Bally's Corporation reported its financial results for the first quarter of 2025, revealing a total revenue of $368.7 million, a significant decrease from $618.5 million in the same period last year. The decline is attributed to a 5% drop in overall revenue, with the newly acquired Queen Casino contributing $34.7 million to the total. The company experienced a net income of $34.5 million for the Successor period from February 8, 2025, to March 31, 2025, compared to a net loss of $51.0 million in the Predecessor period and a loss of $173.9 million in the same quarter of 2024.
In terms of operational performance, Bally's saw a 3% increase in revenue from its Casinos & Resorts segment, primarily due to the contribution from the Queen acquisition, despite adverse weather conditions impacting operations. The International Interactive segment, however, faced a 22% decline in revenue, largely due to the sale of parts of its international interactive business in Asia. The North America Interactive segment reported a slight increase in revenue, reflecting a stable performance in a competitive market.
Strategically, Bally's completed its merger with Queen Casino & Entertainment on February 7, 2025, which expanded its geographic footprint and enhanced its development pipeline. The merger was accounted for as a transaction between entities under common control, resulting in a significant increase in total assets to $7.49 billion from $5.86 billion at the end of 2024. The company also reported a substantial increase in its employee headcount, reflecting the integration of Queen's operations.
Bally's financial outlook remains cautious, with management highlighting the ongoing challenges posed by market conditions, including rising interest rates and inflation. The company is focused on integrating its recent acquisitions and enhancing its interactive gaming offerings. Looking ahead, Bally's plans to continue investing in its properties and expanding its market presence, particularly in the online gaming sector, which is seen as a key growth area. The company maintains a capital return program with $95.5 million available for share repurchases, although no repurchases were made during the reporting period.
About Bally's Corp
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