Party Time

How to play Party Time

During immersive play, however, they wanted operators to take a more active role, through mechanisms such as pop-ups and reality checks.

After play, some looked to banks or regulatory bodies for oversight on total spend across platforms.

Within this shared model, there was a clear preference for personalised interventions over generic ones. 

What is Party Time?

“Having spent more than two decades in key operating and financial leadership roles at Bally’s, George has been instrumental in developing our business model, asset portfolio and growth strategy,” Reeves said.

“He steps into the interim role supported by an experienced finance organisation and I am confident that our reporting, controls and capital markets work will continue without disruption.”

Bally’s shares plunged 26% on 17 August despite a solid Q2 in which group revenue rose by 20% year-on-year to €792.2 million.

How to play Party Time

The problem is that legalisation has not happened as quickly as expected, while taxes and competition have increased. “Online gaming has been affected by the broader re-rating of growth-oriented internet and software stocks,” says Chad Beynon, managing director and head of US research at Macquarie Capital. “But there has also been a genuine deterioration in expectations for parts of the sector.”

Beynon says sports betting companies have suffered particularly badly because the market is questioning both future earnings and the size of the eventual opportunity. More iGaming-focused companies such as Rush Street Interactive and Super Group have generally performed better operationally, helped by stronger earnings growth and profitability.

The lesson is simple: gambling still attracts capital when the money is visible. It is less attractive when the payoff lies far in the distance.