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PROVIDENCE, R.I. - Bally’s Corporation (NYSE:BALY) reported fourth quarter revenue that missed analyst estimates as the casino operator faced challenges across several markets.
The company posted revenue of $580.4 million for Q4 2024, down 5.1% YoY and below the consensus estimate of $610.63 million. Casinos & Resorts revenue declined 5.2% to $324.4 million, while International Interactive revenue fell 9.1% to $214.5 million.
North America Interactive was a bright spot, with revenue increasing 24.4% to $41.5 million. However, the segment still recorded an Adjusted EBITDAR loss of $12.3 million for the quarter.
"Fourth quarter revenue performance in our C&R segment reflects our ongoing work to unify our regional gaming portfolio, efforts which will accelerate now that the four Queen assets have been added to our business, as well as lingering pockets of relative weakness in certain portions of our geographic reach," said George Papanier, Bally’s President.
The company noted particular challenges at its Chicago temporary casino, which remains below expectations, as well as visitation issues in Rhode Island due to ongoing bridge construction. Atlantic City performance was also impacted by turnover in the relationship marketing team.
On a positive note, Bally’s U.K. online revenue grew 11.3% YoY. The company also highlighted progress on growth initiatives, including breaking ground on its permanent Chicago casino and completing demolition at the former Tropicana site in Las Vegas.
Bally’s recently completed transactions with Standard General and The Queen Casino (EPA:CASP) & Entertainment, adding four new properties to its portfolio. Management expressed optimism that these deals will position the company for "compelling long-term growth" as it expands its geographic footprint.
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