Bally’s reports 3.3% increase in Q1 revenue

Bally’s Corporation has reported revenue of $618.5m for the first quarter.

US.- Bally’s Corporation has announced financial results for the quarter ended March 30. The company reported revenue of $618.5m, up 3.3 per cent compared to the same period last year. Some $516.1m was attributed to gaming operations, up 6 per cent year-on-year. Non-gaming generated $102.4m, down 8.4 per cent year-on-year.

North America Interactive saw the most growth, with revenue up 70.2 per cent year-on-year. This was helped by the launch of legal online casino in Rhode Island, with Bally’s the only licensed operator in the state. Bally’s noted a drop within its International Interactive business, but core operations in the UK remained strong.

Elsewhere, Casinos & Resorts revenue was up including the contribution from the Chicago temporary casino and the winding down of the Tropicana Las Vegas.

The company ended the quarter with a loss of $173.9m amid cost increases Adjusted EBITDAR was up 4 per cent year-on-year at $148m.

Bally’s posted 2024 guidance forecasting full-year revenue of between $2.5bn and $2.7bn. The company expects adjusted EBITDAR in a range of $655 million to $695m.

Marcus Glover, Bally’s chief financial officer, said: “Our financial results for the first quarter of 2024 demonstrate the strength of our diversified business segments. Bally’s operating teams remain focused on reducing expenses and enhancing operating efficiency.”