Bally’s Stock Falls Amid Debt Concerns
Shares of Bally’s stock plunged more than 26% following disclosures in the company second quarter financial filings that raised substantial doubt about its ability to maintain debt covenants over the coming year. The market selloff dropped equity prices down to $10.31, extending year to date declin…
Shares of Bally’s stock plunged more than 26% following disclosures in the company second quarter financial filings that raised substantial doubt about its ability to maintain debt covenants over the coming year. The market selloff dropped equity prices down to $10.31, extending year to date declines to 38% as investors focused on corporate leverage over positive revenue growth. In documentation submitted to federal securities regulators, Bally Corp management acknowledged that current forecasts indicate the operator may fail to satisfy liquidity maintenance requirements and consolidated net leverage ratio covenants linked to its revolving credit facility. The company ended the quarter with... The post Bally’s Stock Falls Amid Debt Concerns appeared first on This Week in Gambling.