Bally’s Q1 2025 revenue falls 4.7% to $589.2m, International Interactive decreases 18.3%

Bally’s Corporation has released its financial results for the first quarter of 2025, with total company revenue having fallen by 4.7% year-over-year to $589.2m, primarily driven by a 18.3% decrease witnessed from its International Interactive segment from the prior year period. 

International Interactive reported a Q1 2025 revenue of $191.7m, impacted by the operator’s divestiture of Asia interactive business throughout 2024. Bally’s Casino & Resorts and North America Interactive segments were able to generate increases in revenue year-over-year, however, reporting totals of $351.2m and $44.5m, respectively, for growth of 2.6% and 12.5%. 

The operator stated, when excluding the impact of Asia interactive business divestiture, International Interactive revenue was able to increase 7.7% year-over-year for Q1 2025, while UK online revenue increased by 4.9% from the prior year period. 

Casino & Resorts adjusted EBITDAR for the first quarter of 2025 was reported to be $95.1m, representing an increase of 6.3% year-over-year. 

Overall International Interactive adjusted EBITDAR fell by 7.7% from the prior year period for a total of $77.1m, as operations were said to now focus primarily on regulated European markets that continue to demonstrate solid growth characteristics and deliver attractive margins.

“Early in the 2025 first quarter we 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 as we added four regional gaming properties with attractive growth opportunities,” Bally’s CEO Robeson Reeves said. 

“Following the completion of these transactions, Bally’s expanded its domestic gaming portfolio and is deploying a range of best operating practices from both our legacy properties and Queen’s operations. These initiatives are focused on driving operating efficiencies, profitable top line growth and improving operating margins while we simultaneously focus on growing our International Interactive business and optimizing the results of our North America Interactive segment.”

Good to know: Bally’s Chicago announced on April 24 as part of a Securities and Exchange Commission filings some expanded ownership opportunities that would give preference to City of Chicago and Illinois residents

During the first quarter of 2025, Bally’s committed to a strategic capital investment in Star Entertainment Group, an Australian entertainment and gaming company currently operating casino and resort properties in Sydney, Brisbane and the Gold Coast. 

“Bally’s AUD $200m investment consists of a multi-tranche convertible note and subordinated debt instrument that, upon conversion, could result in Bally’s owning approximately 38% of Star. Bally’s funded AUD $67m of the investment in April, with funding of the remainder subject to various approvals,” Reeves said. 

“The opportunity to take a significant equity stake in Star and influence its future is consistent with Bally’s historical operating strategy and we are confident and optimistic that, similar to past situations, we can deploy our disciplined operating and financial practices to strengthen Star and create new value for Bally’s shareholders.”

Following the release of Bally’s Q1 2025 report, the operator reported a share price of $11.21 per share, down 0.03% from opening at $11.47 per share on May 12. Volume of shares for Bally’s was also reported to be 60,263 shares, down nearly 0.3% at the time of writing.

Kirk Geller

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