New owners try to get Bally’s Atlantic City back in the game

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Things were almost as bleak in 2019, before the pandemic hit, as Bally’s barely avoided finishing last. A recession is a time to buy stocks that can wait through a downturn and make a strong comeback when the economy recovers. The post 2 Beaten-Down Growth Stocks That Could Double Your Money in a Recovery appeared first on The Motley Fool Canada.

Wall Street’s main indexes fell on Wednesday after hotter-than-expected inflation data fueled bets that the U.S. Federal Reserve will hike interest rates aggressively to tame surging prices. The Labor Department’s report showed the Consumer Price Index , which tracks the prices that urban consumers spend on a basket of goods, rose in June on both a monthly and annual basis by 1.3% and 9.1%, respectively. Economists polled by Reuters had forecast the monthly CPI to increase by 1.1% and the annual figure by 8.8%. “We are excited to enter into this agreement with Ainsworth,” said Bally Technologies’ Senior Vice President of Games Derik Mooberry. A walk through the casino on Monday saw electricians working on long strands of wiring, handymen removing outdated signs from walls, and old slot machine stools sitting in a soon-to-be discarded pile. Jane Bokunewicz, coordinator of a gambling and tourism institute at Stockton University, said Bally’s has an opportunity to reintroduce itself to a market that has known it since 1979. Last year, which saw casinos closed for 3 1/2 months due to the coronavirus pandemic, Bally’s finished dead last among Atlantic City’s nine casinos in terms of the amount of money won from gamblers.

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Bally integrates its cross-platform business-to-business iGaming solution with core casino patron, slot-management, and business-intelligence systems. This “single view of the player” provides operators with enterprise-wide analytics and the ability to conduct multi-channel promotions and bonusing to patrons on the casino floor, at home, or on the move. The company is adding restaurants, including a well-received Italian eatery that opened a few weeks ago. And its complete inventory of more than 1,200 hotel rooms will be redone as well.

— Phil Juliano was looking at Bally’s casino through rose-colored glass. Or more accurately, rose-colored glass flecked with jarringly out-of-place blue squares. Many cancer patients show no symptoms at early stages and receive diagnoses at advanced stages, which can drastically attenuate treatment effectiveness and decrease their quality of life. Healthcare systems implement routine cancer screening programs as the standard of care. However, most methods display detection limits and restricted uptake in clinical practices.

Bally Technologies Signs Agreement to Offer Ainsworth Game Technology Online Casino Content

On Tuesday, the telecoms regulator ordered Rogers to respond within ten days to its questions about the network outage that impacted millions of Canadians. “We’re thrilled more players will have the chance to play our online games through this partnership,” said Scott Clarebrough, Ainsworth’s General Manager Strategy & Development. “Like Bally, we believe that a business-to-business approach to the online market allows our valued customers the best options for providing innovative and compelling content.” Ainsworth’s world-class online gaming content will become available to Bally’s iGaming Platform customers, allowing them to deliver even more top offerings in online games to their players. The content will also be available on Bally’s Remote Gaming Server for distribution in regulated markets. What Bally’s intends to do is nothing short of bringing a comatose casino back to life in perhaps the most cutthroat gambling market in America. Bally’s for years had been a lesser priority of former owners Caesars Entertainment, which lavished attention and reinvestment cash on two higher-profile Atlantic City casinos, Harrah’s and Caesars. With the global cannabis market valued at just over $15 billion today, the path to a projected $194B gives companies and their investors room to run. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. This news release may contain “forward-looking” statements within the meaning of the Securities Act of 1933, as amended, and is subject to the safe harbor created thereby. The Company undertakes no obligation to update the information in this press release and represents that the information is only valid as of today’s date.

Liquidators for crypto hedge fund Three Arrows Capital obtained U.S. court permission on Tuesday to issue subpoenas and lay claim to the bankrupt Singapore-based company’s assets, noting that 3AC’s missing-in-action founders no longer control its accounts. Bankruptcy Judge Martin Glenn in Manhattan gave the liquidators authority to claim 3AC’s U.S.-based assets and issue subpoenas to its founders and about two dozen banks and cryptocurrency exchanges that may have information about its assets and transfers. Adam Goldberg, a lawyer for the liquidators, said at an emergency hearing Tuesday before Glenn that the whereabouts of company founders Zhu Su and Kyle Livingstone Davies remain unknown. The company later bought the Bally’s name, and embarked on a buying spree of gambling, technology, and content companies in its quest to become a perfectly integrated mix of in-person and online gambling and entertainment. The company owns 14 casinos, with acquisitions in Las Vegas and Pennsylvania awaiting approval by regulators. The global price of oil could surge by 40% to around $140 per barrel if a proposed price cap on Russian oil is not adopted, along with sanction exemptions that would allow shipments below that price, a senior U.S. U.S. Treasury Secretary Janet Yellen will discuss implementation of the U.S. price cap proposal and global economic developments with Japanese Finance Minister Shunichi Suzuki when they meet later on Tuesday, the official said. The goal was to set the price at a level that covered Russia’s marginal cost of production so Moscow is incentivized to continue exporting oil, but not high enough to allow it to fund its war against Ukraine, the official said. Rogers Communications Inc will be crediting customers with the equivalent of five days service, it said on Tuesday after the Canadian telecoms operator suffered a major outage that paralyzed the country’s banking and emergency services last week. Rogers has come under pressure from Canadian government, customers and politicians over last Friday’s unprecedented glitch that lasted 19 hours.

Last November, it promised New Jersey gambling regulators it would invest at least $90 million into the casino-hotel over the next five years. Enter Providence-based Twin River Worldwide Holdings, which was a smaller regional casino company in April 2020 when it bought Bally’s for $25 million, along with casinos in Shreveport, Louisiana, and Lake Tahoe, Nevada. NEW YORK -Target Corp has begun carrying Bobbie brand infant formula in some stores this week and the vast majority of its locations will be selling the product by September, as the national shortage persists. Bobbie, which has previously sold to consumers exclusively through its website, has increased its manufacturing output over the last few months by more than 30%, and is hoping to expand production further, Chief Executive Laura Modi said in an interview. Target currently has online and in-store limits on how much formula shoppers can buy. Walking along the Boardwalk in Atlantic City, he looked up at the glass-encased tower of what once was the hottest and most successful casino in the seaside gambling resort. What he saw annoyed him greatly, everywhere a broken window had once been.

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