Bally’s Corporation has posted its Q3 financial results, with revenue having climbed further as the casino segment thrives amongst other markets.
The company, which operates 19 casinos across 11 states along with online sports betting operations, reported revenue of $663.7 million, which represents an increase of 5.4% year over year.
The Casino and Resorts revenue, however, saw a major 12.1% rise year over year, amounting to $396.1 million. Within the report, the gambling-based company highlighted that its casinos which operate in a stable competitive environment outpaced market revenue growth in the third quarter.
The Adjusted EBITDAR results were particularly strong at the properties in Vicksburg, Kansas City, and the Queen Baton Rouge, where the 2023 landside relocation is said to be continuing to drive market share gains. The completion of the landside conversion of Bally’s Baton Rouge (formerly Belle of Baton Rouge) is expected in the fourth quarter.
In the same quarter, the UK market has seen success with online revenue growing 8.0%. The ‘continued strength’ in the UK operations is said to be driven by strong player monetization and additional revenue-driving initiatives like the launch of a sports betting offering. The International Interactive revenue declined 6.9% to $215.1 million, but this was said to be solely due to the divestiture of the Asia interactive business in 2024.
What is to come for Bally’s Corporation in the future?
Bally’s has a number of projects upcoming, with the CEO Robeson Reeves, providing an update: “Domestically, construction remains in full swing at our permanent gaming and entertainment destination resort in Chicago.
“The resort – the only casino within Chicago’s city limits, will feature approximately 3,400 slots, over 170 table games, a 500-room hotel tower, a 3,000-seat theater, various food and beverage venues and a river-side public park.”
In September, the Bally’s Bronx Community Advisory Committee approved an application for a proposed $4 billion casino which will see a 16-acre integrated resort with around 3,500 slot machines and 250 table games, a 500-room hotel and a 2,000-person event center. “This proposal represents the largest private investment in the borough’s history, with the potential to generate meaningful economic benefits and significant job creation in the community,” the CEO said.
“Bally’s is now one of three remaining applicants for up to three downstate New York state gaming licenses with a decision anticipated by year’s end. We are both excited for, and committed to, the opportunity to serve the Bronx community.”
The company has also recently unveiled plans to develop Bally’s Las Vegas on the former Tropicana site, sharing a 35-acre campus with the Las Vegas Athletics. However, little was mentioned about its prospects as the city faces a tourism slump.
Featured Image: Bally’s Las Vegas rendering courtesy of Marnell Companies
