BALLYS CORP. DL-,01 Aktie

Moody’s cut Bally’s corporate family rating from B2 to B3 and its probability of default rating from B2‑PD to B3‑PD; the rating for unsecured bonds was lowered from Caa1 to Caa2, while the revolver credit facilities rated Ba3 remain confirmed. The agency attributed the downgrade to sharply increased project liabilities, sale‑leaseback transactions and an expected higher leverage through 2026 because of large projects such as the Chicago casino and planned developments in New York and Las Vegas. The liquidity rating (SGL‑3) and the stable outlook remain unchanged; Moody’s cited diversification and business growth as positives and indicated criteria for possible rating changes (debt/EBITDA persistently <6× for an upgrade, >8× or deteriorating liquidity for a further downgrade). » More on de.investing.com

Evoke, owner of William Hill and 888, said it is discussing a possible offer from US casino group Bally’s valuing the business at about £225m (50p a share). The proposed deal would be mainly an all-share combination with a partial cash alternative, but there is no certainty an offer will be made; Bally’s must confirm intentions by 18 May. Evoke has c.£1.8bn net debt, has seen its shares fall ~90% since buying William Hill, and faces pressure from higher online gambling duties and planned closure of about 200 betting shops. » More on theguardian.com

H.C. Charles Diao will resign effective April 1 as chief financial officer and as senior vice president and treasurer of the parent company. Bally’s Chicago has appointed Cheryl R. Ash as the new CFO, subject to regulatory approvals; she currently serves as senior vice president, finance, casinos & resorts at Bally’s Corporation. Ash’s existing annual base salary is $328,214 with a target bonus of 75% and potential future stock option awards; the company does not plan immediate contract changes. » More on de.investing.com