Mad Blast

About Mad Blast

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.

About Mad Blast

However, before he could even board the first cruise, Grant was told that he would not be able to proceed onboard. Grant had his son and partner along with him. The company only then went to inform Grant that he had been placed on a “no sail” list, effectively a ban, because of “breaking the house rules” in the casino.

Royal Caribbean informed Grant that he had broken various casino rules. While Grant filed a legal action against Royal Caribbean with the Queensland Civil and Administrative Tribunal, he has enjoyed qualified success so far.

Grant is suing the company to reimburse him for the AUD 22,000 he is owed. However, his case was at first shot down. Grant, however, appealed the decision and saw the court agree that it qualified as a consumer-trader dispute.

What is Mad Blast?

Lawmakers and regulators in Cyrpus have been debating methods to prevent recipients of the Guaranteed Minimum Income (GMI) from using state welfare payments for gambling. 

The GMI, know locally as EEE, is described as a “residual payment to guarantee and legal minimum income for all residents”.

Anyone residing in Cyprus, with income not high enough to support their basic needs, is eligible for the benefit.