Bally’s Corporation reported a 0.1% increase in yearly revenue to $2.45 billion in its financial results for the fourth quarter for FY2024. However, Q4 sales, which came to $580.4 million, decreased 5.1% from the previous year. Notably, throughout the quarter, online revenue in the UK increased by 11.3%.
CEO Robeson Reeves highlighted the company’s ongoing transformation, saying, “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.”
Additionally, he mentioned recent deals with Standard General and The Queen Casino & Entertainment, which he thinks would improve the business’s prospects for expansion.
Segment Performance and EBITDAR Decline
Bally’s saw divergent patterns in each of its business divisions. With a 58% year-over-year increase in revenue to $177.9 million in FY2024, the North America Interactive division drove growth. The segment’s revenue in Q4 increased by 24.4% to $41.5 million.
Other divisions, though, had difficulties. In Q4, International Interactive’s revenue fell 9.1% to $214.5 million, while Casino & Resorts’ sales fell 5.2% to $324.4 million. Casino & Resorts earned around $1.4 billion for the entire year, while International Interactive earned $909.5 million, a 6.5% decrease from FY2023.
Adjusted EBITDAR fell 5.9% year-over-year to $614.5 million. Casinos & Resorts contributed $370.5 million, while International Interactive accounted for $336.5 million. North America Interactive and Corporate & Other segments posted negative EBITDAR of $40.2 million and $52.2 million, respectively.
CFO Marcus Glover emphasized Bally’s focus on efficiency in 2025, stating, “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.”
Looking ahead, Bally’s expects strategic investments and acquisitions to drive future success.
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