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  • Bally’s Corporation (BALY): Merger Agreement Triggers Stock Market Rally

    Bally’s Corporation (BALY): Merger Agreement Triggers Stock Market Rally

    The announcement of Bally’s Corporation (NYSE: BALY) entering a merger agreement has significantly influenced its share price on the US stock charts. As of the latest current-market check, BALY stock has risen by 24.41%, reaching $16.82.

    Bally’s Merger Agreement

    Bally’s Corporation (BALY) said today that it and Standard General L.P., its biggest common investor, have signed a formal merger agreement. Bally’s outstanding shares will be acquired by Standard General at a price of $18.25 per share, as per the terms of this agreement.

    Stockholders who choose to retain their investment will continue as shareholders of the Combined Company. This transaction values Bally’s at approximately $4.6 billion in enterprise value, and the Combined Company will remain a publicly traded entity.

    Strategic Expansion and Future Prospects

    As part of the merger, Bally’s will combine with The Queen Casino & Entertainment Inc. (QC&E), a regional casino operator predominantly owned by funds managed by Standard General. At two of its four locations, QC&E is presently working on large-scale renovation projects that are anticipated to be finished by 2025 and will significantly boost organic growth.

    Bally’s Casino & Resorts will become a broader business as a result of this combination, with 19 gaming, entertainment, and hospitality venues spread over 11 states in the US. A number of exciting initiatives will also improve Bally’s development pipeline as a result of the combination.

    Bally’s Corporation has positioned itself strategically to maintain growth in all of its business divisions, which include its sectors for casinos and resorts, North America Interactive, and International Interactive. Additionally, the corporation is making headway in the construction of a permanent casino resort in Chicago, for which it has just unveiled a detailed financing strategy.

    The integration of four additional properties through this merger will further diversify Bally’s Corporation’s geographical and market reach. With QC&E’s development projects either recently completed or well underway, Bally’s anticipates additional revenue and EBITDAR growth, along with value accretion, as these projects are finalized by 2025.

  • The 3 Best Gambling Stocks to Buy Anytime Soon

    The 3 Best Gambling Stocks to Buy Anytime Soon

    The gambling stocks that will be the future winners.

    The gambling industry after a fearful 2020 is expected to get back this year. But this time, it will be digital—with gambling moving to online mode. In 2020, a major step was taken to legalize online gambling. This is a big move because we will see more industries going to a digital network—in the future.

    The pandemic has fired businesses to turn their operations online. Speaking of gambling, it’s been front and center on many trader’s radars. Especially, the sports betting stocks will be at the forefront this year.

    Moreover, the gambling resorts are expected to resume at an accelerated pace by the end of 2021. People would want to spend more time away from home once things normalize. And, the gambling resorts attract thousands of visitors.

    So, we have some notable stocks with high upside potential as we head forward in this year. Let’s have a look at the three best gambling stocks for investment in 2021.

    DraftKings (DKNG)

    The online sports betting platform, DraftKings (DKNG) is good to go with Google’s latest policy. According to Reuters, the internet giant’s policy changes will allow companies to place gambling apps—including the sports betting apps—on the Google Play store. 

    DraftKings has highlighted that it will immediately launch its app on Google Play as soon as Google implements the new rule. This will be a big achievement for the company as the online ecosystem through Google’s policy change will bring more audience.

    Furthermore, a financial analysis firm Bernstein has given DKNG stock a price target of $71, which is almost 34% higher compared to the stock’s closing price on Thursday. Bernstein’s research highlights the future of DraftKings and the online sports betting market in the US—in general. The digital sports betting industry is expected to reach $25 billion by 2025 and $30 million in the next decade.

    So, DraftKings (DKNG) is one of the prominent stocks from this industry to bet on.

    Bally’s Corp. (BALY)

    Bally’s Corp. (BALY) shares have steadily powered up since the massive drop in March 2020. Especially, the stock made a big move in mid-Nov after which it has sustained the bullish trend.

    Bally is one of those firms that is poised to grow with the full resuming of gambling activities. The company was quick to act and acquired several properties at reasonable prices—during the pandemic time. This was a big win for the company as it got hands on the Bally’s casino brand.

    The company is taking this period to expand its portfolio. In an announcement on Jan. 25, the company reported that it is signing a merger agreement to acquire Monkey Knife Fight (MKF). Monkey Knife is a fast-growing gaming platform and also the third-biggest daily fantasy sports in North America.

    So, Bally’s Corp. (BALY) is ready to pull all strings in its favor and attract more visitors to its platform through new channels.

    Golden Nugget (GNOG)

    Golden Nugget (GNOG) is an online gaming company that has seen growth in the past few months. GNOG is the second online gaming casino that has gone public after DraftKings.

    Analysts see Golden shares in the high bullish territory in the near future. They believe that the GNOG shares are at a reasonable price compared to other online gambling giants—the likes of DraftKings. Moreover, considering the growing marketplace for the online gambling industry, Golden Nugget is a potential bet that would be worth investing in.

    The company has yet to make an impact in the evolving online gambling industry. Recently, the company received authorization to begin offering its Online Casino and Sportsbook. The approval came from the Michigan Gaming Control Board (MGCB). Golden Nugget’s online casino and sportsbook will be able to users at GoldenNuggetCasino.com and through its iOS and Android apps.

    So, Golden Nugget (GNOG) is another gambling stock with massive potential in the market.