350% or 5BTC + 150 Spins!
New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins
Bally’s Corporation delivered a second-quarter revenue increase despite the loss of its Asia interactive business, posting gains in both land-based and online markets. Revenue climbed 5.8% year-on-year to $657.5 million, supported by strong performance in its Casinos & Resorts and U.K. Online operations.
Good to know
Casinos & Resorts revenue reached $393.3 million, up 14.7%, fueled by the February acquisition of four regional properties from The Queen Casino & Entertainment. North America Interactive posted $56.5 million in revenue, a 21.5% jump, with adjusted EBITDAR of $2.5 million compared to a loss in the prior year.
International Interactive revenue dropped 10.2% to $206.1 million due to the Asia divestiture. However, excluding those operations, revenue rose 10%, driven by 8.8% growth in U.K. online revenue and continued improvement in Spain following the easing of marketing restrictions.
CEO Robeson Reeves said:
“Our second quarter results reflect milestone achievements and marked progress on our continued business transformation as the new Bally’s 2.0.”
Bally’s is moving forward with its permanent Chicago resort, which will feature around 3,400 slots, over 170 table games, a 500-room hotel, and a 3,000-seat theatre. In New York, the company is pursuing a proposed $4 billion casino in the Bronx, pending a city gaming license. Reeves said winning the license could make the project “the largest private investment in the borough of the Bronx’s history.”
In July, Bally’s agreed to sell its International Interactive business to Intralot S.A. for €2.7 billion ($3.14 billion) in cash and stock. The deal would make Bally’s the majority shareholder in the Greek lottery and gaming technology company and is set to close in the fourth quarter. Reeves described the move as “transformative,” saying it will combine Bally’s gaming and data technology with Intralot’s lottery expertise while strengthening liquidity and reducing debt due in 2028.
The company also invested AUD $200 million ($133 million) in Star Entertainment Group, with the option to raise its stake to 38%. Bally’s says the move fits its strategy of targeting underperforming operators with the aim of creating shareholder value.