Bally’s Corporation posts $606.2m in Q2 2023 revenue

Bally’s Corporation has published its financial and business results for the second quarter of 2023. The group’s casino and resort revenue surpassed previous highs, increasing by 11% year-over-year.

Total company revenue reached $606.2m for Q2, reflecting a 9.7% boost when compared to last year’s second quarter. Bally’s casinos and resorts posted a record high of $333.2m in revenue.

International interactive revenue grew by 5.6% year-over-year, totaling $247.8m for the second quarter. Interactive revenue from its North America division reached $25.2m in Q2.

The company also posted adjusted EBITDA of $130m.

Company CEO Robeson Reeves said regarding the Q2 report, “Bally’s made significant strides this quarter, announcing new initiatives, achieving important project milestones, and building on our strong foundation for 2023 and beyond.

“Our core casinos & resorts segment produced record second-quarter revenues of $333.2m, an 11.1% increase compared to the second quarter of 2022.

“International Interactive also remained solid, with revenues increasing 5.6% year-over-year, led by our robust UK business, which grew revenues by 11.5% year-over-year.”

In its business update, the operator reported on its agreement with the Oakland A’s. The company will partner with the team to build a new baseball stadium. Once completed, the new venue would reside on the Tropicana Las Vegas site, located on the southern end of the Las Vegas Strip. The stadium is designed to seat between 30,000 and 35,000 fans.

Bally’s President George Papanier discussed the company’s plans for other upcoming venues.

He said, “Our core Casinos & Resorts customer base remains resilient. While we are keeping a close eye on spending trends and the health of the consumer generally, we are pleased with how our overall portfolio is performing, with significant year-over-year revenue growth and margin expansion.

“We are looking forward to the opening of our Chicago Temporary Casino in September and the unveiling of our property redevelopment in Kansas City as well.”

Elena Rodriguez

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