Bally’s Corporation announces Q2 growth

Quarterly revenue has increased almost tenfold compared to 2020.

Casino company and omni-channel platform Bally’s Corp. has revealed its quarterly results for the period ending June 30, 2021. Results reflect an improvement and the company has also updated its financial plans regarding the recently acquired Gamesys Group plc.  

Bally’s has announced that its revenue will be between $258m and $268m compared to total consolidated revenue of $28.9m during the same period last year. EBITDA has been recorded in the range of $80m to $84m, which compares to -$10.7m for the second quarter of 2020.  

Due to these numbers of growth, improved performance in its land-based casinos and online platforms, Bally’s has stated it does not plan on issuing incremental common equity or drawing on its commitment to fund the acquisition of Gamesys Group.  

Rather, the company intends to refinance the bridge facility and its debt related to Gamesys through one or more capital market transactions, which are expected to include private and public bond offerings.  

The acquisition of Gamesys will take place by the end of 2021.  

As well as acquiring the online gaming platform, Bally’s recently announced the purchase of the Association of Volleyball Professionals. The acquisition represents Bally’s efforts to continue the growth of its omni-channel strategy.  

Bally’s currently owns and manages 14 casinos across 10 states, as well as a horse racetrack in Colorado.

Henry Moore

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