\u201cBally’s can conservatively achieve mid-single-digit online market share despite the highly fragmented iGaming and sports space,\u201d <\/strong>said Bender.<\/p>\nThe analyst says the company’s Bet. Works purchase gives it a \u201cmargin advantage over peers,\u201d said the analyst. Bally’s purchased the sports wagering technology company last November for $125 million in cash and equity.<\/p>\n
Upbeat Outlook<\/h2>\n
The Macquarie analyst estimates that Pennsylvania alone is worth $11 to Bally’s share price, while the operator’s overall online and sports wagering business is worth $35. That indicates investors aren’t paying much for any growth the company generates from its land-based casinos.<\/p>\n
Bender’s $61 12-month price forecast implies upside of more than 23 percent from Bally’s Jan. 11 close and is well above the Wall Street consensus of $49.10<\/strong>.<\/p>\nThe analyst says the company will spend much of this year integrating recently acquired assets and finalizing pending deals but adds pre-pandemic growth rates are achievable in 2022.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bally’s Corp. (NYSE:BALY) morphed from a nearly anonymous regional gaming outfit thanks to an aggressive deal-making last year, making it one of the fastest-growing companies in the space. Wall Street is betting that trend will continue in 2021. In midday trading Tuesday, Bally’s stock is trading higher after Macquarie analyst Jordan Bender reiterated an \u201coutperform\u201d […]<\/p>\n","protected":false},"author":46,"featured_media":161005,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
Bally's Stock Has Multiple Catalysts, Pennsylvania Upside<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n