LAS VEGAS (KLAS) — A 12 months after closing the Tropicana in Las Vegas, Bally’s is a unique firm, merged with The Queen On line casino & Leisure Inc. and underneath the umbrella of Commonplace Basic, run by Bally’s Chairman Soo Kim.
And for the second time in 2025, Bally’s has skipped its earnings name, which usually offers traders a chance to ask questions concerning the firm’s efficiency and its enterprise focus. No rationalization was offered.
In March, the earnings name was canceled after the corporate’s inventory plunged. A name to accompany at the moment’s earnings launch was by no means scheduled in any respect.
On Might 1, a report within the Chicago Solar-Occasions indicated that Illinois gaming regulators had stopped building on Bally’s $1.7 billion everlasting on line casino in Chicago after questions got here up about an organization offering trash providers.
D&P Building Co., Inc., a waste hauling firm that was offering dumpsters for the Bally’s undertaking, was managed 20 years in the past by brothers John DiFronzo and Peter DiFronzo, in accordance with the FBI. The reputed leaders of the Chicago mob died in recent times, in accordance with the Solar-Occasions.
Bally’s had not disclosed its use of the corporate to gaming regulators.
Whereas it is unknown if the Chicago information protection performed a task within the determination to not enable traders’ questions, the article posed an embarrassing state of affairs for Bally’s.
And at the moment, the Prepare dinner County File reported that Bally’s had prevented one other controversy by abandoning an effort that may have blocked white folks from investing within the proposed new Chicago on line casino undertaking. The IPO tied to the undertaking was an try to “restrict the investment opportunity to black and other racial minority investor,” in accordance with the information report.
MARCH 5, 2025: Bally’s pulls plug on earnings name as inventory plunges 24%; income down in fourth quarter
Bally’s issued a information launch summarizing its financials, exhibiting income of $589.2 million in comparison with $618.5 million for the primary quarter of 2024, a 4.7% lower.
For its resort-casinos, Bally’s reported $351.2 million in income, up 2.6% 12 months over 12 months.
The corporate additionally revealed it had diminished its dedication to Star Leisure, an Australian firm that Bally’s invested in final month. On the time, the funding was offered as a $300 million settlement, however that has dropped to $200 million after Star’s largest stockholder upped its stake. Bally’s will personal about 38% of Star.
The Bally’s portfolio has modified dramatically — and away from Las Vegas, the place it nonetheless owns rights to the land that is adjoining to the Tropicana web site, amounting to about 27 acres. The opposite 9 acres on the nook of Tropicana Avenue and Las Vegas Boulevard South would be the web site of the Las Vegas A’s stadium.
Bally’s has not revealed any updates on its beforehand introduced plans for the land.
Robeson Reeves, chief government officer for Bally’s, mentioned the corporate is positioned for “compelling long-term growth” with the addition of 4 regional on line casino properties. Bally’s has rather a lot tied up in its dedication to a Chicago on line casino, with a short lived operation already in place and figuring out prospects for the long run.
