Bally’s shares fall 26% after liquidity warning
By SectorWire desk ·
Summary
Bally’s shares closed 26% lower at $10.34 on 17 August after the company questioned its ability to keep operating over the following year. Its quarterly SEC filing identified liquidity risks linked to debt covenants. Second-quarter revenue rose 20.5% to $792.2m, while the company recorded a $164m net loss.
Why it matters
Bally’s identified debt covenant liquidity risks and questioned its ability to continue operating despite revenue growth.