Bally’s Corporation revenue rises in Q3
Revenue increased 5.4 per cent year-over-year.
US.- Bally’s Corporation has reported financial results for the third quarter ended September 30. Revenue totalled $663.7m, up 5.4 per cent year-over-year.
The Casinos & Resorts division reported revenue of $396.1m, up 12.1 per cent year-over-year. UK online revenue grew 8 per cent, while International Interactive revenue totalled $215.1m, down 6.9 per cent year-over-year due to the divestiture of the Asia interactive business in 2024.
The company said that excluding the impact of Asia interactive business divestiture, International Interactive revenue was up 11.7 per cent. North America Interactive revenue was $49.9m, up 13.1 per cent year-over-year.
Early in the fourth quarter, Bally’s announced the completion of Intralot SA’s acquisition of Bally’s International Interactive business for €2.7bn in of cash and stock. Following the transaction, Bally’s has become the majority shareholder of Intralot SA.
Robeson Reeves, Bally’s chief executive officer, commented: “Our solid third quarter results and recent strategic initiatives highlight further marked progress across multiple fronts on our transformation to the new Bally’s 2.0. We announced in October that Intralot SA completed its acquisition of Bally’s International Interactive business for €2.7bn, comprised of €1.530bn cash paid to Bally’s and 873.7 million new Intralot shares issued to Bally’s. Following the closing, Bally’s became the majority shareholder of Intralot with a 58% ownership interest. Importantly, we allocated a portion of the cash proceeds from the transaction to pay down approximately $1.3bn of secured debt and outstanding revolver balances.
“The combination of Bally’s International Interactive and Intralot created a global iGaming and lottery champion with enhanced scale, diversification, and a highly complementary product offering across B2G, B2B and B2C channels. Intralot is now one of the largest listed companies on the Athens Stock Exchange, and the combined entity is expected to generate approximately €1.1bn in annual revenue. With industry-leading EBITDA margins in excess of 39%, driven by operational synergies, cross-market opportunities, and continued data-driven innovation, Intralot is superbly positioned to unlock significant cross-selling opportunities and drive growth and long-term value creation.
“Following the closing of the Intralot transaction, in October, we implemented cost-savings programs focused on driving efficiencies and improved profitability across the enterprise. This reorganization initiative primarily focused on optimizing Corporate and Casinos & Resorts overhead and expenses and we anticipate more than $15m in annual savings beginning in the current quarter.
In September, the Bronx Community Advisory Committee advanced Bally’s proposal for a $4bn casino to contend for one of New York’s casino licences.
Last month, Bally’s announced plans to develop Bally’s Las Vegas on the former Tropicana site, sharing a 35-acre campus with the Las Vegas Athletics.
