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Ballys (Ballys) Beneish M-Score

: -2.80 (As of Today)
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The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Good Sign:

Beneish M-Score -2.8 no higher than -1.78, which implies that the company is unlikely to be a manipulator.

The historical rank and industry rank for Ballys's Beneish M-Score or its related term are showing as below:

BALY' s Beneish M-Score Range Over the Past 10 Years
Min: -2.8   Med: -2.66   Max: 3.69
Current: -2.8

During the past 8 years, the highest Beneish M-Score of Ballys was 3.69. The lowest was -2.80. And the median was -2.66.


Ballys Beneish M-Score Historical Data

The historical data trend for Ballys's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Ballys Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Beneish M-Score
Get a 7-Day Free Trial -2.74 3.69 -0.48 -2.66 -2.80

Ballys Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Beneish M-Score Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -2.66 -3.11 -2.96 -2.94 -2.80

Competitive Comparison

For the Resorts & Casinos subindustry, Ballys's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Ballys Beneish M-Score Distribution

For the Travel & Leisure industry and Consumer Cyclical sector, Ballys's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Ballys's Beneish M-Score falls into.



Ballys Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Ballys for today is based on a combination of the following eight different indices:

M=-4.84+0.92 * DSRI+0.528 * GMI+0.404 * AQI+0.892 * SGI+0.115 * DEPI
=-4.84+0.92 * 0.896+0.528 * 1.007+0.404 * 0.9639+0.892 * 1.0857+0.115 * 0.9965
-0.172 * SGAI+4.679 * TATA-0.327 * LVGI
-0.172 * 1.0835+4.679 * -0.057402-0.327 * 1.0303
=-2.80

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec23) TTM:Last Year (Dec22) TTM:
Total Receivables was $162 Mil.
Revenue was 611.67 + 632.477 + 606.206 + 598.72 = $2,449 Mil.
Gross Profit was 334.886 + 345.305 + 334.991 + 328.715 = $1,344 Mil.
Total Current Assets was $572 Mil.
Total Assets was $6,861 Mil.
Property, Plant and Equipment(Net PPE) was $2,335 Mil.
Depreciation, Depletion and Amortization(DDA) was $350 Mil.
Selling, General, & Admin. Expense(SGA) was $919 Mil.
Total Current Liabilities was $875 Mil.
Long-Term Debt & Capital Lease Obligation was $4,992 Mil.
Net Income was -278.383 + -61.802 + -25.651 + 178.336 = $-188 Mil.
Non Operating Income was -335.343 + -4.478 + -19.251 + 376.796 = $18 Mil.
Cash Flow from Operations was 70.255 + 54.309 + 80.162 + -16.112 = $189 Mil.
Total Receivables was $167 Mil.
Revenue was 576.689 + 578.249 + 552.496 + 548.271 = $2,256 Mil.
Gross Profit was 328.427 + 327.559 + 302.061 + 288.422 = $1,246 Mil.
Total Current Assets was $523 Mil.
Total Assets was $6,300 Mil.
Property, Plant and Equipment(Net PPE) was $2,011 Mil.
Depreciation, Depletion and Amortization(DDA) was $301 Mil.
Selling, General, & Admin. Expense(SGA) was $782 Mil.
Total Current Liabilities was $756 Mil.
Long-Term Debt & Capital Lease Obligation was $4,472 Mil.




1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI=(Receivables_t / Revenue_t) / (Receivables_t-1 / Revenue_t-1)
=(162.079 / 2449.073) / (166.609 / 2255.705)
=0.06618 / 0.073861
=0.896

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI=GrossMargin_t-1 / GrossMargin_t
=(GrossProfit_t-1 / Revenue_t-1) / (GrossProfit_t / Revenue_t)
=(1246.469 / 2255.705) / (1343.897 / 2449.073)
=0.552585 / 0.548737
=1.007

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI=(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t) / (1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
=(1 - (572.345 + 2335.176) / 6861.103) / (1 - (522.713 + 2011.028) / 6300.113)
=0.576231 / 0.597826
=0.9639

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI=Sales_t / Sales_t-1
=Revenue_t / Revenue_t-1
=2449.073 / 2255.705
=1.0857

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI=(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1)) / (Depreciation_t / (Depreciaton_t + PPE_t))
=(300.559 / (300.559 + 2011.028)) / (350.408 / (350.408 + 2335.176))
=0.130023 / 0.130477
=0.9965

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI=(SGA_t / Sales_t) / (SGA_t-1 /Sales_t-1)
=(919.39 / 2449.073) / (781.506 / 2255.705)
=0.375403 / 0.346458
=1.0835

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI=((LTD_t + CurrentLiabilities_t) / TotalAssets_t) / ((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
=((4991.592 + 874.78) / 6861.103) / ((4472.317 + 755.802) / 6300.113)
=0.855019 / 0.829845
=1.0303

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA=(IncomefromContinuingOperations_t - CashFlowsfromOperations_t) / TotalAssets_t
=(NetIncome_t - NonOperatingIncome_t - CashFlowsfromOperations_t) / TotalAssets_t
=(-187.5 - 17.724 - 188.614) / 6861.103
=-0.057402

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Ballys has a M-score of -2.80 suggests that the company is unlikely to be a manipulator.


Ballys (Ballys) Business Description

Traded in Other Exchanges
Address
100 Westminster Street, Providence, RI, USA, 02903
Ballys Corp is a gaming, hospitality, and entertainment company with a portfolio of casinos and resorts, and online gaming businesses. It provides its customers with physical and interactive entertainment and gaming experiences, including traditional casino offerings, iCasino, online bingo, sportsbook, and free-to-play (F2P) games. The company has three reportable segments; Casinos & Resorts Includes the Company's 15 casino and resort properties and one horse race track, the North America Interactive segment includes a portfolio of sports betting, iGaming, and free-to-play gaming brands, and the International Interactive segment includes Gamesys' European and Asian operations.
Executives
Jeffrey W Rollins director
Jaymin B Patel director C/O GTECH HOLDINGS CORPORATION, 55 TECHNOLOGY WAY, WEST GREENWICH RI 02817
Terrence Downey director 100 TWIN RIVER ROAD, LINCOLN RI 02865
Wanda Y. Wilson director 100 TWIN RIVER ROAD, LINCOLN RI 02865
Lee Kim Barker officer: EVP, Chief Legal Officer C/O BALLY'S CORPORATION, 100 WESTMINSTER STREET, PROVIDENCE RI 02903
Tracy S. Harris director C/O 1847 HOLDINGS LLC, 590 MADISON AVE., 21ST FLOOR, NEW YORK NY 10022
Robeson Reeves director, officer: President, Interactive 100 WESTMINSTER STREET, PROVIDENCE RI 02903
Craig L Eaton officer: EVP, General Counsel, Sec. 100 TWIN RIVER ROAD, LINCOLN RI 02865
George T. Papanier director, officer: President and CEO 100 TWIN RIVER ROAD, LINCOLN RI 02865
Marcus Glover officer: EVP, Chief Financial Officer C/O BALLY'S CORPORATION, 100 WESTMINSTER STREET, PROVIDENCE RI 02903
Standard General L.p. director, 10 percent owner 767 FIFTH AVENUE, 12TH FLOOR, NEW YORK NY 10153
Noel Hayden 10 percent owner C/O ANZO GROUP LIMITED, 25 GOLDEN SQUARE, LONDON X0 W1F 9LU
Marc A Crisafulli officer: EVP Government Relations C/O GTECH HOLDINGS CORPORATION, 55 TECHNOLOGY WAY, WEST GREENWICH RI 02817
Robert M. Lavan officer: Executive Vice President, CFO 5201 INTERCHANGE WAY, LOUISVILLE KY 40229
Stephen H Capp officer: Executive Vice President, CFO C/O PINNACLE ENTERTAINMENT INC, 8918 SPANISH RIDGE AVENUE, LAS VEGAS NV 89148