Bally's Corp

BALY

Hotels & Motels

Mkt Cap

$581.5M

PE

-1.08

Debt

$3.7B

Cash

$310.9M

EV

$3.97B

FCF

-$98.99M

Market Cap

$581.5M

P/E Ratio

-1.08

Debt

$3.7B

Cash

$310.9M

EV

$3.97B

FCF

-$98.99M

Charts data: {"Earnings":[{"time":"2017-12-30","value":59903000},{"time":"2018-12-30","value":71438000},{"time":"2019-12-30","value":55130000},{"time":"2020-12-30","value":-5487000},{"time":"2021-12-30","value":-71799000},{"time":"2022-12-30","value":-425546000},{"time":"2023-12-30","value":-187500000}],"Sales":[{"time":"2017-12-30","value":421053000},{"time":"2018-12-30","value":437537000},{"time":"2019-12-30","value":523577000},{"time":"2020-12-30","value":372792000},{"time":"2021-12-30","value":1322443000},{"time":"2022-12-30","value":2255705000},{"time":"2023-12-30","value":2449073000}],"Net Margins":[{"time":"2017-12-30","value":0.14226950051418705},{"time":"2018-12-30","value":0.1632730489078638},{"time":"2019-12-30","value":0.10529492319181324},{"time":"2020-12-30","value":-0.014718663490632847},{"time":"2021-12-30","value":-0.05429269919384049},{"time":"2022-12-30","value":-0.18865321484857284},{"time":"2023-12-30","value":-0.0765595798900237}],"Assets":[{"time":"2018-12-30","value":782352000},{"time":"2019-12-30","value":1021887000},{"time":"2020-12-30","value":1929855000},{"time":"2021-12-30","value":6553217000},{"time":"2022-12-30","value":6300113000},{"time":"2023-12-30","value":6861103000}],"Stockholders Equity":[{"time":"2017-12-30","value":176803000},{"time":"2018-12-30","value":298660000},{"time":"2019-12-30","value":211411000},{"time":"2020-12-30","value":326598000},{"time":"2021-12-30","value":1615802000},{"time":"2022-12-30","value":806247000},{"time":"2023-12-30","value":635854000}],"ROE":[{"time":"2017-12-30","value":0.3388121242286613},{"time":"2018-12-30","value":0.23919507131855622},{"time":"2019-12-30","value":0.2607716722403281},{"time":"2020-12-30","value":-0.01680047030294123},{"time":"2021-12-30","value":-0.044435518708356596},{"time":"2022-12-30","value":-0.527810956195806},{"time":"2023-12-30","value":-0.2948790131067824}],"ROA":[{"time":"2018-12-30","value":0.1542131930384277},{"time":"2019-12-30","value":0.112170915179467},{"time":"2020-12-30","value":-0.009527140640099904},{"time":"2021-12-30","value":0.01424979517693371},{"time":"2022-12-30","value":-0.04650837215142014},{"time":"2023-12-30","value":0.015159224398759209}]}

Bally's Corporation, a gaming, hospitality, and entertainment company, engages in casinos and resorts, and online gaming businesses in the United States. The company operates through three segments: Casinos & Resorts, North America Interactive, and International Interactive. It offers physical and interactive entertainment and gaming experiences, including traditional casino offerings, iCasino, online bingo games, sportsbook, daily fantasy sports, and free-to-play games. The company owns and manages Twin River Hotel in Lincoln, Rhode Island; Hard Rock Hotel & Casino in Biloxi, Mississippi; Tiverton Casino & Hotel in Tiverton, Rhode Island; Dover Casino Resort in Dover, Delaware; Black Hawk hotel in Black Hawk, Colorado; Kansas City Casino in Kansas City, Missouri; Vicksburg Casino in Vicksburg, Mississippi; Atlantic City Casino Resort in Atlantic City, New Jersey; Shreveport Casino & Hotel in Shreveport, Louisiana; Lake Tahoe Casino Resort in Lake Tahoe, Nevada; Evansville Casino & Hotel in Evansville, Indiana; Quad Cities Casino & Hotel in Rock Island, Illinois; and Arapahoe Park in Aurora, Colorado. The company was formerly known as Twin River Worldwide Holdings, Inc. and changed its name to Bally's Corporation in November 2020. Bally's Corporation was incorporated in 2004 and is headquartered in Providence, Rhode Island.

Sector

10-Q
9/30/23
10-Q
6/30/23
10-Q
3/31/23
10-K
12/31/22
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10-K
12/31/19
10-Q
9/30/19
10-Q
6/30/19
10-Q
3/31/19
10-K
12/31/18

Chart P/E ratio

In the chart Earnings are multiplied by this value.

Earnings Growth -1.5%

Earnings Stability -100%

Competitiveness and MOAT

High margins render the company resilient under dire circumstances, hence able to drive competitors out or acquire them. ROE and ROA measure the average flow generated by each invested dollar. Their marginal value is a forecast of future growth, and it is considered by Buffett and Munger the most important single indicator.

The Net Margin is too low to guarantee profitability in case of higher costs or higher interest rates. Furthermore lower margins cause higher earnings’ volatility.

Over time the ROA has been decreasing indicating a lower marginal ROA with respect to the calculated one, this could impede growth.

Years	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Net Margin	14%	16%	11%	-1.5%	-5.4%	-19%	-7.7%	-22%
ROA	-	15%	11%	-0.95%	1.4%	-4.7%	1.5%	-5.2%
ROE	34%	24%	26%	-1.7%	-4.4%	-53%	-29%	-120%

What is the average Net Margin?

The average Net Margin over the past 5 years is -1.09%.

What is the trend of Net Margin?

The trend of Net Margin over the past 5 years is -6.06%.

What is the average Return on Assets (ROA)?

The average ROA over the past 5 years is +4%.

What is the trend of Return on Assets (ROA)?

The trend of ROA over the past 5 years is -3.28%.

What is the average Return on Equity (ROE)?

The average ROE over the past 5 years is -6.4%.

What is the trend of Return on Equity (ROE)?

The trend of ROE over the past 5 years is -14.47%.

Safety & Stabiliy

Being debt the number one cause of investment losses and company death, the ratio Debt/FCF is of utmost importance to guarantee safety. On the other hand the Graham’s stability measures the drawdown of earnings, hence indicating the reliability of the flow generated by the company.

Under the assumption that FCF does not diminish and debt does not increase, the current years to repay the debt are acceptable.

The Graham’s stability indicate a relevant drawdown, consider checking when it has occured and why.

Years	12-2017	12-2018	12-2019	12-2020	12-2021	12-2022	12-2023	TTM
Debt FCF	-	-20.25	10.65	268.99	-240.30	61.01	-30.48	-37.38
Debt Equity	-	1.33	3.32	3.47	2.20	4.44	5.89	8.23
MIN
Graham Stability	-	-	-	-8.8%	-180%	-	-	-180%

What is the Debt/FCF?

The Debt/FCF trailing twelve month is -37.38.

What is the trend of Debt/FCF?

The trend of Debt/FCF over the past 5 years is -11.70.

What is the Graham’s Stability?

Graham’s Stability measure stands at -1.78.

Growth

Growth can be dangerous when forecasting, simply projecting the current growth is in general wrong. A company passes through multiple phases, from being young and unprofitable, to the first periods of profitability and high growth, until it arrives at a period of regime with limited growth. Identifying in which phase the company is in may help forecasting.

Earnings growth has not been increasing in the past years.

Years	12-2018	12-2020	12-2022	Trend
Revenue	41%	87%	8.6%	13%
Net Income	-	-	-	-42%
Stockholders Equity	16%	25%	-21%	-4.9%
FCF	-	-	-	-

What is the 5 year Revenue CAGR?

The Revenue CAGR over the past 5 years is +41.12%.

What is the trend of Revenue growth?

The trend of Revenue growth rate over the past 5 years is +13.13%.

What is the 5 year Earnings CAGR?

The Earnings CAGR over the past 5 years is -.

What is the trend of Earnings growth?

The trend of Earnings growth rate over the past 5 years is -42.08%.

What is the 5 year Equity CAGR?

The Equity CAGR over the past 5 years is +16.32%.

What is the trend of Equity growth?

The trend of Equity growth rate over the past 5 years is -4.93%.

What is the 5 year FCF CAGR?

The FCF CAGR over the past 5 years is +44.29%.

What is the trend of FCF growth?

The trend of FCF growth rate over the past 5 years is -.