February 24, 2022 Legal, Online, Land Based

Bally’s Corporation: Q4 revenue climbs to $547.7m

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Net revenue last year almost tripled compared to the year before, reaching $1.32bn.

Bally's Corporation has released its financial results for Q4 and the 2021 full year. Both its quarterly and annual figures reflect company growth and progress.

Fourth quarter revenue climbed to $547.7m, while the company’s adjusted EBITDA reached $119.4m. The adjusted EBITDA margin was 21.8% for Q4, jumping almost four percentage points from the previous quarter.

Bally’s had a net loss of $115.3m during the fourth quarter, compared to its net income of $20.2m from the prior quarter.

Yearly figures were favorable for the company. During 2021, adjusted EBITDA reached $119.4m, representing an increase of $98.4m year over year. The adjusted EBITDA margin rose almost seven percentage points compared to last year, hitting 25.2% for 2021.

The company’s 2021 net revenue climbed to $1.32bn, more than tripling the previous year’s figures. Though the company experienced a net loss of $71.9m for 2021, this year yielded $93.3m in net income from its operations.

CEO Lee Fenton said: "Our quarterly results represent the first full quarter of the consolidated Bally's group including our Casinos & Resorts, International Interactive and North America Interactive segments. During the quarter, we made significant progress on integration of our acquired assets, defining our strategic goals for 2022 and deploying capital strategically including progress in growth projects in Lincoln, Atlantic City and Kansas City. Additionally, we repurchased $87m of our common shares during the quarter."

Bally's projects the end-of-year revenue for 2022 to fall in the range of $2.4bn to $2.5bn and adjusted EBITDA in the range of $560m to $580m. The projection is based on current company expectations.

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