Bally’s Corporation

What Bally’s Corporation does

Bally's Corporation (NYSE: BALY) is a US-incorporated, Providence-headquartered global casino-entertainment company that operates an integrated omnichannel gaming business across land-based casino resorts, digital sports betting, online casino (iGaming), and lottery systems. Originally founded in 2004 as Twin River Worldwide Holdings and rebranded under the Bally's name in 2020, the company is effectively controlled by private equity firm Standard General (led by Soo Kim) and reports approximately 11,500 employees, 19-20 casino properties across 11 US states and the UK, 17,700 slot machines, 630 table games, 3,950 hotel rooms, and three multi-billion-dollar development projects underway in Chicago, Las Vegas, and the Bronx (targeted openings 2026, 2027, 2030 respectively).

Bally's revenue model is transaction-based across five streams: land-based gaming win (slots/tables), hotel and hospitality, sports betting handle (Bally Bet Sportsbook, powered by third-party Kambi), iGaming transactional fees (BallyCasino.com, Monopoly Casino NJ, plus international brands such as Jackpotjoy, Botemania, Double Bubble Bingo, Rainbow Riches Casino, and Bally Casino International), and lottery licensing revenue through the IGT-relationship in Rhode Island. The interactive division is structured within Bally's majority stake in Intralot S.A. (formed October 2025 via the combination of Bally's International Interactive with Intralot at €2.7B enterprise value). Bally's also holds a 61% controlling stake in ASX-listed Australian operator Star Entertainment Group and maintains official league partnerships with MLB, NBA, and NHL plus sponsorships of NFL, NHL, and WNBA teams.

Revenue is concentrated and growing rapidly: Q1 2026 quarterly revenue reached $755.7M against full-year 2026 guidance of approximately $3.2B, with the February 2025 acquisition of The Queen Casino & Entertainment ($1.45B + assumed debt) driving 14.7% segment revenue growth. Capital structure is highly leveraged at roughly $4.3B long-term debt, prompting a Moody's downgrade to B3 in 2025 (citing governance concerns and development-project debt loads), a $1.1B JP Morgan-led first lien term loan refinancing in February 2026, and dual sale-leaseback transactions with VICI Properties ($665M, March 2026) and GLPI ($700M Twin River Lincoln, February 2026) to optimize capital. Risks include ongoing AUSTRAC proceedings (up to AU$400M potential penalty against Star), the failed Bally's Chicago subsidiary IPO dynamics, and an extended Evoke takeover offer window through June 2026.

Name

Bally’s Corporation

Legal name

Bally's Corporation

Website

https://ballys.com

Company type

Public

Founded year

2004

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Bally's Corporation (NYSE: BALY) is a global casino-entertainment company operating 19-20 land-based gaming properties across 11 US states and the UK, alongside digital sportsbook and iGaming platforms serving consumers in North America, Europe, and Australia.

Ownership category

akta.pro rank

Product category

Casino & Gaming Entertainment

NAICS

Casinos (except Casino Hotels) (71321), Gambling Industries (7132)

SIC

Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Sportsbooks (Online & Mobile Operators) (MPAEACAA)

akta.pro secondary industries

Online Bingo Casinos (MPAEABAF), Electronic Table Games (ETGs) & Stadium Gaming (MPAEAJAC)

Keywords

• Casino gaming operations
• Online sports betting
• Igaming platforms
• Casino resort hospitality
• Digital gaming services

Headquarters

HQ city

Providence

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Casino Gaming: Revenue from slot machines and table games across physical casino properties. Core revenue driver with 17,700 slot machines and 630 table games generating gaming win.
2. Sports Betting: Bally Bet Sportsbook operations generating handle/wagering revenue. Digital platform processing significant sports betting volume across regulated US markets.
3. iGaming (iCasino): Online casino gaming through Bally Casino and Monopoly Casino NJ platforms. Digital casino game offerings including slots and table games via mobile and web.
4. Hotel and Hospitality: Hotel accommodations, food and beverage, entertainment, and convention services across casino resort properties. 3,950 hotel rooms generating lodging and ancillary revenue.
5. International Interactive: Online casino and bingo operations in UK and international markets through Gamesys Group platforms. Digital gaming including free-to-play offerings.
6. Lottery Solutions: Lottery systems and solutions partnership in Rhode Island through IGT relationship, generating licensing and service revenue.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Bally's Corporation owns and operates an integrated portfolio of 20 land-based casino and resort properties across 11 US states plus the UK, featuring 17,700 slot machines, 630 table games, and 3,950 hotel rooms, complemented by a digital gaming division offering online sports betting (Bally Bet), online casino (BallyCasino.com, MONOPOLY Casino), and free-to-play gaming. The company also holds a majority stake in Intralot S.A. (lottery technology), operates International Interactive gaming brands in the UK and Spain, and owns a majority interest in Australia's Star Entertainment Group.

Product overview

Bally's Corporation operates a diversified gaming and entertainment business with two primary segments: Bally's Interactive (digital products) and Bally's Casinos & Properties (land-based resorts). The Interactive segment spans North America and International markets with products including the Bally Bet Sportsbook (online sports betting), BallyCasino.com (online casino in NJ, PA, RI), MONOPOLY Casino, Bally Play (free-to-play), Bally Sports Live and Stadium (live sports streaming), Telescope (audience engagement), SportCaller (free-to-play solutions), and Jackpotjoy/Botemania/Double Bubble Bingo/Rainbow Riches Casino/Bally Casino (International brands). The land-based segment includes casino resorts such as Hard Rock Hotel & Casino Biloxi, Bally's Atlantic City, Horseshoe St. Louis, The Queen Casino & Bing, Saratoga Casino, Tropicana Chicago, and major development projects in Chicago, Las Vegas, and the Bronx. The company also holds a majority stake in The Star Entertainment Group in Australia.

Differentiator

Problem solved

Functional benefit

Brands

• Hard Rock Hotel & Casino Biloxi: Gaming and resort property operating under the Hard Rock brand in Biloxi, Mississippi.
• Ballyverse
• DraftKings at Casino Queen

Products and services

• Bally's Casinos & Resorts

Named customers1 record

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• KambicoreTechnology or IntegrationSportsbook-as-a-service infrastructure provider powering Bally Bet Sportsbook digital betting operations
• IGTcoreTechnology or IntegrationLottery solutions partner operating in Rhode Island providing lottery systems and technology services
• Star Entertainment GroupcoreStrategic or Co-development PartnerAustralian casino and entertainment operator in which Bally's acquired 56.7%/61% stake as strategic investment
• JLLminorImplementation/ SI/ Consulting PartnerRetail and dining sourcing for Las Vegas casino development projects providing consulting and advisory services
• City Colleges of ChicagominorStrategic or Co-development PartnerDealer training school partnership for Chicago casino development providing workforce training and employment pipeline
• IntralotminorStrategic or Co-development PartnerInternational Interactive business transaction involving restructuring of digital gaming operations

Scale indicators8 records

Recent moves10 records

Expansion highlights7 records

Direct peers

• DraftKings: DraftKings is the largest pure-play U.S. online sportsbook and iGaming operator, the primary competitor to Bally Bet; it also partners with Bally's subsidiary Casino Queen for the 'DraftKings at Casino Queen' product, evidencing head-to-head overlap.
• Red Rock Resorts: Red Rock operates Las Vegas Locals casinos under the Station Casinos brand, directly comparable to Bally's Lake Tahoe and Las Vegas operations, with a similar regional-Vegas-casino business mix.
• Flutter Entertainment: Flutter (FanDuel parent) is the global online sportsbook + iGaming leader and directly competes with Bally's International Interactive (Jackpotjoy, Rainbow Riches) in the UK and with FanDuel vs Bally Bet in U.S. mobile betting.
• Churchill Downs: Churchill Downs operates a U.S. regional casino portfolio (including HRMs) that competes with Bally's in Kentucky, Louisiana, and other states, while also operating the Derby City-style racing and historical-purses business.
• Boyd Gaming: Boyd is a U.S. regional casino operator with comparable property footprint across Nevada, Louisiana, Indiana, Illinois and elsewhere; Bally's recently agreed to acquire Boyd's Sam's Town Shreveport asset, confirming the companies operate in overlapping regional markets.
• Caesars Entertainment: Caesars is the most directly comparable omnichannel casino-entertainment operator with both a large U.S. regional casino footprint and the Caesars Sportsbook digital business, competing head-to-head with Bally's for both physical and digital gaming wallet share.
• MGM Resorts International: MGM operates a comparable portfolio of Las Vegas and regional casino resorts and owns a 50% stake in BetMGM (digital sportsbook + iGaming JV with Entain), making it a head-to-head omnichannel competitor to Bally's across land-based, sportsbook, and iGaming.
• Penn Entertainment: Penn operates a similarly scaled U.S. regional casino portfolio of ~40+ properties and runs the ESPN BET-branded sportsbook under an exclusive media tie-in — directly comparable to Bally's regional casino-plus-exclusive-content digital strategy.

Others

• International Game Technology (IGT): IGT is Bally's lottery systems partner in Rhode Island and an equipment/gaming-content supplier across the industry; while not a direct casino competitor, it is materially relevant as an ecosystem participant and adjacent technology partner.

Broad incumbents

• Wynn Resorts: Wynn operates luxury integrated casino resorts (Las Vegas, Macau, UAE) — overlapping with Bally's on high-end casino and hospitality but not directly competing in regional casino or U.S. digital sportsbook, where Bally's is focused.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/ballys
• YouTubeyoutube.com/channel/ballys
• Facebookfacebook.com/ballyscorporation
• LinkedInlinkedin.com/company/ballys-corporation
• Instagraminstagram.com/ballyscorp

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bally’s Corporation