Bally's Q4 2022 Earnings Report
Key Takeaways
Bally's Corporation reported a revenue increase for Q4 2022, but also a significant net loss primarily due to non-cash impairment charges. The Casinos & Resorts and International Interactive segments achieved record results, while the company focuses on strategic investments and profitability in North America.
Revenue increased to $576.7 million, up from $547.7 million in the prior year.
Net loss was $487.5 million, including $464.0 million in non-cash impairment charges.
Adjusted EBITDA reached $145.8 million, compared to $118.7 million in the previous year.
The company repurchased 0.9 million shares of its common stock for $20.8 million during the quarter.
Bally's
Bally's
Bally's Revenue by Segment
Forward Guidance
Bally’s is reaffirming the guidance it provided on February 13, 2023 for the year ending December 31, 2023 and estimates revenue in the range of $2.5 billion to $2.6 billion and Adjusted EBITDAR in the range of $660 million to $700 million, which includes approximately $124 million of rent expense (cash rent of $119 million) and a range of $40 million to $50 million of Adjusted EBITDA losses in North America Interactive.