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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.

The share price came under pressure following debt disclosures in Bally’s Q2 10-Q filing, which was submitted to the Securities and Exchange Commission on 14 August.

In the filing, Bally’s noted that based on current forecasts, the business “does not project that it would satisfy the liquidity maintenance requirement” or the “consolidated net leverage ratio covenant” in its revolving credit facility over the next year.

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Rodano’s appointment reflects Allwyn’s commitment to enhancing responsible gaming as an integral part of its growth strategy, the company said in a statement announcing the move.

The company’s existing businesses have achieved Level 4 accreditation under the World Lottery Association’s responsible gaming framework – the highest possible level.

Robert Chvátal, Allwyn’s chief executive officer, said appointment aligned with the group’s long-term vision to embed integrity and player safety across its products and markets.

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The first is the ongoing cannibalization of in-person gaming by online casinos. The Mid-Atlantic is home to four of the country’s eight legal iGaming states: Delaware, New Jersey, Pennsylvania, and West Virginia.

While in-person casino revenue declined in Delaware, New Jersey, and Pennsylvania, iGaming reported GGR growth in each jurisdiction. iGaming revenue in New Jersey was up 4.4%, Pennsylvania’s online casinos saw GGR climb almost 6%, and Delaware iGaming surged 35%.

Though Maryland, Virginia, and New York do not have iGaming, prediction markets offering trading on everything from sports to politics continue to make their platforms accessible. Controversial sweepstakes casinos additionally continue to operate in Virginia and Maryland.