Bally’s first-quarter revenue up 3.3% to $618.5 million

Finance News

Gaming, betting and entertainment company Bally’s missed analysts’ expectations in Q1 CY2024, with revenue up 3.3% year on year to $618.5 million.

On the other hand, the company’s outlook for the full year was close to analysts’ estimates with revenue guided to $2.6 billion at the midpoint. It made a GAAP loss of $3.61 per share, down from its profit of $3.24 per share in the same quarter last year.

Revenue: $618.5 million vs analyst estimates of $627.3 million (1.4% miss). Adjusted EBITDA: $116.5 million vs analyst estimates of $119.9 million (2.8% miss). EPS: -$3.61 vs analyst estimates of -$1.08 (-$2.53 miss.The company reconfirmed its revenue guidance for the full year of $2.6 billion at the midpoint also reconfirmed its full year EBITDAR guide.

Robeson Reeves, Bally’s Chief Executive Officer, commented, “Bally’s is off to a solid start in 2024, driven by revenue growth in our Casinos & Resorts and North America Interactive segments. While International Interactive revenues fell 4.4% year-over-year in the aggregate, our core UK interactive operations grew revenues 12% (7% on a constant currency basis) as our strategies play out reflecting the initiatives we adopted in contemplation of the White Paper implementation in the UK. On a consolidated basis, revenues in the first quarter grew 3.3% year-over-year to $618.5 million.