Bally's (US:BALY)2023-11-01 18:14Financial Performance - Casinos & Resorts revenues increased by 9% year-over-year (y/y) in 3Q23, driven by growth in Rhode Island, Kansas City, Black Hawk, and Quad Cities[6, 30] - International Interactive revenue grew by 7% y/y in 3Q23 in USD[16, 31] - North America Interactive (NAI) revenue increased by 34% in 3Q23[31] - International Interactive margins improved to 35%, a 150 bps y/y increase[6, 16, 32] - Total Adjusted EBITDAR for 3Q23 was $173 million, a 6% increase[32] - The company is guiding for full-year 2023 total revenues of $24 billion to $25 billion and Adjusted EBITDAR of $640 million to $655 million[33] Business Developments - The temporary casino in Chicago opened on September 9th, with strong customer feedback[7] - The Kansas City redevelopment project was completed in mid-September[7] - Bally Bet OSB was rolled out in 4 states[7, 26] - Bally's UK is estimated to hold approximately 15% share of the iGaming market and is a slot operator with approximately 17% share[16] Strategic Initiatives - The permanent Chicago Casino remains on schedule for a 2026 opening[8] - The Oakland A's of MLB will relocate onto 9 acres of the LV Tropicana site[8] - North America Interactive iGaming continues its growth momentum with strength in New Jersey and Pennsylvania[6, 22, 24]