Bally’s Q3 Revenue Hits $808 Million, Casino Projects Face Delays

Bally’s Corporation reported $807.6 million in preliminary Q3 2026 revenue, up 21.7% year-on-year, with Intralot driving much of the growth. However, construction delays, financing challenges and regulatory problems continue to affect several major casino investments.

Good to know

• Bally’s Q3 revenue reached $807.6 million, while adjusted EBITDAR increased 2% to $179.6 million.
• Projects in Chicago and Las Vegas face construction and financing challenges, while the $4 billion Bronx casino secured $560 million in funding.
• Intralot B2B and B2C revenue reached $333.9 million, up 55%, although combined adjusted EBITDAR fell 3%.

Bally’s Secures Bronx Funding as Chicago Casino Plans Change

Bally’s has secured $560 million from WhiteHawk Capital Partners for its planned $4 billion Bronx casino in New York. The financing includes $400 million in immediate funding and another $160 million available through future draws.

The company expects Bally’s Bronx to open in 2030. The project received a boost after several competing New York casino bidders withdrew, while its focus on community investment helped its licence application.

Chicago presents a different challenge.

The $1.8 billion permanent casino will now open in 2027 after missing its original September 2026 target. Illinois lawmakers granted a 12-month extension to the temporary casino licence.

Meanwhile, Chicago City Council approved video gaming terminals, prompting Bally’s to reconsider around 12% of the development.

Construction work on certain non-gaming facilities has paused, although the casino, event centre, required restaurants and bars, and 100 hotel rooms remain scheduled for completion.

“Investors should view our actions through a straightforward lens: We are protecting the value of significant investments we’re making in Chicago while faithfully executing our contractual obligations,” Chairman Soo Kim said in September.

Gaming and Leisure Properties (GLPI), which has committed nearly $1 billion to the Chicago development, remains confident in the project.

Las Vegas Stadium Plans Face Funding Questions

In Las Vegas, Bally’s has made limited progress on its proposed $1.19 billion resort development beside the future Athletics baseball stadium.

Uncertainty over financing has prompted discussions about alternative infrastructure arrangements.

GLPI President Brandon Moore said the company could provide between $200 million and $250 million, subject to unresolved commercial agreements between Bally’s and the Athletics.

With no agreement reached, Athletics senior adviser Sandy Dean said the baseball team is “needing to have a contingency plan”.

The Las Vegas Stadium Authority has also reviewed the situation as construction of the neighbouring MLB stadium continues.

Intralot Drives Bally’s Q3 Revenue Growth

Despite the construction difficulties, the latest financial figures show stronger revenue across several business divisions.

Combined Intralot B2B and B2C revenue increased 55% to $333.9 million. However, adjusted EBITDAR from those divisions declined 3% to $89.1 million.

North America Interactive revenue climbed 25% to $62.6 million, while adjusted EBITDAR losses narrowed from $6 million to $3.1 million.

The Casinos & Resorts division generated $408.6 million, up 3%, helped by the landside relocations of the Baton Rouge and Marquette casinos. Revenue also benefited from the acquisition of Sam’s Town Shreveport and activity at the temporary Chicago casino.

Casino adjusted EBITDAR remained largely unchanged at approximately $107 million.

“Our development projects remain on track, our execution is improving results across every segment, and market conditions remain stable as we head into the fourth quarter and 2027,” CEO Robeson Reeves said.

Bally’s expects to request another filing extension from the Securities and Exchange Commission before submitting its complete third-quarter financial report.

The preliminary results remain subject to adjustment, meaning the company has yet to provide its full quarterly financial position. Shares fell approximately 4% on Tuesday to $11.47, leaving the stock down 31% for 2026.

Star Entertainment Faces $178 Million Australian Penalty

Outside the United States, Bally’s faces further complications through Star Entertainment, where it acquired a controlling stake for $138 million in late 2025.

Australian authorities imposed an A$260 million (US$178.5 million) penalty over historical anti-money laundering failures.

Star Sydney also remains without an active casino licence, with New South Wales regulators extending its suspension until June 30, 2027.

The operator exited its Brisbane joint venture amid financial difficulties and now operates Star Sydney and Star Gold Coast.

However, Bally’s reported improved revenue trends at both properties during the final quarter of the Australian financial year.

“The circumstances at The Star today are materially different from when we first became involved,” Soo Kim said.

The Australian situation also carries a wider regulatory lesson. Casino ownership changes do not automatically resolve historical compliance failures, and regulators can maintain licence restrictions while operators work to improve anti-money laundering controls.

FAQ

How much revenue did Bally’s report in Q3 2026?

Bally’s reported preliminary revenue of $807.6 million, representing 21.7% year-on-year growth, primarily supported by Intralot and North America Interactive.

When will Bally’s Chicago casino open?

The permanent $1.8 billion Chicago casino is now scheduled to open in 2027, following construction delays and changes to certain non-gaming plans.

How much funding has Bally’s secured for its Bronx casino?

The company secured $560 million from WhiteHawk Capital Partners, including $400 million immediately available and $160 million in future funding.

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