Bally's Q1 2024 Earnings Report
Key Takeaways
Bally's Corporation reported a 3.3% year-over-year increase in revenue to $618.5 million for Q1 2024. Growth was driven by Casinos & Resorts and North America Interactive, while International Interactive revenues declined. The company is focused on expense reduction and operational efficiency.
Company-wide revenue increased by 3.3% year-over-year to $618.5 million.
Casinos & Resorts revenue grew by 4.1% year-over-year to $342.3 million.
North America Interactive revenue increased significantly by 70.2% year-over-year to $41.5 million.
Successfully launched iGaming in Rhode Island as sole provider.
Bally's
Bally's
Bally's Revenue by Segment
Forward Guidance
The Company’s annual guidance remains unchanged with expectations for 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.
Positive Outlook
- Continued ramp of the Chicago Temporary Casino
- Growth in the Company’s International Interactive business
- Revenue ramp from the introduction of iGaming operations in Rhode Island
Challenges Ahead
- Impact of the Tropicana Las Vegas closure