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US – Bally’s retail casino revenue hits record high

By - 5 November 2021

Bally’s financial results for the third quarter saw retail casino revenue reach a record high of $301.6m.

This accounts to a net income of $49.4m versus $22.1m for the comparable period in 2020, whilst adjusted retail casinos EBITDAR equated to $106.5m versus $43.5m.

Lee Fenton, Chief Executive Officer, commented: “This quarter, retail casinos had $301.6m of revenue and $106.5m of adjusted retail casinos EBITDAR. The quarter was negatively impacted by approximately $6m of losses related to natural disasters, including two hurricanes and wildfires in Nevada.

Overall revenue was $314.8m, an increase of $198.2m, or 169.9 per cent, year over year. Net loss was $14.7m compared to net income of $6.7 million for the comparable period and adjusted EBITDA was $78m, an increase of $40m.

“North America interactive sales doubled from last quarter at $11.4 million, with adjusted EBITDA of $5.5m, which was in line with our expectations,” continued Mr. Fenton. “Adjusted EBITDA for the company of $78.0m includes $11.4m of rent expense and $11.1m of corporate expense.”

Having completed the acquisition of Gamesys on October 1, Gamesys revenue was $278.6m – a record high on a constant currency basis – with net loss and adjusted EBITDA of $8.7m and $83.8m respectively.

“On October 1, 2021, Bally’s completed its transformational acquisition of Gamesys Group – a strategic combination that further advances Bally’s global, data-driven, omni-channel strategy,” added Mr. Fenton.

“As a result, our business is evolving from a regional casino operator into an industry leader in retail, sports, media and iGaming, which will see us harness a set of assets that provides a formidable platform for growth as a digital-first leader in global gaming entertainment.”

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