Bally’s Corporation ended 2024 on a mixed note, reporting a 5.1% year-on-year decline in fourth-quarter revenue, totaling $580.4 million. Meanwhile, full-year revenue remained largely flat at $2.45 billion, showing a marginal increase from 2023, according to financial results released on March 5, 2025.
The dip in Q4 revenue was mainly driven by a 5.2% drop in the Casinos & Resorts segment, which brought in $324.4 million, and a 9.1% decline in International Interactive revenue to $214.5 million. Meanwhile, Bally’s North America Interactive division emerged as a bright spot, with revenue increasing by 24.4% to $41.5 million for the quarter.
Bally’s Chief Executive Officer Robeson Reeves
Amid these financial results, Bally’s Chief Executive Officer Robeson Reeves explained the company’s major strategic initiatives throughout 2024, describing the year as “transformational and transitional.”
Key developments included the start of construction on the permanent Chicago casino, the demolition of the Tropicana in Las Vegas, and the completion of the company’s July buyout from hedge fund Standard General (SG). As part of the deal, Bally’s was merged with Queen Casino and Entertainment, also owned by SG.
Implosion of Tropicana
“The ‘new’ Bally’s 2.0 is a dynamic global land-based and online casino operator with attractive growth pipelines in U.S. gaming,” Reeves said. The addition of the four Queen Casino properties, which generated $57.6 million in Q4 revenue, is expected to enhance Bally’s domestic gaming portfolio.
“We continue to gain strong customer support for our igaming and sports product offerings which we believe will result in positive long-term performance from this segment,” Reeves said.
The Casinos & Resorts segment’s adjusted EBITDAR declined 14.6% to $80.9 million in Q4, reflecting higher costs and performance challenges at specific properties. The temporary Chicago casino continued to underperform, while the Lincoln property in Rhode Island faced reduced visitation due to local bridge construction.
The Atlantic City property was also impacted by turnover in its marketing team. On a positive note, Kansas City showed strong performance, benefiting from a new high-limit room.
Bally’s international interactive business experienced mixed results. U.K. revenue increased by 11.3%, driven by strong player retention and revenue optimization efforts.
However, the segment’s overall decline was influenced by the divestiture of Bally’s Asian interactive business, which led to a shift in revenue reporting to a licensing model. Reeves pointed out that excluding the divested markets, international revenue would have seen a 12.9% increase.
The North America Interactive segment, while showing a 24.4% revenue boost, reported an adjusted EBITDAR loss of $12.3 million. Platform transition challenges affected short-term performance, but Bally’s remains optimistic about this segment’s long-term potential.
Bally Bet
The launch of the Monopoly Casino app in New Jersey and the expansion of Bally Bet’s online sports betting platform in Tennessee were highlighted as key growth drivers. Bally’s Chief Financial Officer Marcus Glover stated the company’s strategy to streamline costs and adopt best practices from recent acquisitions to enhance long-term value creation.
“As we close out 2024 and begin 2025, our team is working diligently across multiple fronts to optimise 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.”
Original article: https://www.yogonet.com/international/news/2025/03/06/97277-ballys-faces-revenue-dip-in-q4-fullyear-results-largely-flat-in-34transitional-34-2024
