In early August, Bally’s Corp. (ບາລີ) stock tumbled after the casino operator cut its 2022 revenue and EBITDA estimates due to weakness at its venue in Atlantic City.
The company is now expecting 2022 EBITDA between $535 million and $550 million, down from its previous forecast between $560 million and $580 million. The company now expects sales between $2.2 billion and $2.3 billion for the year, down from a previous estimate between $2.4 billion and $2.5 billion.
But this week, the stock was on a tear, and is now nearly 15% higher than it was when it reported on August 5.