Bally's Q3 2022 Earnings Report
Key Takeaways
Bally's Corporation reported third-quarter revenue of $578.2 million and net income of $0.6 million. Adjusted EBITDA was $151.0 million. The company is updating its full-year revenue and Adjusted EBITDA guidance to approximately $2.25 billion and $540 million, respectively.
Casinos & Resorts benefited significantly from the first full quarter of integration of regional casino properties and welcomed Tropicana Las Vegas.
International Interactive returned to growth in the U.K., with record margins, offset by foreign exchange headwinds.
North America Interactive experienced continued growth with New Jersey iGaming and the launch of a new combined app in Ontario.
Evaluating money losing businesses in North America Interactive and refocusing efforts where there are faster paths to profitability.
Bally's
Bally's
Bally's Revenue by Segment
Forward Guidance
Bally’s is updating the guidance it provided on August 4, 2022 for the year ending December 31, 2022 with revenue and Adjusted EBITDA of approximately $2.25 billion and $540 million, respectively, reflecting nine months of results, including significant strength in Casinos & Resorts offset by adverse foreign exchange movements and incremental expenses for state-by-state launch costs in North America Interactive.