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Bally's (BALY) Boosts iGaming Presence With Stakelogic Tie-up
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Bally's Corporation (BALY - Free Report) recently announced its collaboration with Stakelogic to launch Bally's live casino in North America. The news follows on the heels of the Rhode Island iGaming bill approval (on Jun 22, 2023), granting permission to Bally's for iGaming offerings in the region.
The multi-year agreement involves the integration of the latter’s cutting-edge software, studio technologies and operational expertise. The company stated plans to launch online live casino games like Blackjack, Roulette and Baccarat in Rhode Island, beginning in April 2024.
Management is optimistic about the partnership and anticipates the initiative to drive its online live casino operations in Rhode Island, going forward.
Emphasis on Strategic Partnerships
Bally's focuses on growing its omni-channel presence of Online Sports Betting (OSB) and iGaming offerings to drive growth. On May 2, 2023, the company announced partnership agreements with Kambi and White Hat Gaming, to boost its North America sports betting platform. The agreements pave a path for solid technological integration and the execution of speedy launches.
Per the agreement, Kambi will offer its portfolio of omni-channel products, trading capabilities, content solutions and liability management. White Hat will provide its PAM Solution, including custom cashier, RGS integrations and a portable wallet.
Bally's aims to create deal synergies by integrating the technologies with its cutting-edge analytics and marketing technology. By switching to a variable cost model based on usage, the initiative will dramatically lower the fixed expenses related to powering Bally Bet's OSB systems.
By 2023-end, Bally's anticipates these partnerships to provide omni-channel support, enabling Bally Bet's platform throughout seven states and at four retail gaming locations. The company intends to use these alliances globally as they examine launching OSB in the U.K. and other parts of Europe.
Image Source: Zacks Investment Research
So far this year, shares of Bally's have declined 18.1% against the industry’s growth of 18.7%.
Trip.com Group Limited (TCOM - Free Report) flaunts a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 147.9%, on average. Shares of TCOM have increased 45.8% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Trip.com Group’s 2023 sales and earnings per share (EPS) suggest an increase of 101.6% and 531%, respectively, from the year-ago period’s levels.
Bluegreen Vacations Holding Corporation flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 24.7%, on average. Shares of BVH have increased 61.2% in the past year.
The Zacks Consensus Estimate for BVH’s 2023 sales and EPS indicates a rise of 3.6% and 17.6%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) carries a Zacks Rank #2. OSW has a trailing four-quarter earnings surprise of 65.8%, on average. Shares of OSW have increased 73.2% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates a rise of 33.9% and 89.3%, respectively, from the year-ago period’s levels.
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Bally's (BALY) Boosts iGaming Presence With Stakelogic Tie-up
Bally's Corporation (BALY - Free Report) recently announced its collaboration with Stakelogic to launch Bally's live casino in North America. The news follows on the heels of the Rhode Island iGaming bill approval (on Jun 22, 2023), granting permission to Bally's for iGaming offerings in the region.
The multi-year agreement involves the integration of the latter’s cutting-edge software, studio technologies and operational expertise. The company stated plans to launch online live casino games like Blackjack, Roulette and Baccarat in Rhode Island, beginning in April 2024.
Management is optimistic about the partnership and anticipates the initiative to drive its online live casino operations in Rhode Island, going forward.
Emphasis on Strategic Partnerships
Bally's focuses on growing its omni-channel presence of Online Sports Betting (OSB) and iGaming offerings to drive growth. On May 2, 2023, the company announced partnership agreements with Kambi and White Hat Gaming, to boost its North America sports betting platform. The agreements pave a path for solid technological integration and the execution of speedy launches.
Per the agreement, Kambi will offer its portfolio of omni-channel products, trading capabilities, content solutions and liability management. White Hat will provide its PAM Solution, including custom cashier, RGS integrations and a portable wallet.
Bally's aims to create deal synergies by integrating the technologies with its cutting-edge analytics and marketing technology. By switching to a variable cost model based on usage, the initiative will dramatically lower the fixed expenses related to powering Bally Bet's OSB systems.
By 2023-end, Bally's anticipates these partnerships to provide omni-channel support, enabling Bally Bet's platform throughout seven states and at four retail gaming locations. The company intends to use these alliances globally as they examine launching OSB in the U.K. and other parts of Europe.
Image Source: Zacks Investment Research
So far this year, shares of Bally's have declined 18.1% against the industry’s growth of 18.7%.
Zacks Rank & Other Top Picks
Bally's currently has a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the Zacks Consumer Discretionary sector are as follows:
Trip.com Group Limited (TCOM - Free Report) flaunts a Zacks Rank #1 (Strong Buy). The company has a trailing four-quarter earnings surprise of 147.9%, on average. Shares of TCOM have increased 45.8% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Trip.com Group’s 2023 sales and earnings per share (EPS) suggest an increase of 101.6% and 531%, respectively, from the year-ago period’s levels.
Bluegreen Vacations Holding Corporation flaunts a Zacks Rank #1. The company has a trailing four-quarter earnings surprise of 24.7%, on average. Shares of BVH have increased 61.2% in the past year.
The Zacks Consensus Estimate for BVH’s 2023 sales and EPS indicates a rise of 3.6% and 17.6%, respectively, from the year-ago period’s levels.
OneSpaWorld Holdings Limited (OSW - Free Report) carries a Zacks Rank #2. OSW has a trailing four-quarter earnings surprise of 65.8%, on average. Shares of OSW have increased 73.2% in the past year.
The Zacks Consensus Estimate for OSW’s 2023 sales and EPS indicates a rise of 33.9% and 89.3%, respectively, from the year-ago period’s levels.