Bally’s Corporation released its first-quarter financial results for the period ending March 31 on Monday and reported a close to 5% decrease in company-wide revenue.
Key Takeaways
- Company-wide revenue dropped 4.7% to $589.2 million.
- North American interactive revenue saw solid rise of 12.5% to $44.5M.
The revenue was more than $589.2 million, a drop of 4.7% year over year.
There was positive news on the casinos and resorts side with revenue exceeding $351.2 million, up 2.6% year over year. North American interactive revenue saw substantial gains, garnering more than $44.5 million, up a solid 12.5% year over year.
“Revenue for our North America Interactive segment rose 12.5% year over year reflecting the addition of the Queen interactive business in the post-merger period and continued ramp of our Rhode Island interactive business, which benefited in part from the capture of spend by players impacted by the noted bridge construction issues affecting our brick-and-mortar operations in the state, and the benefit of contributions from Queen’s interactive operations," said Robeson Reeves, Bally’s CEO, in an official release.
“We are currently live with iGaming in New Jersey, Pennsylvania, Rhode Island, and Ontario. The BallyBet sports offering is live in 11 states as we continue to focus on productive marketing and optimizing our cost structure."
Internationally, United Kingdom online revenue grew 4.9%, while globally, the interactive revenue declined 18.3% year over year to $191.7 million, mainly due to the divestiture of their Asia interactive business last year.
“International Interactive revenue demonstrated continued strength in our U.K. operations. U.K. revenue rose 4.9% (5.6% in constant currency) driven by continued strong player retention and monetization," said Reeves.
“We grew revenues in Spain following the easing of advertising restrictions in that market. Overall International Interactive Adjusted EBITDAR of $77.1 million was down 7.7% year over year, primarily due to the divestiture of our interactive business in Asia in the fourth quarter of 2024. Following that divestiture, our International Interactive operations are primarily focused on regulated European markets that continue to demonstrate solid growth characteristics and deliver attractive margins."
Australian recharge
Back in April, Bally’s announced that it reached an agreement to infuse Australian casino group – The Star Entertainment – with $187 million (AUD $300 million) to help the company with budget deficits and regulatory issues.
Bally’s owns and operates 19 casinos across 11 states, along with a golf course in New York and a horse racetrack in Colorado and holds OSB licenses in 13 jurisdictions in North America. Its casino operations include roughly 17,300 slot machines, 595 table games, and 4,165 hotel rooms.
