Bally's Q3 2023 Earnings Report
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.
Bally's
Bally's
Bally's 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.