Bally’s Corporation announces record-breaking revenue amid Gamesys acquisition
Retail casinos saw record revenue of $301.6m.
Bally’s Corporation has today announced the company’s financial results for the period ending September 30, 2021.
Q3 has seen the operator earn record revenue of $314.8m, a year-on-year increase of 170% or $198.2m.
While revenue was high, the group recorded a net loss of $14.7m, compared to a net income of $6.7m found in the last comparable period. Meanwhile, Bally’s retail casinos earned record numbers, bringing in revenue of $301m and a net income of $49.4m.
Adjusted EBITDA increased by $40m year-on-year, coming in at $78m.
These results come in the context of Bally’s acquisition of the UK-based gaming company Gamesys Group. Lee Fenton, CEO of Bally’s, highlighted the move when speaking on the company’s Q3 results.
He said: “On October 1, 2021, Bally’s completed its transformational acquisition of Gamesys Group – a strategic combination that further advances Bally’s global, data-driven, omni-channel strategy.
“As a result, our business is evolving from a regional casino operator into an industry leader in retail, sports, media and iGaming, which will see us harness a set of assets that provides a formidable platform for growth as a digital-first leader in global gaming entertainment.”
In regard to Gamesys, the newly acquired company saw record revenue in Q3, coming in at $278.6m. Other highlights include the entering of a credit agreement for senior secured credit facilities consisting of a $1.95bn senior secured first term loan.
Bally’s currently owns and manages 14 casinos across 10 states as well as a racetrack in Colorado. The organization is also licensed to operate online sports betting in 15 states.
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