Bally’s up 20.5 per cent with growth ‘across the enterprise’

Casinos up two per cent with growth in Chicago and in Quad Cities

Bally’s Corp. generated revenue of $792.2m in its second quarter, marking an increase of 20.5 per cent year-over-year. The group’s casinos were up two per cent to $401m, benefiting from the landside move of Bally’s Baton Rouge and Bally’s Marquette, as well as strong growth at Bally’s temporary Chicago facility.

Casinos also saw solid growth in the company’s properties in Quad Cities, partially offset by elevated competition impacting Atlantic City and East Saint Louis. The overall portfolio recorded 4.3 per cent growth in rated visitation, reflecting the company’s ‘ability to effectively engage and drive database performance.’ The casinos segment Adjusted EBITDAR grew 3.4 per cent year-over-year to $109.6m, reflecting the second quarter 2026 revenue increase, partially offset by the allocation of approximately $1.6m of additional shared services costs from corporate to casinos & resorts to better align with the business structure.

Second quarter 2026 Bally’s Intralot B2C revenue reflected continued strength in the company’s UK operations. UK online revenue rose 11.6 per cent in constant currency versus the second quarter of 2025, driven by organic growth and a strong player base. During the quarter, Bally’s mitigated the impact of the UK gaming tax increase through top-line growth and disciplined cost reductions. Revenues in Spain delivered robust 15.1 per cent year-over-year growth in constant currency, driven by an increase in new player volumes. Year-over-year growth in the Bally’s Intralot B2C segment was further supported by the inclusion of Intralot’s B2C business (sports betting in Turkey) starting in the fourth quarter of 2025.

Revenue for Bally’s North America Interactive segment of $66.1m rose 16.9 per cent year-over-year in the second quarter with Segment Adjusted EBITDAR of $3m, a $0.5m improvement over the prior year. The business continues to demonstrate healthy, sustainable growth, with strong momentum across the US and Canada.

Robeson Reeves, Bally’s Chief Executive Officer, commented: “We delivered solid second-quarter results across the enterprise, and I am proud of the hard work and dedication of our team members as we move into the next phase of Bally’s omni-channel growth. We generated 20 per cent consolidated year-over-year revenue growth driven by 22 per cent growth in Bally’s Intralot B2C, 17 per cent growth in North America Interactive, and two per cent growth in our Casinos & Resorts business, reflecting stable regional performance. As we look to the second half of 2026, our execution is creating revenue tailwinds both domestically and internationally, generating multiple levers to improve profitability, and building a solid foundation for long-term shareholder returns.

“Domestically, we are making substantial progress on our development projects. Construction of Bally’s Chicago continues as we target opening of the permanent casino in early 2027. In Las Vegas, Major League Baseball’s Las Vegas Athletics are rapidly advancing construction on their new stadium, with completion slated before the start of the team’s 2028 season opening. At the same time, we are actively progressing the development of the retail, entertainment and dining complex. We are in advanced negotiations with potential partners for exciting retail and entertainment offerings, and look forward to updating the market on our plans as the project progresses.

“We were thrilled to receive a Gaming Facility License from the New York State Gaming Commission at the end of last year. Bally’s has already made substantial investments in the project, including the $500 million license fee and $115 million golf course concession contingent payment, both of which were made in the first quarter of 2026. The $4.0 billion Bally’s Bronx integrated casino project is expected to open by 2030 and will feature 3 million square feet of gaming facilities, a 500-room hotel, a 2,000-person event center, and an 18-hole world-class golf course. We are actively raising additional capital for the further development and construction of the project and have substantial interest from potential partners for both project debt and equity financings. In July, we signed a non-binding term sheet for a pre-construction loan for Bally’s Bronx, and in August we entered into a letter of intent with a potential equity investor.

“North America Interactive was a standout in the second quarter. Revenue grew 16.9% year-over-year to $66.1 million, and Segment Adjusted EBITDAR rose to $3.0 million as profitability growth outpaced the top line increase. The customer-focused and automation initiatives Sina Miri and his team have put in place over the past year are now showing up in both financial metrics. On a second quarter run-rate, this is a digital business generating over $250 million of annualized revenue that is contributing positively at the segment level.

“On the international interactive side, our Bally’s Intralot B2C segment achieved solid performance in the second quarter of 2026, which was the first quarter to reflect the UK gaming tax increase from 21% to 40% (effective April 1, 2026). Against that backdrop, our top line in the UK continues to strengthen as constant currency year-over-year growth accelerated from 10.5% in the first quarter to 11.6% in the second quarter, and that momentum has carried into July when we saw year-over-year growth of approximately 13.0%. Importantly, we have delivered this quarter-on-quarter growth acceleration without incremental marketing spend – a real testament to the strength of our player base, product offering and the team behind it. The gross negative impact of the UK gaming tax change on our B2C segment EBITDAR was approximately $39 million in the quarter. We have been able to offset close to 65% of this impact through top-line growth and disciplined cost control, with our marketing reductions still to begin as planned into the second half. We remain firmly on track against the margin management commitments we previously disclosed to investors.

“It is worth flagging that market consolidation in the UK has not moved quite as quickly as we originally expected. We see that as an opportunity still ahead of us rather than a concern, particularly as smaller operators come under increasing pressure post-World Cup and through the fall tax season. We are already delivering double-digit growth ahead of that consolidation, which gives us confidence in our position.

“On the lottery side, we are making deliberate investments as we win and renew contracts, several of which are landing together at the same time. In April, we announced the award of a 15-year electronic gaming machine monitoring license in Victoria, Australia and a new contract of up to 12 years with the State Lottery of Chile. In May, we announced a new contract with Hellenic Lotteries in Greece, and in June, we were selected by OLG (Ontario Lottery & Gaming Corporation) as its new lottery technology solution provider. We are bringing in the right leadership and technology capability, including utilizing expertise from the legacy Gamesys business, to optimize the service and technology we deliver for our lottery partners.

“In June, we announced our binding offer to acquire evoke plc, with regulatory approvals from the relevant competition and gaming authorities currently underway. Our accomplishments during the quarter strengthen our confidence in the value we can create together. The same playbook of cost discipline and organic growth translates directly to a business of evoke’s scale and customer reach.

“In summary, our strategic initiatives are creating a highly scaled, growing, global omni-channel provider of retail and online experiences and we are aggressively pursuing and executing on the many growth opportunities before us.”