Online drives Bally’s full year revenue up 8.6% to $2.45bn

Finance News

Bally’s today reported financial results for the fourth quarter and full year ended December 31, 2023.

Revenues were $611.7 million, up 6.1% year-over-year and up 8.6% for the full year. International Interactive revenues of $236.0 million, up 2.1% year-over-year. North America Interactive revenues of $33.4 million, up 26.9% year-over-year.

North America Interactive generated fourth quarter revenues of $33.4 million, up 26.9% year-over-year, and an Adjusted EBITDAR loss of $9.8 million. In 2024, we anticipate this segment will deliver an Adjusted EBITDAR loss of approximately $30 million, compared to an Adjusted EBITDAR loss of $55.7 million in 2023. We expect a non-linear quarterly cadence over the course of the year given various upcoming state launches and market entries, including our forthcoming iGaming launch in Rhode Island and our own live dealer online experience. For the full year, North America Interactive revenues grew 37.8%.”

Bally’s expects to generate full year 2024 revenues in a range of $2.5 billion to $2.7 billion and Adjusted EBITDAR in a range of $655 million to $695 million. The full year guidance includes the impact of severe winter weather on January results in the Casinos & Resorts segment followed by stabilization thus far in February, as well as the impact the closure of the Tropicana Las Vegas will have on our 2024 year-over-year comparisons. The outlook also includes continued growth in the International Interactive business and the launch of iGaming in Rhode Island in our North America Interactive segment.