For the quarter ended March 2024, Bally's Corporation (BALY) reported revenue of $618.48 million, up 3.3% over the same period last year. EPS came in at -$3.26, compared to -$0.74 in the year-ago quarter.The reported revenue represents a surprise of -0.69% over the Zacks Consensus Estimate of $622.76 million. With the consensus EPS estimate being -$1.13, the EPS surprise was -188.50%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to W ...

Bally's Corporation (BALY) came out with a quarterly loss of $3.26 per share versus the Zacks Consensus Estimate of a loss of $1.13. This compares to loss of $0.74 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -188.50%. A quarter ago, it was expected that this hotel casino operator would post a loss of $0.55 per share when it actually produced a loss of $0.86, delivering a surprise of -56.36%.Over the last four quarters, the ...

Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the securities laws. Forward-looking statements are statements as to matters that are not historical facts and include statements about Bally’s Corporation’s (“Bally’s”) plans, objectives, expectations and intentions. Forward-looking statements are not guarantees and are subject to risks and uncertainties. Forward-looking statements are based on Bally’s current expectations and assumptions. Although Bally’ ...

[Bally's Corporation Q1 2024 Earnings Release](index=1&type=section&id=BALLY%27S%20CORPORATION%20ANNOUNCES%20FIRST%20QUARTER%202024%20RESULTS) Bally's Corporation announces its first quarter 2024 results, detailing financial and operational performance, segment contributions, and reaffirmed full-year guidance [Financial & Operational Highlights](index=1&type=section&id=First%20Quarter%202024%20Financial%20Highlights) Bally's Corporation reported a 3.3% revenue increase to $618.5 million, driven by Casinos & Resorts and North America Interactive, resulting in a $173.9 million net loss compared to prior year's gain Q1 2024 Financial Summary (vs. Q1 2023) | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | Change | | :--- | :--- | :--- | :--- | | **Consolidated Revenue** | **$618.5** | **$598.7** | **+3.3%** | | Casinos & Resorts Revenue | $342.3 | $328.8 | +4.1% | | International Interactive Revenue | $234.7 | $245.6 | -4.4% | | North America Interactive Revenue | $41.5 | $24.4 | +70.2% | | **Net (Loss) Income** | **($173.9)** | **$178.3** | **N/A** | | **Adjusted EBITDAR** | **$148.1** | **N/A** | **N/A** | - Successfully launched iGaming in Rhode Island as the sole provider[2](index=2&type=chunk) - Closed the Tropicana Las Vegas on April 2nd to prepare for the Las Vegas A's stadium development on a portion of the site[2](index=2&type=chunk)[7](index=7&type=chunk) [Management Commentary & Segment Performance](index=1&type=section&id=Management%20Commentary%20%26%20Segment%20Performance) Management reported a solid start to 2024 with revenue growth in Casinos & Resorts and North America Interactive, while International Interactive's decline was a strategic shift towards profitability [Casinos & Resorts](index=1&type=section&id=Casinos%20%26%20Resorts) The Casinos & Resorts segment revenue grew 4.1% driven by the Chicago Temporary Casino, though Adjusted EBITDAR declined due to weather, adverse hold, and Tropicana wind-down - Segment revenue grew **4.1% YoY**, driven by the Chicago Temporary Casino[4](index=4&type=chunk) - Adjusted EBITDAR declined due to January weather, adverse hold, reduced access to the Twin River, RI property, and the Tropicana Las Vegas wind-down[4](index=4&type=chunk) - The Chicago Temporary Casino is showing positive results with month-over-month revenue improvement in Q1, driven by enhanced VIP amenities and improved property access[6](index=6&type=chunk) - The Tropicana Las Vegas officially closed on April 2nd, with demolition planned for later in the year to make way for the Las Vegas A's stadium[7](index=7&type=chunk) [International Interactive](index=1&type=section&id=International%20Interactive) International Interactive revenue decreased 4.4% to $234.7 million due to a strategic shift prioritizing profit, yet Adjusted EBITDAR grew 4.0% with strong UK performance International Interactive Q1 Performance | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | Change | | :--- | :--- | :--- | :--- | | Revenue | $234.7 | $245.6 | -4.4% | | Adjusted EBITDAR | $83.5 | $80.3 | +4.0% | - The revenue decline reflects a strategic shift to maximize profit yield instead of pursuing uneconomic growth, leading to challenging YoY comparisons[5](index=5&type=chunk) - Core UK interactive operations grew revenues by **12%** (**7%** on a constant currency basis) due to market share gains[3](index=3&type=chunk)[5](index=5&type=chunk) - The company anticipates benefits in Spain from the removal of advertising restrictions and plans to launch online sports betting (OSB) in the UK[5](index=5&type=chunk) [North America Interactive](index=2&type=section&id=North%20America%20Interactive) North America Interactive revenue surged 70.2% to $41.5 million, driven by market share gains in New Jersey and Pennsylvania, and the successful iGaming launch in Rhode Island North America Interactive Q1 Performance | Metric | Q1 2024 (in millions) | Q1 2023 (in millions) | Change | | :--- | :--- | :--- | :--- | | Revenue | $41.5 | $24.4 | +70.2% | | Adjusted EBITDAR | ($10.2) | ($10.6) | +3.8% | - Successfully launched iGaming in Rhode Island in early March, with revenues ramping up as expected through April[6](index=6&type=chunk) - iGaming operations in New Jersey and Pennsylvania continue to gain market share[6](index=6&type=chunk) [Corporate Strategy](index=2&type=section&id=Corporate%20Strategy) Bally's is committed to improving financial performance through disciplined cost management, streamlining, and centralizing operations to enhance efficiency - Bally's operating teams are focused on reducing expenses and enhancing operating efficiency by streamlining and centralizing operations[7](index=7&type=chunk) [2024 Guidance](index=2&type=section&id=2024%20Guidance) Bally's Corporation reaffirmed its full-year 2024 guidance, projecting revenues between $2.5 billion and $2.7 billion and Adjusted EBITDAR between $655 million and $695 million Full-Year 2024 Guidance (Unchanged) | Metric | Guidance Range | | :--- | :--- | | Revenue | $2.5 billion to $2.7 billion | | Adjusted EBITDAR | $655 million to $695 million | - Guidance incorporates the impact of the Tropicana Las Vegas closure, the ramp-up of the Chicago Temporary Casino, growth in International Interactive, and the new iGaming operations in Rhode Island[8](index=8&type=chunk) [Financial Statements & Reconciliations](index=3&type=section&id=Financial%20Statements%20%26%20Reconciliations) This section provides unaudited condensed consolidated financial statements for Q1 2024, including statements of operations, GAAP to non-GAAP reconciliations, segment performance, and selected balance sheet and cash flow data [Condensed Consolidated Statements of Operations](index=5&type=section&id=CONDENSED%20CONSOLIDATED%20STATEMENTS%20OF%20OPERATIONS) Bally's reported Q1 2024 total revenues of $618.5 million, with a $74.0 million operating loss and $173.9 million net loss, primarily due to a prior-year sale-leaseback gain Q1 2024 Statement of Operations Highlights | Line Item | Q1 2024 (in millions) | Q1 2023 (in millions) | | :--- | :--- | :--- | | Total Revenue | $618.5 | $598.7 | | Total operating costs and expenses | $692.4 | $222.0 | | *Gain from sale-leaseback, net* | *$—* | *($374.2)* | | (Loss) income from operations | ($74.0) | $376.7 | | Interest expense, net | ($73.1) | ($63.3) | | **Net (loss) income** | **($173.9)** | **$178.3** | | **Diluted (loss) earnings per share** | **($3.61)** | **$3.24** | [Reconciliation to Adjusted EBITDA & EBITDAR](index=6&type=section&id=Reconciliation%20to%20Adjusted%20EBITDA%20%26%20EBITDAR) Bally's reconciled its Q1 2024 net loss of $173.9 million to Adjusted EBITDA of $116.5 million and Adjusted EBITDAR of $148.1 million, with an Adjusted EBITDA margin of 18.8% Q1 2024 Reconciliation from Net Loss to Adjusted EBITDAR | Line Item | Q1 2024 (in millions) | | :--- | :--- | | Net (loss) income | ($173.9) | | Interest expense, net | $73.1 | | Provision for income taxes | $31.4 | | Depreciation and amortization | $159.7 | | Other adjustments (restructuring, transaction costs, etc.) | $25.1 | | **Adjusted EBITDA** | **$116.5** | | Rent expense associated with triple net operating leases | $31.6 | | **Adjusted EBITDAR** | **$148.1** | [Segment Performance Data](index=7&type=section&id=Segment%20Performance%20Data) In Q1 2024, Casinos & Resorts led with $342.3 million revenue and $89.4 million Adjusted EBITDAR, followed by International Interactive, while North America Interactive reported a $10.2 million Adjusted EBITDAR loss Q1 2024 Revenue and Segment Adjusted EBITDAR | Segment | Revenue (in millions) | Adjusted EBITDAR (in millions) | | :--- | :--- | :--- | | Casinos & Resorts | $342.3 | $89.4 | | International Interactive | $234.7 | $83.5 | | North America Interactive | $41.5 | ($10.2) | | Other | N/A | ($14.7) | | **Total** | **$618.5** | **$148.1** | [Selected Balance Sheet & Cash Flow Data](index=8&type=section&id=Selected%20Balance%20Sheet%20%26%20Cash%20Flow%20Data) As of March 31, 2024, Bally's reported $169.4 million in cash and $3.68 billion in long-term debt, with Q1 capital expenditures of $28.1 million Balance Sheet Data | Item | March 31, 2024 | December 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents (in millions) | $169.4 | $163.2 | | Long-term debt, including current portion (in billions) | $3.68 | $3.66 | Cash Flow Data | Item | Q1 2024 (in millions) | | :--- | :--- | | Capital expenditures | $28.1 | | Cash paid for capitalized software | $13.6 | [About Bally's Corporation & Disclosures](index=4&type=section&id=About%20Bally%27s%20Corporation%20%26%20Disclosures) Bally's Corporation is a global casino-entertainment company managing 15 casinos and interactive gaming platforms, pursuing growth through new developments, with this report containing forward-looking statements - Bally's currently owns and manages **15 casinos** across **10 states**, with approximately **15,000 slot machines**, **550 table games**, and **3,900 hotel rooms**[14](index=14&type=chunk)[15](index=15&type=chunk) - Future projects include a permanent casino in Chicago and a land-based casino in State College, PA, which will bring the total to **16 casinos** across **11 states**[15](index=15&type=chunk) - The press release includes a standard cautionary note regarding forward-looking statements, advising that actual results may differ materially from projections[16](index=16&type=chunk)

Atlantic City, NJ, April 17, 2024 (GLOBE NEWSWIRE) -- Bally's Atlantic City is thrilled to commemorate its 45th Anniversary by introducing a range of new amenities and special offerings designed to enhance the guest experience. Building upon the successful completion of over $100 million in renovations in the summer of 2022, Bally's is excited to announce additional improvements that will take the customer experience to new heights. These enhancements are aimed at providing guests with even more exciting an ...

In this articleBALYAn exterior view shows the Tropicana Las Vegas at dusk on March 29, 2024 in Las Vegas, Nevada. David Becker | Getty ImagesAs the famous Tropicana in Las Vegas closes its doors Tuesday, its operator Bally's Corporation is facing its own existential battle. At stake: ownership, its status as a publicly traded company and its highest-profile projects.Bally's Chairman Soo Kim and Standard General, the private equity fund he founded, last month made a bid to take the company private at $15 per ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-38850 | --- | --- | --- | --- | --- | |-----------------------------|-------|-------|-------------------------------|-------| | | | | | | | Exchange Act. | | | | | | ...

PROVIDENCE, R.I.--(BUSINESS WIRE)--The Board of Directors of Bally’s Corporation (NYSE: BALY) today announced that it has formed a special committee of independent and disinterested directors that is authorized, among other things, to evaluate the preliminary, non-binding proposal, dated March 11, 2024, by Standard General to acquire all of the outstanding shares of Bally’s that it does not already own for $15.00 in cash per share, as well as any potential strategic alternatives to the proposal. A copy of ...

Key TakeawaysBally's Corp. shares took off Monday, soaring almost 30%, after hedge fund Standard General made a new bid to take over the casino operator.Standard General offered $15 per share for Bally's, a 41% premium from Friday's closing price and above Monday's $13.64 close.The hedge fund had made a $38-a-share bid for the company in January 2022, which was rejected. Bally’s Corp. (BALY) shares skyrocketed almost 30% after hedge fund Standard General offered to buy the rest of the shares of the casino o ...

Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the securities laws. Forward-looking statements are statements as to matters that are not historical facts and include statements about Bally’s Corporation’s (“Bally’s”) plans, objectives, expectations and intentions. Forward-looking statements are not guarantees and are subject to risks and uncertainties. Forward-looking statements are based on Bally’s current expectations and assumptions. Although Bally’ ...