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Sep 30, 2023
Bally's Q3 2023 Earnings Report
Announced record company-wide revenue and solid operating results across all business segments, driven by Casinos & Resorts and International Interactive.
Key Takeaways
Bally's Corporation reported record company-wide revenue of $632.5 million, a 9.4% year-over-year increase. The company experienced a net loss of $61.8 million, but generated Adjusted EBITDAR of $173.2 million. Strong performance in the Casinos & Resorts and International Interactive segments contributed to the overall revenue growth.
Achieved record company-wide revenue of $632.5 million, up 9.4% year-over-year.
Casinos & Resorts revenue reached a record $359.0 million, a 9.3% increase year-over-year.
International Interactive revenue grew by 7.2% year-over-year to $243.9 million, driven by a 13.1% increase in the UK.
Successfully opened the Chicago Temporary Casino in September.
Revenue by Segment
Forward Guidance
Bally’s is adjusting the revenue guidance for the remainder of the year to $2.4 billion to $2.5 billion. The guidance range for Adjusted EBITDAR is now $640 million to $655 million.
Challenges Ahead
- Later-than-expected opening of Chicago Temporary Casino
- Decision to pause reinvestment and operational changes at the Tropicana while awaiting MLB’s decision on the Oakland A’s relocation.
- Updating recent foreign exchange headwinds at Bally’s International Interactive due to the strengthening of the U.S. dollar.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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