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Bally's Corporation reports developments across casino resorts, interactive gaming, sports betting and lottery technology. The company operates Bally-branded casinos and resorts in the United States and the United Kingdom, owns the Bally Bet sportsbook and iGaming platform in North America, and holds a majority interest in Bally's Intralot S.A., a lottery solutions supplier and gaming operator.
Recurring news includes quarterly results, integration of completed portfolio transactions, casino and resort development projects in Chicago, the Bronx and Las Vegas, credit facilities, sale-leaseback transactions and debt repayment activity. Company updates also cover live entertainment partnerships at casino properties and operating trends in Casinos & Resorts, Bally's Intralot B2C and North America Interactive.
Bally’s (NYSE: BALY) reported its third quarter 2024 financial results. Company-wide revenue was $630.0 million, a slight decrease of 0.4% year-over-year. Casinos & Resorts revenue dropped 1.6% to $353.4 million. UK online revenues grew 11.8%, while International Interactive revenue fell 5.3% to $230.9 million. North America Interactive revenue surged 54.5% to $45.7 million. Bally’s secured $940 million in funding for its Chicago project, with construction set for 2025, and completed the controlled demolition of the Tropicana hotel towers in Las Vegas. The company reported a net loss of $247.9 million, compared to a $61.8 million loss in the same quarter last year. Adjusted EBITDAR was $166.3 million. CEO Robeson Reeves highlighted the healthy performance of the UK segment and growth in North American Interactive revenue, while acknowledging challenges in other areas.
Bally's (NYSE: BALY) has scheduled its third quarter 2024 financial results release for November 6, 2024, after market close. The company will host a conference call at 4:30 p.m. EDT on the same day to discuss the results. Investors can access the call via toll-free number (800) 445-7795 using conference ID BALYQ324. An audio webcast will be available through the company's Investor Relations website, with the recording accessible for 120 days.
Bally’s (NYSE: BALY) reported Q2 2024 financial results with revenue of $621.7 million, up 2.5% year-over-year. Key segments included Casinos & Resorts with $343.1 million (up 3%), UK online revenues up 9%, and North America Interactive revenue up 94.7% to $49.2 million. However, International Interactive revenue declined by 7.4% to $229.4 million.
The company announced $2.07 billion in transactions with GLPI, including $940 million for its Chicago project. Bally's also entered a merger agreement with The Queen Casino & Entertainment Inc., offering shareholders $18.25 per share in cash or stock election.
Despite the revenue growth, Bally’s reported a net loss of $60.2 million, widening from $25.7 million in Q2 2023. Adjusted EBITDAR stood at $161.8 million. The company provided annual guidance, expecting revenues between $2.5 billion and $2.7 billion, with adjusted EBITDAR from $655 million to $695 million, likely at the lower end.
Bally's (NYSE: BALY) has entered into a merger agreement with Standard General L.P., its largest shareholder. The deal values Bally's at approximately $4.6 billion in enterprise value. Shareholders will receive $18.25 per share in cash, a 71% premium over the 30-day volume weighted average price as of March 8, 2024. Alternatively, shareholders can elect to retain their Bally's stock through a rollover option.
The merger will combine Bally's with The Queen Casino & Entertainment Inc. (QC&E), expanding Bally's Casino & Resorts segment to 19 facilities across 11 U.S. states. The transaction is expected to close in the first half of 2025, subject to regulatory approvals and shareholder vote. Standard General has secured $500 million in committed financing to support the merger.
Bally's (NYSE: BALY) has announced it will release its second quarter 2024 financial results after market close on Wednesday, July 31, 2024. The company will host a conference call at 4:30 p.m. EDT on the same day to discuss the results. Investors can access the call by dialing (800) 274-8461 (U.S. toll-free) and referencing conference ID BALYQ224. An online audio webcast will be available through the Investor Relations section of Bally's website, with an archive accessible for 120 days after the call.
Bally's announced a revised site plan for Bally's Chicago Casino. They will now combine the 500-room, 34-story hotel tower into a single-phase construction project, set to open in September 2026. The project, pending approval by the Chicago Department of Planning & Development, includes a large pool, spa, fitness center, sun deck, and rooftop restaurant bar. Bally’s secured a $940 million construction funding facility from Gaming and Leisure Properties (GLPI) for the project, with GLPI expected to fund a total of $2.07 billion to Bally's.
The site, formerly Tribune Publishing, will soon commence demolition by Brandenburg Industrial Service Company. The development will feature a 3,000-seat theater, six restaurants, cafes, a food hall, and a 2-acre public park, with approximately 3,300 slots and 173 table games. The project is expected to create 3,000 construction jobs and 3,000 casino jobs. Renderings were prepared by HKS, the global design firm.
Bally’s announced a $2.07 billion construction and financing arrangement with Gaming and Leisure Properties (GLPI) for a permanent casino development in Chicago. This includes a 15-year master lease agreement (MLA) and up to $940 million in construction financing. Additionally, GLPI will acquire and lease back properties in Kansas City and Shreveport for $395 million, with proceeds used to repay debts and for general purposes. The Chicago casino, featuring a 500-room hotel tower, is scheduled to open in September 2026. Bally's plans an initial public offering for Bally's Chicago, Inc., offering a 25% equity stake to minority-owned and women-owned businesses as per a community agreement with the City of Chicago.
Bally’s reported financial results for the first quarter of 2024 with company-wide revenue of $618.5 million, up 3.3% year-over-year. Casinos & Resorts revenue increased by 4.1%, International Interactive revenue decreased by 4.4%, and North America Interactive revenue surged by 70.2%.
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