{"id":296381,"date":"2023-10-30T21:50:57","date_gmt":"2023-10-31T02:50:57","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=296381"},"modified":"2023-10-31T11:13:32","modified_gmt":"2023-10-31T16:13:32","slug":"ballys-stock-due-for-rebound-but-it-might-not-last-long","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/ballys-stock-due-for-rebound-but-it-might-not-last-long\/","title":{"rendered":"Bally\u2019s Risk-Reward Looks Interesting After Slump"},"content":{"rendered":"

Following a lengthy slump in which the stock has shed nearly a third of its value over the past month and 53.72% year to date, shares of Bally\u2019s (NYSE: BALY) could be primed for a relief rally.<\/p>\n

\"Bally's
Bally’s Casino & Hotel in Shreveport, La. An analyst says the stock could rebound. But the longer-term outlook is clouded. (Image: Shreveport-Bossier)<\/figcaption><\/figure>\n

That\u2019s the take of Stifel analyst Jeffrey Stantial, who issued a new report on the regional casino operator earlier Monday ahead of the company\u2019s third-quarter earnings report on Wednesday, November 1. He reiterated a \u201chold\u201d rating on Bally\u2019s while trimming his price target to $10 from $16. Even with that reduction, the new forecast implies upside of 11.4% from Monday\u2019s closing price of $8.87.<\/p>\n

Shares appear poised for a potential relief rally following significant underperformance, with potential positive catalysts including bottoming North American Interactive losses, better than feared performance in U.K., cost-cutting optionality & relative margin outperformance in Casinos, and ramping cash flows from the Chicago temporary (casino),\u201d<\/strong> wrote Stantial.<\/p><\/blockquote>\n

Rhode Island-based Bally\u2019s operates 17 gaming venues<\/a> in 10 states. Those include the operator\u2019s namesake property on the Atlantic City Boardwalk and the Tropicana on the Las Vegas Strip.<\/p>\n

Medium-Term Outlook Lukewarm for Bally\u2019s<\/h2>\n

While Bally\u2019s could meet or even beat Wall Street\u2019s earnings and revenue expectations when it delivers third-quarter results, the medium-term outlook for Bally\u2019s brick-and-mortar (B&M) casinos could be mixed.<\/p>\n

Analysts and investors are already fretting that while Las Vegas continues to thrive, some regional casino markets are experiencing pullbacks as consumers reign in discretionary spending,<\/a> as inflation and interest rates remain elevated.<\/strong><\/p>\n

While the Consumer Price Index (CPI) is declining, it\u2019s still at more than double the levels seen at the end of 2020. Relevant to the gaming industry is that inflation has acted as a tax, by some estimates trimming U.S. workers\u2019 earnings for more than two years.<\/p>\n

\u201cLonger-term, we remain cautious, given elevated net leverage & planned project capex, amidst an uncertain outlook for the consumer & seemingly worsening inflationary pressures, though highlighting significant potential upside should macroeconomic headwinds prove better than feared,\u201d added Stantial.<\/p>\n

Potential Catalysts for Bally\u2019s Stock<\/h2>\n

With the specter of a \u201chigher for longer\u201d interest rate environment uncomfortably solid and a recession still possible, the near- to medium-term outlook for regional casino equities, including Bally\u2019s, is muddled. However, Bally\u2019s could offer investors some stock-specific catalysts, including upbeat commentary on its temporary casino in Chicago, which recently came online.<\/p>\n

Regarding the Chicago opening, IL state reported data indicates the property generated ~$7 million of GGR for the abridged September month – anecdotally below investors’ expectations, though likely a function of limited marketing prior to the hard launch,\u201d<\/strong> observed Stantial. \u201cWe expect management to provide commentary on results following the 10\/2 hard launch, which should be a better measuring stick for assessing feasibility of BALY’s prior $50 million run-rate.\u201d<\/strong><\/p><\/blockquote>\n

Other possible sparks, though more speculative, include divestments of lagging assets<\/a> and more clarity on the operator\u2019s efforts to procure a New York City casino license.<\/p>\n","protected":false},"excerpt":{"rendered":"

Following a lengthy slump in which the stock has shed nearly a third of its value over the past month and 53.72% year to date, shares of Bally\u2019s (NYSE: BALY) could be primed for a relief rally. That\u2019s the take of Stifel analyst Jeffrey Stantial, who issued a new report on the regional casino operator […]<\/p>\n","protected":false},"author":46,"featured_media":259464,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810,86438],"tags":[81903,81898,86457],"acf":[],"yoast_head":"\nBally\u2019s Stock Due For Rebound, But It Might Not Last Long<\/title>\n<meta name=\"description\" content=\"Bally\u2019s shares could be ready for near-term relief rally.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/ballys-stock-due-for-rebound-but-it-might-not-last-long\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bally\u2019s Stock Due For Rebound, But It Might Not Last Long\" \/>\n<meta property=\"og:description\" content=\"Bally\u2019s shares could be ready for near-term relief rally.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/ballys-stock-due-for-rebound-but-it-might-not-last-long\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-31T02:50:57+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-31T16:13:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/bally.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"718\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/ballys-stock-due-for-rebound-but-it-might-not-last-long\/\",\"url\":\"https:\/\/www.casino.org\/news\/ballys-stock-due-for-rebound-but-it-might-not-last-long\/\",\"name\":\"Bally\u2019s Stock Due For Rebound, But It Might Not Last Long\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/ballys-stock-due-for-rebound-but-it-might-not-last-long\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/ballys-stock-due-for-rebound-but-it-might-not-last-long\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/bally.jpg\",\"datePublished\":\"2023-10-31T02:50:57+00:00\",\"dateModified\":\"2023-10-31T16:13:32+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Bally\u2019s shares could be ready for near-term relief rally.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/ballys-stock-due-for-rebound-but-it-might-not-last-long\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/ballys-stock-due-for-rebound-but-it-might-not-last-long\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/ballys-stock-due-for-rebound-but-it-might-not-last-long\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/bally.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/02\/bally.jpg\",\"width\":2250,\"height\":1578,\"caption\":\"Bally's Casino & Hotel in Shreveport, La. 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