PROVIDENCE – Bally’s Corp. on Thursday reported its year-end loss widened to $425.5 million in 2022, or $7.42 per diluted share.
The hotel casino operator reported an updated 2021 loss of $11.4 million, or $2.31 cents per share.
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The company, which owns Twin River Casino and Bally’s Tiverton, reported revenue of $2.25 billion in 2022, compared to $1.32 million the year prior.
Gaming revenue was up in 2022. Bally’s took in $1.8 billion compared to $1.05 billion in 2021. Nongaming revenue rose to $409 million, compared to $268 million in 2021.
“As previously reported in our preliminary release of these financial results, we are pleased to have achieved record results in both our Casinos & Resorts and International Interactive segments,” said Bally’s incoming CEO and President Robeson Reeves. “We remain committed to taking a deep dive approach in North America to ensure that investments we make in sports have a near-term path to profitability. In iCasino states, we’ve increased our market share in both New Jersey and Ontario as we integrate this business in a scalable way.”
On Feb. 13, Bally’s released preliminary 2022 financial results that showed a $414.8 million loss for the year.
The company Thursday also reported a fourth-quarter loss of $497.5 million, after reporting $115.3 million loss in the same period a year earlier.
The hotel casino operator posted revenue of $576.6 million in the fourth quarter of 2021 compared to $547.7 million the year prior.
On a per-share basis, Bally’s reported a loss of $8.87 in the fourth quarter of 2022, compared to a loss of $1.87 per share the year prior.
