Deep Value: cash covers more than 100% of the stock price

This company holds roughly $582M in cash and investments — more than its entire stock-market value, based on its latest quarterly filing. You're paying very little for the actual business. Sometimes that's a genuine bargain or a takeover target, sometimes it's cheap for a reason. Not a buy signal on its own — always ask why it's this cheap.

Bally's Corporation

BALY

Gambling, Resorts & Casinos · Consumer Cyclical

Price

$10.23

+0.41 (+4.18%)

Market Cap

$500.7M

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Share count rising — dilution

+22.2% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 49.6M (2021) → 60.7M (2025)

Winston Score History

The full picture

Bally's Corporation owns and operates casinos, hotels, and sports betting services across the United States. Its customers are everyday gamblers and resort guests who visit its physical casino properties or place bets through its online and mobile platforms. The company owns the Bally's brand and runs over a dozen casino properties in states like Rhode Island, Mississippi, and Colorado, while also building a large casino in Chicago.

Bally's makes money through casino gaming revenue, hotel stays, food and beverage sales, and online sports betting and iGaming fees. It operates almost entirely in the United States and is a mid-sized player in a crowded industry dominated by larger rivals like MGM and Caesars. The company carries significant debt from years of rapid acquisitions, and its near-zero operating margin shows it is spending heavily to grow — the Chicago casino project and online gambling expansion are key bets on future revenue, but rising interest costs remain a serious financial risk.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+20.5% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+35.9% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

0.0% of revenue

Below sector average (4%)

Research and development spending

Insider Activity

90.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~11 months

$582M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Short runway — potential dilution ahead through share issuance

Cash watch

Bally's Corporation has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

49.5%

Healthy — 49.5% gross margin

Profit after running costs

Operating Margin

-4.3%

Losing money on operations — -4.3%

Return on the money invested

ROCE

-1.2%

Weak — -1.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+20.4%

Fast-growing sales (+20.4% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-16.8%

Burning cash (-16.8%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

3.58

Heavy debt load (3.58)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

—

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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