/PRNewswire/ Caesars Entertainment, Inc. (NASDAQ: CZR) ("Caesars") today announced the closing of the sale of Tropicana Evansville to Gaming & Leisure.
Ownership change of Tropicana Evansville becomes official
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EVANSVILLE, Ind. The previously announced ownership change of Tropicana Evansville was formally approved Thursday by the Indiana Gaming Commission, and the gaming floor was closed Thursday morning until documents became official.
The casino was supposed to reopen in late morning, but the process dragged a bit past noon. John Chaszar, Tropicana Evansville, general manager, said the property reopened about 12:45 p.m.
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PROVIDENCE, R.I., June 1, 2021 /PRNewswire/ Bally s Corporation (NYSE: BALY), a leading U.S. omnichannel provider of land-based gaming and interactive entertainment, today announced that it has completed its previously announced acquisition of Bet.Works a U.S. based, sports betting platform provider to operators in New Jersey, Iowa, Indiana and Colorado. The transaction, which includes Bet.Works proprietary technology stack and turnkey solutions comprised of marketing, operations, customer service, risk management and compliance, makes Bally s the premier, full-service, vertically integrated sports betting and iGaming company in the U.S. with physical casinos, online gaming solutions and a B2B2C business model united under a single, preeminent brand. The total purchase price of the acquisition was $125 million, half of which was paid in Bally s common stock, which Bet.Works shareholders agreed to hold for at least one year.
Bally s Corporation Announces First Quarter 2021 Results
Achieves Record Quarterly EBITDA
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PROVIDENCE, R.I., May 10, 2021 /PRNewswire/ Bally s Corporation (NYSE: BALY) (the Company or Bally s ), today reported financial results for the first quarter ended March 31, 2021.
First Quarter 2021 and Recent Highlights
Income from operations of $29.5 million represents strongest quarter since second quarter 2019
Adjusted EBITDA of $52.5 million is up $30.4 million, or 137.9%, from the same period in 2020
Adjusted EBITDA margins of 27.29% represent an increase of 708 bps year-over-year
Announced transformational agreement to acquire Gamesys Group plc to further omni-channel strategy
Strengthened consumer confidence, limited entertainment options and disciplined operating strategy contributed to record results at many properties
(1) FFO is net income, excluding (gains) or losses from sales of property and real estate depreciation as defined by NAREIT.
(2) AFFO is FFO, excluding stock based compensation expense, the amortization of debt issuance costs, bond premiums and original issuance discounts, other depreciation, amortization of land rights, straight-line rent adjustments and losses on debt extinguishment, reduced by capital maintenance expenditures.
(3) Adjusted EBITDA is net income, excluding interest, taxes on income, depreciation, (gains) or losses from sales of property, stock based compensation expense, straight-line rent adjustments, amortization of land rights, and losses on debt extinguishment.
Peter Carlino, Chairman and Chief Executive Officer of GLPI, commented, Our record first quarter financial results highlight our long-term focus on aligning with the industry s top regional gaming operators, expanding and diversifying our portfolio of r