Bally’s Corporation revenue increases in Q2
Revenue was $657.5m in the second quarter ended June 30, up 5.8 per cent year-over-year.
US.- Bally’s Corporation has reported financial results for the second quarter ended June 30. Revenue totalled $657.5m, up 5.8 per cent year-over-year.
The Casinos & Resorts division reported revenue of $393.3m, up 14.7 per cent year-over-year, primarily reflecting the addition of four regional gaming properties from The Queen Casino & Entertainment. Adjusted EBITDAR grew 6.2 per cent year-over-year to $106m. Bally’s highlighted strong performance in Quad Cities, Vicksburg and Baton Rouge.
International Interactive segment revenue totalled $206.1m, down 10.2 per cent following last year’s divestiture of the Asia interactive business. Adjusted EBITDAR was $82.2m, up 1.1 per cent year-over-year.
UK online revenue increase 8.8 per cent year-over-year. North America Interactive segment revenue was $56.5m, up 21.5 per cent, follwing the addition of the Queen interactive business and growth from igaming and online sports betting. Adjusted EBITDAR was $2.5m.
Bally’s igaming is live in New Jersey, Pennsylvania, Rhode Island and Ontario. The BallyBet sports offering is live in 13 states, including New Jersey and Ontario.
Robeson Reeves, Bally’s chief executive officer, said: “Our second quarter results reflect milestone achievements and marked progress on our continued business transformation as the new Bally’s 2.0. Construction is in full swing at our permanent gaming and entertainment destination resort in Chicago. The resort will feature approximately 3,400 slots, 170-plus table games, a 500-room hotel tower, 3,000 seat theater, ten food and beverage venues and a river-side public park.
“In July, we announced a landmark agreement with Intralot S.A. to create a global gaming technology and services company in lottery and digital online gaming markets. Intralot S.A. will acquire Bally’s International Interactive business for €2.7bn, inclusive of €1.530bn cash and €1.136bn of newly issued Intralot shares (873,707,073 shares, at an implied value of €1.30 per share). Following the transaction, Bally’s will become the majority shareholder of Intralot, while the cash proceeds are expected to enhance Bally’s liquidity and significantly reduce our 2028 secured debt.
“We continue to move forward with our proposed $4bn casino and resort in the Bronx and are excited about the project. If Bally’s prevails in securing a New York City gaming licence, our casino resort has the potential to be the largest private investment in the borough of the Bronx’s history, driving job creation and wide-spread economic benefits to the area.”
