Slight Revenue Decline for Bally’s in Q3

Bally’s Sees Revenue Decline

Revenue from Bally’s casino segment amounted to $353.4 million, a drop of 1.6%. Additionally, the international online segment saw a 5% decrease to $231 million, despite an 11% growth in online revenue from the UK.

Despite the minor decline, company representatives highlighted several developments that could enhance future performance. North American revenue rose by 54% to $45.7 million, driven by the expansion of Bally’s sports betting operations and its monopoly on online gaming in Rhode Island.

Adjusted EBITDA was $137.7 million, a slight dip from $141.6 million a year earlier. For the first nine months of 2024, Bally’s total revenue reached $1.87 billion, close to the $1.83 billion from the same period last year.

Bally’s U.S. Performance

Bally’s North American interactive segment posted a 54.5% revenue increase, reaching $45.7 million in Q3 2024. This growth was attributed to the expansion of Bally’s sports betting and the company’s exclusive online gaming operations in Rhode Island.

However, despite the revenue boost, the North American interactive segment posted an EBITDA loss of $11 million for Q3. The company saw strong performance from iGaming in Rhode Island and promising results in Pennsylvania, but weaker outcomes in New Jersey impacted profitability.

Bally’s CEO, Robeson Reeves, noted the positive player response to Bally Bet and iGaming products: “Our iGaming product offering and Bally Bet OSB continue to garner positive player feedback, and we remain excited by the long-term promise embedded in this segment,” he said.

The U.S. casinos and resorts segment experienced a 1.6% revenue decline year-over-year, reaching $353.4 million.

Regional casino performance was mixed, including lower revenue at the Lincoln, Rhode Island property due to traffic disruptions from bridge construction. Atlantic City also saw a revenue drop due to staff turnover during the summer.

Bally’s is now focused on optimizing and centralizing casino and resort functions at the property level, which is expected to yield positive results in the upcoming quarters.