PROVIDENCE, R.I. (WPRI) — Bally’s Corp., the Providence-based casino operator that runs Rhode Island’s two casinos, saw its stock price tumble after telling regulators there is “substantial doubt” about its ability to continue operating over the next year.
The regulatory warning appeared in a quarterly report filed Friday with the U.S. Securities and Exchange Commission. The company reported it does not expect to meet the liquidity requirements attached to a temporary waiver its lenders granted in May on a debt covenant.
Externally, company representatives are attempting to reassure investors, saying the filing “reflects a forward-looking technical accounting analysis and should be understood in that context. The analysis does not take into account anticipated future funding until definitive financing agreements have been executed.”…