Bally’s generates $2.45bn in revenue for FY2024; Q4 revenue decreases 5.1%

Bally’s Corporation has reported its financial results for Q4 and full year (FY) 2024, increasing revenue year-over-year during FY2024 by 0.1% to $2.45bn, while Q4 2024 revenue decreased by 5.1% from the prior year period. Revenue during the fourth quarter of 2024 was reported to be $580.4m, which included UK online revenue growth of 11.3% year-over-year. 

“Fiscal 2024 was a transformational and transitional year for Bally’s as we funded and began development of our permanent Chicago casino resort and completed the controlled demolition of the Tropicana in Las Vegas paving the way for Major League Baseball’s A’s franchise to move to the site,” Bally’s CEO Robeson Reeves said. 

“Following these milestones, in early 2025 Bally’s completed a series of transactions with The Queen Casino & Entertainment and Standard General which has further expanded our scale and positioned the Company for compelling long-term growth.”

CFO Marcus Glover spoke on where the Bally’s team is currently focused in 2025, having said,  “As we close out 2024 and begin 2025, our team is working diligently across multiple fronts to optimize our cost structure, enhance the efficiency of our operations, adopt certain best practices from Queen and set the stage for significant long-term value creation.

“Bally’s 2.0 is very well positioned to deliver enhanced value for all of our stakeholders that are invested in the Company’s future and we look forward to reporting on our successes in the coming quarters and years.”

While Reeves and Glover seem to have a positive outlook on the results, Bally’s only saw year-over-year growth in revenue from its North America Interactive segment, which increased by 58% from the prior year period for a total revenue of $177.9m during FY2024. Throughout the fourth quarter of 2024, North America Interactive revenue grew by 24.4% year-over-year to $41.5m. 

Good to know: Greater Good Charities and Bally Bet collaborated to donate one million meals to shelter pets in need throughout the NFL season

Revenue from the company’s Casino & Resorts and International Interactive segments both decreased year-over-year during Q4 2024, falling by 5.2% and 9.1%, respectively, to account for $324.4m and $214.5m of revenue throughout the period. 

For FY2024, Casinos & Resorts generated nearly $1.4bn of revenue for Bally’s and the International Interactive segment produced $909.5m during the period. While the Casinos & Resorts figure represents a decrease of less than $200 from what was reported for FY2023, International Interactive revenue decreased by 6.5% year-over-year throughout FY2024. 

Bally’s adjusted EBITDAR during FY2024 was reported to be $614.5m, representing a decrease of 5.9% year-over-year. Casinos & Resorts generated $370.5m of adjusted EBITDAR while International Interactive accounted for $336.5m, but North America Interactive and Corporate & Other both reported negative adjusted EBITDAR of $40.2m and $52.2m, respectively, for FY2024.

During the fourth quarter of 2024, the company’s adjusted EBITDAR decreased by 14.1% from the prior year period, having generated just under $138.3m for the period. Casinos & Resorts and International Interactive reported nearly the same adjusted EBITDAR for Q4 2024, as Casinos & Resorts accounted for $80.9m during the period, while International Interactive reported a total of $81.6m. North America Interactive and Corporate & Other reported negative adjusted EBITDAR for Q4 2024 as well, bringing the total down by $12.3m and $11.8m, respectively. 

Bally’s stated that The Queen Casino & Entertainment’s four properties generated a Q4 revenue of $57.6m and a FY2024 revenue of $225.2m. 

Kirk Geller

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