Bally’s Corporation is riding a wave of momentum, posting a lively 5.8% revenue increase to $657.5 million in Q2, propelled by its thriving Casinos & Resorts and U.K. online operations. Despite shedding its Asia interactive business last year, the company’s strategic moves are paying off, with a sharp focus on high-growth markets and bold expansion plans signaling a dynamic future.
Casinos & Resorts Steal the Show
The Casinos & Resorts segment roared ahead with a 14.7% revenue spike to $393.3 million, fueled by the February acquisition of four regional properties from The Queen Casino & Entertainment. This move has supercharged Bally’s footprint, blending seamlessly into its portfolio and driving robust performance. Meanwhile, North America Interactive revenue soared 21.5% to $56.5 million, flipping from a $2.2 million loss to a $2.5 million adjusted EBITDAR profit—a turnaround that screams operational savvy.
International Interactive: A Mixed Bag with Bright Spots
The International Interactive segment saw a 10.2% revenue dip to $206.1 million, largely due to the Asia exit. But strip that away, and the picture brightens: a 10% growth surge, powered by an 8.8% rise in U.K. online revenue and steady gains in Spain, where relaxed marketing rules have opened new doors. This resilience highlights Bally’s knack for navigating choppy global waters.
Big Bets on the Future
CEO Robeson Reeves is all in on “Bally’s 2.0,” a transformation that’s gaining serious traction. The company is doubling down with blockbuster projects like a permanent Chicago resort—think 3,400 slots, 170+ table games, a 500-room hotel, and a 3,000-seat theater. Then there’s the audacious $4 billion Bronx casino proposal, which could become the largest private investment in the borough’s history if Bally’s snags a coveted New York City gaming license. Talk about swinging for the fences!
Strategic Power Plays
Bally’s isn’t just playing the game—it’s rewriting the rules. In July, it inked a €2.7 billion ($3.14 billion) deal to sell its International Interactive business to Intralot S.A., a Greek lottery and gaming tech giant. This cash-and-stock transaction, set to close in Q4, will make Bally’s the majority shareholder of Intralot while boosting liquidity and tackling 2028 debt. Reeves called it “transformative,” blending Bally’s gaming and data prowess with Intralot’s lottery expertise.
On top of that, Bally’s dropped AUD $200 million ($133 million) for a strategic stake in Australia’s Star Entertainment Group, with an eye on owning up to 38%. This move underscores Bally’s strategy of snapping up underperforming operators and turning them into value-generating machines.
What’s Next?
Bally’s Q2 performance is a masterclass in balancing growth and reinvention. The company’s aggressive push into new markets, coupled with high-stakes divestitures and investments, positions it as a heavyweight contender in the global gaming arena. If the Bronx casino and Chicago resort come to life, Bally’s could redefine entertainment in those cities. For now, the numbers speak loud and clear: Bally’s is betting big, and the payoff looks promising.
