PROVIDENCE – Bally’s Corp. posted a profit of $68.9 million in the second quarter, a turnaround from a loss of $23.6 million one year prior, the company said Monday.
Earnings per diluted share were $1.40, compared with a loss of 77 cents per share in the second quarter of 2020.
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Revenue totaled $267.7 million, an increase from $28.9 million one year prior, during the height of the pandemic.
“We had record revenue and earnings performance in the quarter and remain confident that we will continue to benefit from rebounding demand across our land-based portfolio,” Bally’s CEO and President George Papanier said in a statement. “Improved consumer confidence, minimal capacity restrictions and our disciplined operating strategy all contributed to extremely strong numbers across the board in the second quarter.”
Providence-based Bally’s also noted that during the quarter it had closed the purchase of Bet.Works, a sports betting platform and that it is in the process of combining Bet.Works, now called Bally’s Interactive, with other previous acquisitions, including Monkey Knife Fight and SportCaller, and its online and mobile sports betting operation Mile High USA. The company also said that the combination will include Gamesys Group PLC, pending the completion of its acquisition of the company.
“The closing of the Bet.Works acquisition was another significant step in our evolution to become a leading omnichannel provider,” said Papanier. “We continue to make progress on our transformative acquisition of Gamesys and look forward to closing that transaction during the fourth quarter.”
The company has undergone an expansion in recent years. It now has over 6,000 employees, owns and operates 14 casinos across 10 states and has significant online and mobile operations.
