Bally's Corporation Reports $657.5 Million Revenue with Increased Net Loss Following Merger

Bally's Corporation reported a total revenue of $657.5 million for the three months ended June 30, 2025, marking a 6% increase from $621.7 million in the same period of the previous year. The company's gaming revenue was $557.6 million, while non-gaming revenue reached $99.9 million. However, Bally's recorded a net loss of $228.4 million for the quarter, compared to a net loss of $60.2 million in the prior year. The significant loss was attributed to increased operating costs and expenses, which totaled $659.9 million, up from $616.1 million in the previous year.

The financial performance reflects a notable shift following the merger with Queen Casino & Entertainment, which was completed on February 7, 2025. This merger added four casinos to Bally's portfolio, contributing approximately $61.3 million to total revenues for the quarter. The company also reported a substantial increase in general and administrative expenses, which rose to $298.2 million from $252.4 million year-over-year, largely due to costs associated with the integration of Queen's operations and the merger agreement.

Operationally, Bally's has expanded its footprint, now managing 19 casinos across 11 states and one casino in the UK. The company has also increased its investment in technology and interactive gaming, with a focus on enhancing customer experiences. As of June 30, 2025, Bally's had a total employee headcount of approximately 60,686, reflecting the integration of Queen's workforce. The company continues to pursue growth opportunities in the iGaming sector, which it views as a significant strategic focus for future revenue generation.

Looking ahead, Bally's has announced plans to enter into a definitive transaction agreement with Intralot S.A., which is expected to close in the fourth quarter of 2025. This transaction is anticipated to enhance Bally's position in the international interactive gaming market. The company is also committed to investing in its existing properties, including a $100 million investment in its Rhode Island operations and ongoing development of the Bally's Chicago permanent facility, which is projected to open in 2026. Despite the current financial challenges, Bally's management remains optimistic about the long-term growth potential of its diversified gaming and entertainment offerings.