher revenues, and has experienced margin contraction. Stifel’s analysis follows the announcement of the Intralot deal, which values the business at approximately 10 times the 2025 estimated adjusted EBITDA. These recent developments reflect Bally’s strategic moves and financial performance in the current market landscape.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.