Bally’s first-quarter revenues ‘below expectations’ 

Finance News

Bally’s Corporation on Thursday reported first-quarter net income of $1.9 million, after reporting a loss in the same period a year earlier.

The operator posted revenue of $548.3 million in the period, missing forecasts. Adjusted EBITDA in the range of $560 million to $580 million. Bally’s currently estimates revenue to be at the lower end of the range primarily due to the uncertainty of foreign exchange movements.

Lee Fenton, Chief Executive Officer said, “Our Casinos & Resorts’ results were strong as the US consumer returned to our properties as US COVID restrictions were lifted. International Interactive revenue was down 1% year over year on a constant currency basis due to tightened consumer spending in the UK that was offset by solid performance by our Asia business.

North America Interactive continued to invest in the rollout plan that accelerated this month with the launch of our foundational 2.0 tech stack in Arizona yesterday.”