PROVIDENCE – Bally’s Corp. on Monday reported a loss of $161.9 million in the first quarter of 2026 that ended March 31.
In the 2025 first quarter, Standard General merged Bally’s into The Queen Casino & Entertainment after Bally’s shareholders approved the New York-based hedge fund’s buyout offer in November 2024.
Bally's reported a $34.5 million profit during the post-merger period from Feb. 8, 2025, to March 31, 2025, and a loss of $51 million during the pre-merger period from Jan. 1, 2025, to Feb. 7, 2025.
For the first quarter of 2026, Bally’s reported a loss of $2.69 per diluted share, compared to the 57 cents profit per diluted share during the post-merger period and $1.05 loss per diluted share during the pre-merger period.
The quarterly loss was attributed to strategic refinancing costs, heavy debt servicing and noncash asset adjustments.
This included a one-time $63.4 million loss for an early extinguishment of debt that stemmed from a $1.1 billion term loan agreement the company entered in February when it completed the leaseback of the Twin River Lincoln Casino Resort.
The transaction completed a previously announced $725 million deal with Gaming and Leisure Properties Inc., which includes $620 million in revolving credit from Bally’s lenders that was approved in September.
Bally’s said in September that it plans to use the cash from the lease back deal to pay off loans and notes and reduce its secured debt by about $500 million and cut its available credit line to about $574 million.
This restructuring drove quarterly net interest expenses to a loss $109.9 million
The company, which owns Rhode Island’s two casinos, Bally’s Twin River Lincoln Casino Resort and Bally’s Tiverton Casino & Hotel, posted revenue of $755.7 million in the first quarter of 2026 compared to $368.6 million during the 2025 first-quarter post-merger period and $220 million during the pre-merger period.
“We delivered solid first-quarter results across the enterprise and continue to make progress on growing and diversifying our global footprint, delivering on operational synergies and strengthening our balance sheet,” said Bally’s CEO Robeson Reeves. “We believe economic conditions in areas where we operate remain stable and are confident in our ability to leverage our operational expertise and capital resources to deliver on our highly anticipated growth projects.”
Casinos & Resorts revenue increased 8.1% year over year since the 2025 post-merger period to $379.7 million, reflecting the addition of the Queen Casino & Entertainment properties.
North America Interactive segment revenue rose 35.9% year over year since the 2025 first-quarter post-merger period, reflecting wagering revenue growth across all verticals.
Bally's Intralot B2C revenue increased 31% year over year since the post-merger period to $239.9 million, driven by strong performance in the UK, as well as the addition of Intralot's B2C business. In October Bally’s acquired Greek-based gaming company, Intralot S.A., in a cash and stock deal valued at about $3.18 billion.
