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…

Atlantic City could lose more than 8,100 casino jobs and nearly $1.3 billion in annual revenue over the next decade due to rising regional competition, according to a recent economic report released by the Atlantic County Economic Alliance. The study outlines significant challenges for Atlantic City, projecting that potential job losses could account for more than one third of current casino employment in the municipality. Revenue declines might top 44% if multiple competitive threats emerge simultaneously. Under a baseline scenario that excludes proposed expansion in North Jersey, the coastal hub still faces potential reductions of 5,100 jobs and nearly $815…

Caesars Entertainment has scheduled a special shareholder meeting for September 22 to vote on the Caesars takeover proposal submitted by Fertitta Gaming Holdco. The upcoming vote marks a pivotal moment for the casino operator, as approval of the deal would result in taking the major gaming company private. The agreement approved by the board of directors outlines a structure where a subsidiary of Fertitta Gaming Holdco merges with Caesars Entertainment. Under the terms of the transaction, Fertitta offers $31 per share in cash, evaluating the company at a total valuation of $17.6 billion. This sum includes $5.7 billion in equity…

Big moves are shaking up Sin City from Fremont Street to the south end of the Strip. We have huge Vegas updates, including another new resort that’s being planned (and this one could actually happen). Plus some major changes to the Grand Bazaar Shops outside of the Horseshoe, but we begin in downtown, and more specifically the Downtown Grand, a property that has been in receivership since defaulting on its loans. Now, Vegas Ventures has agreed to purchase the resort, even putting down a $2.7 million deposit. They are not a gambling company, so expect Bit Street Gaming to continue…

The rumors are swirling! Will the new Las Vegas baseball stadium actually be completed? Are the owners in financial trouble? And was Tropicana imploded for nothing? That’s what we’re about to find out This Week in Gambling! Sin City visitors have a new attraction at the southeast corner of Tropicana and the strip. It’s called the Vegas shit show… but you probably know it as the new stadium. There are rumors floating around that Bally’s is in financial trouble, that they might have to sell their interest in the project, and that the stadium might not be completed at all….

Sphere Las Vegas turns three in September, and they’ve already established themselves as a major concert venue. The Eagles just extended their residency again, this time into early next year, and there are more big name artists lined up between now and Christmas. But no name is bigger than Metallica. Their life burns faster residency kicks off October 1st and runs through the middle of March 2027, featuring the fan favorite no repeat weekend format with shows having two completely different set lists. Their concerts will feature immersive graphics and spatial audio that keeps heavy metal crisp and powerful. But…