Yun Cong Long

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Bally’s shares plunged 26% on 17 August despite a solid Q2 in which group revenue rose by 20% year-on-year to €792.2 million.

The share price came under pressure following debt disclosures in Bally’s Q2 10-Q filing, which was submitted to the Securities and Exchange Commission on 14 August.

In the filing, Bally’s noted that based on current forecasts, the business “does not project that it would satisfy the liquidity maintenance requirement” or the “consolidated net leverage ratio covenant” in its revolving credit facility over the next year.

How to play Yun Cong Long

Other than Station, Las Vegas Sands had been the other largest non-union holdout in Las Vegas for many years. But when the Venetian-Palazzo was sold to Apollo Global Management in 2021, the firm had no issues with Culinary and ratified the property’s first-ever deal with the union in 2024.

The animosity between the sides has become political over the years. Station is owned and operated by the Fertitta family, who have been prominent Republican donors for many years. Culinary is a largely Democratic organisation that typically supports and endorses left-leaning candidates.

Last month, US President Donald Trump made an impromptu visit to Las Vegas, hosting a rally at Red Rock. Trump called the Fertittas a “beautiful family” during his remarks. Culinary, meanwhile, denounced the event and the Fertittas’ support of Trump and Nevada’s Republican Governor Joe Lombardo.

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Betting shops declining for the twelfth consecutive period, standing at 5,617, a 3.6% decrease representing a loss of 208 shops year-on-year.

Various tier one and two retail operators, such as William Hill and Betfred, have scaled back and closed hundreds of shops between them this year.

Non-remote betting was reported at £2.4 billion (down 3.3%) with non-remote casinos at £933.9 million (up 0.4%) and non-remote bingo at £703.8 million (up 8.2%).