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BALY News
BALY Events
Bally's Corporation Supports The Star's $260 Million Penalty Decision
Bally's Corporation commented on the Federal Court of Australia's decision in the Australian Transaction Reports and Analysis Centre proceedings against subsidiaries of The Star Entertainment Group Limited related to historical violations of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. The Federal Court imposed a penalty of $260M, payable in four installments over 19 months. The proceedings relate to historical conduct that occurred prior to Bally's investment in The Star and before the appointment of The Star's current board and executive leadership. Bally's supports The Star's acceptance of the Federal Court's decision and recognizes the seriousness of the historical conduct underlying the proceedings. The Company also welcomes the opportunity for The Star, under its new leadership, to continue demonstrating the significant operational, cultural and regulatory changes that have taken place across the business. Since Bally's became involved with The Star, the Company has provided strategic support to The Star's management team under an Umbrella Consultancy Agreement, bringing Bally's extensive expertise in casino operations, regulatory compliance and operational transformation to support The Star's ongoing remediation and turnaround efforts. "The issues underlying today's decision are important, and we respect the work of AUSTRAC and the Federal Court in holding the industry to the high standards expected of casino operators," said Soo Kim, executive chairman of Bally's Corporation and chairman of The Star Entertainment Group. "We are equally proud of what The Star's new leadership team has accomplished in a relatively short period of time. They inherited an extraordinarily challenging situation and have approached the turnaround with discipline, urgency and a clear understanding that strong casino operations and strong regulatory compliance must go hand in hand." The Star separately announced today that the $260 million penalty is materially in line with the provision previously recognized in its 2026 financial statements. The Star has also stated that it does not believe payment of the penalty under the Federal Court's 19-month installment schedule will affect the Group's ability to continue as a going concern. While the penalty constitutes a review event under The Star's credit facility agreement with WhiteHawk Capital Partners, The Star has stated that it is engaging with WhiteHawk and remains confident that the facility will continue to be available. Bally's remains committed to supporting The Star's management team and board as they continue to execute the company's remediation plan, strengthen its regulatory and compliance framework, improve operating performance and rebuild trust with regulators, guests, team members and the communities in which The Star operates.
Bally's Corporation Closes $400M Financing
Bally's Corporation closed the previously announced financing led by WhiteHawk Capital Partners. The Company received initial funding of term loans in an aggregate principal amount of $400M, the proceeds of which will be used to pay certain pre-construction costs and expenditures associated with the development of the Bally's Bronx project, with a portion applied to general corporate purposes, including payment of transaction fees and expenses incurred at closing. Additional delayed draw term loan commitments in an aggregate amount of $160M remain available for future draws to support the continued development of the Bally's Bronx project. The $4B Bally's Bronx integrated casino project is expected to open by 2030 and will feature 3 million square feet of gaming facilities, a 500-room hotel, a 2,000-person event center, and an 18-hole world-class golf course.
Bally's Corporation Secures $400M Financing for Bronx Project
Bally's Corporation secured new financing led by WhiteHawk Capital Partners, LP to fund further development of the Bally's Bronx project and general corporate purposes. The new financing comprises closing date term loan commitments in an aggregate principal amount of $400M and delayed draw term loan commitments in an aggregate principal amount of $160M. Proceeds of the loans advanced under the Facilities will be used to fund certain pre-construction costs and expenditures associated with the development of the Bally's Bronx project, with a portion of the proceeds available to the Company for general corporate purposes. The new financing is expected to close in the third quarter of 2026, subject to regulatory approval and the satisfaction of other customary closing conditions.
Bally's Corporation CFO Mira Mircheva Resigns
Bally's Corporation announced that Executive Vice President and Chief Financial Officer, Mira Mircheva, has notified the Company of her intent to resign her positions of Executive Vice President and Chief Financial Officer. Ms. Mircheva is leaving Bally's for personal reasons and while her resignation is effective September 4, 2026 she will remain with the Company through September 30, 2026, to ensure a seamless leadership transition. To lead the financial organization during this transition, the Board of Directors has appointed George Papanier as Interim Chief Financial Officer, effective September 4, 2026. Mr. Papanier will retain his current roles as President of Bally's and member of the Board of Directors. The Board has commenced a search to identify a permanent Chief Financial Officer.
Wall Street Major Indices Close Slightly Lower on Monday
Wall Street's major stock indexes closed fractionally lower Monday as investors awaited a heavy retail earnings slate, including Home Depot, Target, and Walmart, while geopolitical tensions and shifting Fed expectations also weighed on sentiment. The Dow Jones Industrial Average dipped about 0.3%, while the S&P 500 slipped 0.1%, and the Nasdaq Composite was slightly higher.Most economists expect the Fed to hold rates at 3.5%–3.75% through year-end, as weaker July employment, softer inflation and declining retail sales have reduced expectations for a September hike, though elevated inflation keeps a hike later in the year possible. The dollar fell to a 10-week low, reflecting doubts over whether the Federal Reserve will raise interest rates this year.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Equinoragreed toin the Lackawanna Energy Center for $940MNvidiawillin SB Energy for its Ohio data center leased to OpenAIOmniAbentered a globalwith Eli Lilly and Companythat Commerce Secretary Howard Lutnick said the White House does not want Appleto buy memory chips from ChinaArrow Electronicsexpanded its IBMdistribution coverage to2. WALL STREET CALLS:DeutscheSentinelOneto Hold following the stock's 90% rally from April lowsJefferiesof Honeywellwith a Hold ratingWorkdayto Hold at BTIG, with the firm noting shares are "priced for a buyout"CAEto Outperform at RBC CapitalPennyMac Mortgageto Buy at Deutsche, with the firm calling the recent selloff "overdone"3. AROUND THE WEB:In a recently published report, Wolf Pack said it is short Flotek (FTK) as the company has "yet to disclose to investors that their $400 million contract with the Puerto Rico Electrix Power Authority, accounting for about 57% of FTK's backlog, has been canceled."Alibabais set to sell its entire stake in Lingxi Games to Trustar Capital for more than $2B, advancing its strategy of divesting non-core assets to focus capital and management attention on AI and cloud computing, Reuters reportsAmazonis buying huge quantities of rare books, scanning them for AI, and destroying them, 404 Media reportsNexGen Energyis sharing information and talking regularly with BHP Groupabout its Rook I mining project in Saskatchewan, CEO Leigh Curyer told ReutersTeslahas told staff it is planning for a public Cybercab launch in August, its first vehicle without a steering wheel or brake pedal, Information reports4. MOVERS:Hive Digitalincreases afterGPU cloud services pact with an enterprise customerH Worldincreases in New York afterEnovixfalls after announcing theRaj TalluriEyePointlower after announcing its Duravyu Phase 3 studyGeminideclines after Goldman Sachs, Needham, Mizuho, Rosenblatt, and Cantor Fitzgeraldon the stocks following Q2 results5. EARNINGS/GUIDANCE:Bally'swith CEO commenting, "We delivered solid second quarter results across the enterprise"InspireMD, with EPS and revenue missing consensusPioneer Power, with EPS and revenue lower year-over-yearCEL-SCI, with CEO Geert Kersten commenting, "This was a quarter of important progress across our clinical, regulatory and commercialization programs as we move Multikine closer to patients"DataMEDS AI, with EPS and revenue lower year-over-yearINDEXES:The Dow was down 272.63, or 0.51%, to 53,459.78, the Nasdaq was down 84.25, or 0.32%, to 26,644.91, and the S&P 500 was down 40.70, or 0.52%, to 7,745.06.
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