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Mar 31
Bally's Q1 2025 Earnings Report
Estimated Revenue:$598M
+1.8% YoY
Estimated EPS:-$1.98
77.8% YoY
Key Takeaways
Bally's completed a series of transactions in Q1 2025, adding four regional gaming properties, which contributed to a 6.3% year-over-year growth in the Casinos & Resorts segment's Adjusted EBITDAR. Total revenue for the combined post-merger and pre-merger periods decreased by 4.7% compared to the prior year.
Total revenue for the combined post-merger and pre-merger periods in Q1 2025 was $589.2 million, a decrease of 4.7% from $618.5 million in Q1 2024.
Casinos & Resorts segment Adjusted EBITDAR grew 6.3% year over year to $95.1 million, reflecting the addition of the Queen properties.
International Interactive revenue demonstrated continued strength in the U.K. operations, rising 4.9% (5.6% in constant currency).
North America Interactive segment revenue rose 12.5% year over year due to the addition of the Queen interactive business and the ramp-up of the Rhode Island interactive business.
Bally's
Bally's
Bally's Revenue by Segment
Revenue by Segment
Casinos & Resorts Revenue
CapyFin.comInternational Interactive Revenue
CapyFin.comNorth America Interactive Revenue
CapyFin.comCorporate & Other Revenue
CapyFin.com Forward Guidance
Bally's is focused on driving operating efficiencies, profitable top line growth, and improving operating margins while growing its International Interactive business and optimizing the North America Interactive segment. They are also confident in their strategic investment in Star Entertainment Group.
Positive Outlook
- Expanded domestic gaming portfolio with attractive growth opportunities through the Queen acquisition.
- Deploying best operating practices to drive efficiencies and growth.
- Continued stability in the domestic regional gaming environment.
- Legacy properties outpaced market growth in seven of twelve jurisdictions in Q1.
- Strategic capital investment in Star Entertainment Group offers potential for significant equity stake and influence.
Challenges Ahead
- Inclement weather and increased supply in some regional markets offset growth.
- Traffic impacts in Rhode Island due to bridge construction issues.
- Chicago temporary facility is still fine-tuning operations.
- International Interactive Adjusted EBITDAR was down year over year, primarily due to the divestiture of the Asia interactive business.
- Competitive landscape in certain markets.
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Key Statistics
Market Cap
$736M
P/E Ratio
-0.00
Sector
Consumer Services
Industry
Casinos Or Gaming
52-Week High
$18.2
52-Week Low
$17.6
Adjusted EBITDAR - Casinos & Resorts
$101M
Adjusted EBITDAR - International Interactive
$77.1M
Adjusted EBITDAR - North America Interactive
-$6.59M
Adjusted EBITDAR - Corporate & Other
-$17.8M
Cash and cash equivalents
$210M