Bally’s Corporation reports 5% decline in Q4 revenue
Bally’s Corporation has reported revenue of $580.4m for the fourth quarter of 2024.
US.- Bally’s Corporation has reported financial results for the fourth quarter and full year ended December 31, 2024. The report shows revenue of $580.4m for Q4, down 5.1 per cent compared to the same period in the previous year. North America Interactive revenue reached $41.5m, up 24.4 per cent year-on-year.
The casino and resort segment saw revenue of $324.4m, down 5 per cent. The international interactive division’s revenue was down 9 per cent year-on-year at $214.5m despite an 11 per cent jump in the UK market.
For the full year 2024, overall revenue reached $2.45bn and casino revenue $1.36bn, both flat compared to 2023. International interactive dropped 6.5 per cent to $909.5m and North American interactive grew 58 per cent to $177.8m.
Robeson Reeves, Bally’s chief executive officer, commented: “Fiscal 2024 was a transformational and transitional year for Bally’s as we funded and began development of our permanent Chicago casino resort and completed the controlled demolition of the Tropicana in Las Vegas paving the way for Major League Baseball’s A’s franchise to move to the site. Following these milestones, in early 2025 Bally’s completed a series of transactions with The Queen Casino & Entertainment and Standard General which has further expanded our scale and positioned the company for compelling long-term growth.”
He added: “The ‘new’ Bally’s 2.0 is a dynamic global land-based and online casino operator with attractive growth pipelines in U.S. gaming. Reflecting the now completed strategic transactions, the four complementary Queen casinos are poised to continue their rapid growth as they benefit from inclusion in a broader domestic gaming portfolio, with Bally’s benefiting from the expansion and diversification of our geographic profile. We emerged from these transactions significantly stronger, with the financial and operating wherewithal to continue to drive growth across our expanded Casinos & Resorts (“C&R”) segment, our International Interactive business and our North America Interactive segment.”
George Papanier, Bally’s president, added, “Fourth quarter revenue performance in our C&R segment reflects our ongoing work to unify our regional gaming portfolio, efforts which will accelerate now that the four Queen assets have been added to our business, as well as lingering pockets of relative weakness in certain portions of our geographic reach as previously noted. Despite this, Bally’s many growth opportunities remain firmly intact.
“We received final approval from the City of Chicago for our re-imagined permanent Bally’s Chicago Casino master plan in December, and we recently completed demolition and began construction at the permanent development site. Site work on the former Tropicana land continues and the A’s are making good progress towards the start of their stadium construction later this year while Bally’s progresses on the realisation of a more fully fleshed out integrated resort master plan for the remainder of our extremely valuable site.
“Further, the landside conversions at Queen’s Belle of Baton Rouge and Casino Queen Marquette remain on schedule, providing two of our newest assets with an attractive runway for growth on par with similar conversions across the industry. Importantly, the entire Queen portfolio is benefiting or poised to benefit from the repositioning of these assets which will provide our C&R segment with a nice tailwind for the foreseeable future. Collectively, these growth opportunities and our own ability to operate more efficiently and effectively across the portfolio have us optimistic for 2025 and beyond.”
