May 2, 2024 3 min read


Bally’s Q1 Financials: Losses Offset Favorable Revenue

Bally’s also posted its FY 2024 guidance, saying that it expects full-year revenue of between $2.5 billion and $2.7 billion

Bally’s Corporation has published its Q1 results, reporting what CEO Robeson Reeves called a “solid start” to the year. Unfortunately, the favorable performance across several segments was offset by a loss of $173.9 million, triggering a decline in the company’s share price.

For Q1, Bally’s reported company-wide revenue of $618.5 million, representing an increase of 3.3% year-on-year. Revenue from the casinos & resorts segment, on the other hand, increased by 4.1% to $342.3 million.

Additionally, the company reported $234.7 million in international interactive revenue, marking a decline of 4.4% year-on-year. In North America, however, Bally’s interactive revenue skyrocketed by 70.2% to $41.5 million.

Yet, the company ended the quarter with a loss of $173.9 million because of a decrease in income and an increase in costs. For context, Bally’s posted a net win of $178.3 million in Q1 2023.

Adjusted EBITDAR for the period increased by 4% year-on-year to $148 million, despite the lower prior period revenue comps.

Bally’s also posted its FY 2024 guidance, saying that it expects full-year revenue of between $2.5 billion and $2.7 billion. The company also expects adjusted EBITDAR in a range of $655 million to $695 million.

These results reflect the closure of the Tropicana and the continued ramp of the Chicago temporary casino, as well as the revenue ramp from the expansion of Bally’s iGaming operations.

The Company Is Optimistic about Its Position

Despite the financial setback, CEO Robeson Reeves remained convinced that the metrics represent a solid start to 2024 and praised the performance of the company’s casino & resorts and NA interactive segments.

Reeves regretted the slight decline in international interactive revenue but noted that the company’s digital operations in the UK experienced a growth of 12%. He is also optimistic about the company’s future in Spain following the recent lifting of certain advertising restrictions.

Reeves also noted that the company’s casino performance was bolstered by the popularity of its temporary casino in Chicago.

Marcus Glover, Bally’s chief financial officer, also commented on the company’s financials.

Our financial results for the first quarter of 2024 demonstrate the strength of our diversified business segments. Bally’s operating teams remain focused on reducing expenses and enhancing operating efficiency.

Marcus Glover, CFO, Bally’s

Glover added that the company is evaluating all business areas and implementing initiatives to streamline or centralize operations “where it makes sense.” He concluded that his team has made good progress on several of these initiatives.

In the meantime, CEO Reeves commented on the company’s Chicago casino, saying that it should open on time despite the financial struggles.


Angel has a passion for all forms of writing, be it fiction or nonfiction. His curious nature gives him an ace up his sleeve when researching a new topic. Angel’s thirst for knowledge, paired with adaptability, always helps him find his way around.

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