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Dec 31, 2024
Bally's Q4 2024 Earnings Report
Bally's Corporation reported a decrease in company-wide revenue for the fourth quarter of 2024, with mixed performance across its segments, while also announcing progress on key development projects and strategic transactions.
Key Takeaways
Bally's Corporation experienced a 5.1% decrease in company-wide revenue for Q4 2024, totaling $580.4 million. While International Interactive revenue declined, U.K. online revenue grew, and North America Interactive revenue saw a significant increase. The company also made progress on its Chicago casino development and completed strategic transactions with The Queen Casino & Entertainment and Standard General.
Company-wide revenue decreased by 5.1% year over year to $580.4 million in Q4 2024.
Casinos & Resorts revenue declined by 5.2% to $324.4 million, while International Interactive revenue decreased by 9.1% to $214.5 million.
North America Interactive revenue increased by 24.4% year over year to $41.5 million.
Construction of the permanent Chicago casino has broken ground, and demolition is complete, with the company also completing transactions with The Queen Casino & Entertainment and Standard General.
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.com Forward Guidance
Bally's is optimistic about its long-term growth, driven by the expansion of its Casinos & Resorts segment, International Interactive business, and North America Interactive segment, following strategic transactions and ongoing operational improvements.
Positive Outlook
- The 'new' Bally's 2.0 is positioned as a dynamic global land-based and online casino operator with attractive growth pipelines in U.S. gaming.
- The four complementary Queen casinos are expected to continue rapid growth and benefit from inclusion in a broader domestic gaming portfolio.
- Bally's expects to drive growth across its expanded Casinos & Resorts segment, International Interactive business, and North America Interactive segment.
- The company is working to optimize its cost structure, enhance operational efficiency, and adopt best practices from Queen to drive long-term value creation.
- The permanent Chicago casino development and the Tropicana Las Vegas site work are progressing, with the A's franchise moving to the site and the landside conversions at Queen's Belle of Baton Rouge and Casino Queen Marquette on schedule.
Challenges Ahead
- C&R fourth quarter segment results reflected ongoing pockets of relative weakness inherent across a broad property portfolio.
- Chicago Temporary Casino's results remained below expectations.
- Rhode Island visitation continues to be a challenge due to ongoing local bridge construction.
- Atlantic City's performance continues to reflect the impact of turnover in the relationship marketing team.
- International Interactive revenue was offset by ongoing weakness in certain non-U.K. markets, despite strength in U.K. operations.