Ballys, a rapidly expanding entertainment conglomerate, recently unveiled impressive second-quarter financial results. The company generated a substantial $268 million in revenue, exceeding internal projections and demonstrating significant growth compared to the previous year when the global health crisis hampered performance. This achievement is driven by the success of both their brick-and-mortar casinos and their burgeoning digital operations.
Regarding their online presence, recall their intention to acquire Gamesys, a prominent player in the internet gaming sector. Bally’s is so assured in its performance that it won’t require additional stock issuance or access to a dedicated credit facility to complete the transaction. They are collaborating with leading financial institutions to finalize the funding, which will likely involve sophisticated maneuvers within the capital markets. These actions are all part of Bally’s strategy to become a dominant force in the dynamic realm of online entertainment.
The video game retailer intends to secure funding for this transaction through a blend of equity offerings and debt financing, having already secured the necessary credit facilities.
While certain regulatory hurdles and minor details remain, the company aims to finalize the agreement by years end.