Bally's (US:BALY)2025-11-10 21:26Revenue Performance - Total revenue for Q3 2025 was $663.7 million, a 5.4% increase from $630.0 million in Q3 2024[5] - Total revenue for the three months ended September 30, 2025, was $663,716,000, a significant increase from $220,498,000 in the same period of 2024, representing a growth of 200%[26] - Total revenue for the nine months ended September 30, 2025, was $1,932,318,000, down from $2,037,763,000 in the same period of 2024, indicating a decrease of 5.2%[29] - The pro forma combined revenue for the nine months ended September 30, 2025, was $1,932,318,000, reflecting the merger of Bally's and Queen, which provides a baseline for future comparative results[28] Segment Performance - Casinos & Resorts revenue reached $396.1 million, up 12.1% year over year, driven by the addition of four regional gaming properties from Queen[14] - Adjusted EBITDAR for Casinos & Resorts segment reached $107,920,000 for the three months ended September 30, 2025, compared to $23,554,000 in the same period of 2024, marking an increase of 358%[26] - Adjusted EBITDAR for the nine months ended September 30, 2025, was $314,456,000 for Casinos & Resorts, compared to $339,597,000 in the same period of 2024, a decline of 7.4%[29] - International Interactive revenue was $215.1 million, a decline of 6.9% year over year, primarily due to the divestiture of the Asia interactive business[7] - International Interactive revenue for the three months ended September 30, 2025, was $215,085,000, up from $78,985,000 in the same period of 2024, reflecting a growth of 172%[26] - North America Interactive revenue increased by 13.1% year over year to $49.9 million, reflecting growth in Rhode Island and strong online sports betting performance[16] Acquisitions and Strategic Initiatives - Bally's completed the acquisition of Intralot S.A. for €2.7 billion, resulting in a 58% ownership interest in Intralot[6] - The combined entity of Bally's International Interactive and Intralot is expected to generate approximately €1.1 billion in annual revenue with EBITDA margins exceeding 39%[8] - Cost-savings programs implemented post-Intralot acquisition are expected to yield over $15 million in annual savings[9] - Bally's aims to enhance its global presence as a gaming, lottery, and entertainment operator through strategic initiatives and capital resource management[13] Capital Expenditures and Financial Position - Long-term debt as of September 30, 2025, was $3,742,071,000, an increase from $3,318,773,000 as of December 31, 2024, representing a rise of 12.7%[31] - Capital expenditures for the nine months ended September 30, 2025, totaled $130,155,000, compared to $155,757,000 in the same period of 2024, a decrease of 16.5%[32] - Cash and cash equivalents as of September 30, 2025, were $160,689,000, down from $171,233,000 as of December 31, 2024, a decline of 6.5%[31] Development Projects - Bally's is developing a $4.0 billion casino in the Bronx, which is anticipated to create significant economic benefits and job opportunities[11] - Construction of a permanent gaming and entertainment resort in Chicago is underway, featuring approximately 3,400 slots and a 500-room hotel[10] Licensing Revenue - The company recognized $4,838,000 in licensing revenue for the three months ended September 30, 2025, compared to $3,720,000 in the same period of 2024, an increase of 30.2%[42]