New York City Opens Its First Full-Scale Casino
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3 days ago
0mins
Should l Buy BALY?
Source: CNBC
- Casino Opening: Resorts World, New York City's first full-scale casino, officially opened on April 28, 2026, marking a significant milestone in the state's gambling expansion over the past decade, expected to attract numerous visitors and boost the local economy.
- Job Creation: The project has already created over 1,200 new jobs, with an additional 500 anticipated by summer, demonstrating the casino's positive impact on the local job market while also providing training opportunities for residents.
- Tax Contributions: Resorts World commits to paying 63% on slot revenue and 30% on table game revenue as state taxes, with projections indicating it could generate $7 billion in gaming tax revenue for New York over the next decade, enhancing state fiscal resources.
- Market Competitive Advantage: As the only casino in New York City, Resorts World has gained a competitive edge, expected to lead the future development of the entertainment and gaming market, while also facing community concerns regarding potential increases in crime and traffic.
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Analyst Views on BALY
Wall Street analysts forecast BALY stock price to rise
3 Analyst Rating
0 Buy
2 Hold
1 Sell
Moderate Sell
Current: 13.320
Low
11.00
Averages
16.33
High
20.00
Current: 13.320
Low
11.00
Averages
16.33
High
20.00
About BALY
Bally's Corporation is a global casino-entertainment company with an omnichannel presence. The Company’s segment includes Casinos & Resorts and North America Interactive. It owns and operates approximately 19 casinos across 11 US states and one casino in Newcastle, UK, along with a golf course in New York and a horse racetrack in Colorado. It also owns Bally Bet, a sports betting and iGaming platform, licensed in 13 jurisdictions in North America. Its casino operations include approximately 17,700 slot machines, 630 table games, and 3,950 hotel rooms. Its Casinos & Resorts include Bally's Atlantic City, Bally’s Dover, Bally’s Tiverton and others. The North America Interactive segment includes a portfolio of sports betting, iGaming, and free-to-play gaming brands. The International Interactive segment includes the Company’s interactive European gaming operations, the Company’s global licensing operations, as well as one casino property, Bally’s Newcastle, in the United Kingdom.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Bally's Chicago Riverfront Project Topping-Off Ceremony
- Investment Scale: Bally's Chicago's riverfront destination project has a total investment of $1.7 billion and is expected to create approximately 3,000 permanent jobs, significantly boosting Chicago's economic recovery and enhancing the local job market.
- Construction Milestone: The topping-off ceremony at 560 W. Grand Ave. marks a key structural milestone, with over 1,000 workers involved in the project to date, reflecting Bally's investment in Chicago's labor force and commitment to the local community.
- Project Features Showcase: Newly released renderings highlight key elements of the casino's interior design and guest experience, including 3,400 slot machines, 173 table games, and a 500-room hotel, aimed at attracting more visitors and enhancing regional appeal.
- Future Development Vision: The project will reconnect River West and Near West Side to the Chicago River, improving public access and activating riverfront spaces, showcasing Bally's strategic commitment to creating a unique destination.
See More
Bally's Chicago Riverfront Project Topping-Off Ceremony
- Project Investment Scale: Bally's Chicago's permanent casino project at 560 W. Grand Ave. involves a $1.7 billion investment, expected to create approximately 3,000 permanent jobs, significantly boosting Chicago's economic recovery.
- Construction Milestone: The topping-off ceremony marked the installation of the final structural beam, representing a key milestone in the project's construction and showcasing the collaboration with local unions and community partners.
- Community Engagement and Workforce Investment: Over 1,000 tradespeople have worked on the project to date, reflecting Bally's commitment to investing in Chicago's labor force, enhancing local economic vitality and job opportunities.
- Future Development Vision: This project is part of a 30-acre redevelopment of the former Chicago Tribune Freedom Center site, aimed at improving public access and activating the riverfront area, thereby enhancing Chicago's urban landscape and quality of life for residents.
See More
New York City Opens Its First Full-Scale Casino
- Casino Opening: Resorts World, New York City's first full-scale casino, officially opened on April 28, 2026, marking a significant milestone in the state's gambling expansion over the past decade, expected to attract numerous visitors and boost the local economy.
- Job Creation: The project has already created over 1,200 new jobs, with an additional 500 anticipated by summer, demonstrating the casino's positive impact on the local job market while also providing training opportunities for residents.
- Tax Contributions: Resorts World commits to paying 63% on slot revenue and 30% on table game revenue as state taxes, with projections indicating it could generate $7 billion in gaming tax revenue for New York over the next decade, enhancing state fiscal resources.
- Market Competitive Advantage: As the only casino in New York City, Resorts World has gained a competitive edge, expected to lead the future development of the entertainment and gaming market, while also facing community concerns regarding potential increases in crime and traffic.
See More
Evoke in Talks with Bally's Intralot for Takeover Proposal
- Acquisition Proposal Confirmation: Evoke (EVOK.L) has confirmed discussions with Greek lottery and gaming firm Bally's Intralot (BYLOTr.AT) regarding a takeover proposal at 50 pence per share, valuing the company at £225.3 million ($303.88 million), which could provide Evoke with much-needed capital and improve its financial standing.
- Tax Impact on Industry: The company has been significantly affected by the UK government's tax hikes on the betting industry, leading Evoke to announce the closure of several betting shops starting in May, indicating an urgent need to review strategic options, including a potential sale.
- Expected Deal Structure: The proposed deal is anticipated to be an all-share combination with a partial cash alternative, a flexible structure that may attract more investor participation and enhance Evoke's competitive position in the market.
- Bally's Intralot Background: Bally's Intralot operates in 40 regulated jurisdictions worldwide and completed the acquisition of Bally's International Interactive business last year, making U.S.-based Bally's Corporation (BALY.N) its majority shareholder, demonstrating its commitment to market expansion and growth.
See More
Consumer Sentiment Plummets, Impacting Stock Market
- Consumer Confidence Drop: The University of Michigan's survey revealed a March consumer sentiment index of 55.3, the lowest this year, primarily driven by financial concerns stemming from the Iran war, particularly among middle and higher-income households, which may lead to reduced consumer spending and impact corporate earnings and economic growth.
- Rising Inflation Expectations: Consumers now anticipate an average inflation rate of 3.8% over the next 12 months, indicating heightened concerns about the economic outlook, which could prompt more cautious spending behavior and exacerbate the risk of economic slowdown.
- Market Reaction: Stocks such as Opendoor, PENN Entertainment, and Bally's experienced significant declines, with Opendoor down 3.8%, PENN down 5.7%, and Bally's down 6.2%, reflecting the market's sensitivity to negative news and potentially providing investors with opportunities to buy quality stocks at lower prices.
- Bally's Stock Volatility: Bally's shares have seen 61 moves greater than 5% in the past year; despite today's drop, the market perceives the news as meaningful but not fundamentally altering its view of the business, especially following its partnership with Intralot to launch new lottery brands, which may support future growth.
See More
BALLY'S CORP: TRUIST SECURITIES LOWERS TARGET PRICE FROM $18 TO $13
Company Update: Bally's Corporation has announced a significant reduction in its target price for Truis Securities.
New Target Price: The target price has been cut from $18 to $13, indicating a notable decrease in expected valuation.
See More
Bally's Chicago Riverfront Project Topping-Off Ceremony
- Investment Scale: Bally's Chicago's riverfront destination project has a total investment of $1.7 billion and is expected to create approximately 3,000 permanent jobs, significantly boosting Chicago's economic recovery and enhancing the local job market.
- Construction Milestone: The topping-off ceremony at 560 W. Grand Ave. marks a key structural milestone, with over 1,000 workers involved in the project to date, reflecting Bally's investment in Chicago's labor force and commitment to the local community.
- Project Features Showcase: Newly released renderings highlight key elements of the casino's interior design and guest experience, including 3,400 slot machines, 173 table games, and a 500-room hotel, aimed at attracting more visitors and enhancing regional appeal.
- Future Development Vision: The project will reconnect River West and Near West Side to the Chicago River, improving public access and activating riverfront spaces, showcasing Bally's strategic commitment to creating a unique destination.
See More
Bally's Chicago Riverfront Project Topping-Off Ceremony
- Project Investment Scale: Bally's Chicago's permanent casino project at 560 W. Grand Ave. involves a $1.7 billion investment, expected to create approximately 3,000 permanent jobs, significantly boosting Chicago's economic recovery.
- Construction Milestone: The topping-off ceremony marked the installation of the final structural beam, representing a key milestone in the project's construction and showcasing the collaboration with local unions and community partners.
- Community Engagement and Workforce Investment: Over 1,000 tradespeople have worked on the project to date, reflecting Bally's commitment to investing in Chicago's labor force, enhancing local economic vitality and job opportunities.
- Future Development Vision: This project is part of a 30-acre redevelopment of the former Chicago Tribune Freedom Center site, aimed at improving public access and activating the riverfront area, thereby enhancing Chicago's urban landscape and quality of life for residents.
See More
New York City Opens Its First Full-Scale Casino
- Casino Opening: Resorts World, New York City's first full-scale casino, officially opened on April 28, 2026, marking a significant milestone in the state's gambling expansion over the past decade, expected to attract numerous visitors and boost the local economy.
- Job Creation: The project has already created over 1,200 new jobs, with an additional 500 anticipated by summer, demonstrating the casino's positive impact on the local job market while also providing training opportunities for residents.
- Tax Contributions: Resorts World commits to paying 63% on slot revenue and 30% on table game revenue as state taxes, with projections indicating it could generate $7 billion in gaming tax revenue for New York over the next decade, enhancing state fiscal resources.
- Market Competitive Advantage: As the only casino in New York City, Resorts World has gained a competitive edge, expected to lead the future development of the entertainment and gaming market, while also facing community concerns regarding potential increases in crime and traffic.
See More
Evoke in Talks with Bally's Intralot for Takeover Proposal
- Acquisition Proposal Confirmation: Evoke (EVOK.L) has confirmed discussions with Greek lottery and gaming firm Bally's Intralot (BYLOTr.AT) regarding a takeover proposal at 50 pence per share, valuing the company at £225.3 million ($303.88 million), which could provide Evoke with much-needed capital and improve its financial standing.
- Tax Impact on Industry: The company has been significantly affected by the UK government's tax hikes on the betting industry, leading Evoke to announce the closure of several betting shops starting in May, indicating an urgent need to review strategic options, including a potential sale.
- Expected Deal Structure: The proposed deal is anticipated to be an all-share combination with a partial cash alternative, a flexible structure that may attract more investor participation and enhance Evoke's competitive position in the market.
- Bally's Intralot Background: Bally's Intralot operates in 40 regulated jurisdictions worldwide and completed the acquisition of Bally's International Interactive business last year, making U.S.-based Bally's Corporation (BALY.N) its majority shareholder, demonstrating its commitment to market expansion and growth.
See More
Consumer Sentiment Plummets, Impacting Stock Market
- Consumer Confidence Drop: The University of Michigan's survey revealed a March consumer sentiment index of 55.3, the lowest this year, primarily driven by financial concerns stemming from the Iran war, particularly among middle and higher-income households, which may lead to reduced consumer spending and impact corporate earnings and economic growth.
- Rising Inflation Expectations: Consumers now anticipate an average inflation rate of 3.8% over the next 12 months, indicating heightened concerns about the economic outlook, which could prompt more cautious spending behavior and exacerbate the risk of economic slowdown.
- Market Reaction: Stocks such as Opendoor, PENN Entertainment, and Bally's experienced significant declines, with Opendoor down 3.8%, PENN down 5.7%, and Bally's down 6.2%, reflecting the market's sensitivity to negative news and potentially providing investors with opportunities to buy quality stocks at lower prices.
- Bally's Stock Volatility: Bally's shares have seen 61 moves greater than 5% in the past year; despite today's drop, the market perceives the news as meaningful but not fundamentally altering its view of the business, especially following its partnership with Intralot to launch new lottery brands, which may support future growth.
See More
BALLY'S CORP: TRUIST SECURITIES LOWERS TARGET PRICE FROM $18 TO $13
Company Update: Bally's Corporation has announced a significant reduction in its target price for Truis Securities.
New Target Price: The target price has been cut from $18 to $13, indicating a notable decrease in expected valuation.
See More
