Home Economy Economic Activity Bally’s Q1 loss narrows to $16.5M after merger

Bally’s Q1 loss narrows to $16.5M after merger

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PBN Staff

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05/13/2025

Photographer — BALLY’S CORP. on Tuesday reported a loss of $16.5 million in the first quarter of 2025, compared with a $173.9 million loss reported the year prior. / PBN FILE PHOTO/MICHAEL SALERNO

PROVIDENCE – Bally’s Corp. on Tuesday reported a loss of $16.5 million in the first quarter of 2025 that ended March 31, compared with a $173.9 million loss reported the year prior. Total revenue for the post-merger period from Feb. 8, 2025, to March 31, 2025, with The Queen Casino & Entertainment and Standard General

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PROVIDENCE – Bally’s Corp. on Tuesday reported a loss of $16.5 million in the first quarter of 2025 that ended March 31, compared with a $173.9 million loss reported the year prior. Total revenue for the post-merger period from Feb. 8, 2025, to March 31, 2025, with The Queen Casino & Entertainment and Standard General and the pre-merger period from Jan. 1, 2025, to Feb. 7, 2025, was $589.2 million. That was 14% lower than the $618.5 million in revenue reported a year prior. The company, which owns Rhode Island's two casinos, Bally’s Twin River Lincoln Casino Resort and Bally’s Tiverton Casino & Hotel, reported a consolidated loss for the quarter of 48 cents per diluted share compared to a loss of $3.61 per diluted share in the first quarter of 2024. “Early in the 2025 first quarter we completed a series of transactions with The Queen Casino & Entertainment and Standard General which has further expanded our scale and positioned the company for compelling long-term growth as we added four regional gaming properties with attractive growth opportunities,” Bally’s CEO Robeson Reeves said. “Following the completion of these transactions, Bally’s expanded its domestic gaming portfolio and is deploying a range of best operating practices from both our legacy properties and Queen’s operations. "These initiatives are focused on driving operating efficiencies, profitable top line growth and improving operating margins while we simultaneously focus on growing our International Interactive business and optimizing the results of our North America Interactive segment,” Reeves said. Consolidated casinos and resorts revenue grew 2.6% year over year to $351.2 million. “There continued to be stability in the domestic regional gaming environment in the first quarter, but inclement weather and increased supply in a few of our regional markets offset the growth generated by the addition of the Queen assets,” Reeves said. “The team has overcome some traffic impacts in Rhode Island through marketing interventions, the Chicago temporary facility continues to fine tune its operations and build its data base in anticipation of the opening of the permanent facility, and we expect improvements in Atlantic City based on recent leadership changes. Despite the competitive landscape, during the first quarter, Bally’s legacy properties outpaced market growth in seven of 12 jurisdictions.” North America Interactive revenue grew 12.5% year over year to $44.5 million, reflecting the addition of the Queen interactive business in the post-merger period and continued ramp of the Rhode Island interactive business, which benefited in part from the capture of spend by players impacted by the Washington Bridge construction issues affecting the brick-and-mortar operations in the state, and the benefit of contributions from Queen’s interactive operations, Reeves said. UK online revenue grew 4.9% year over year, while overall International Interactive revenue declined 18.3% from the first quarter of 2024 to $191.7 million due to the divestiture of the Asia interactive business. “Our International Interactive operations are primarily focused on regulated European markets that continue to demonstrate solid growth characteristics and deliver attractive margins," Reeves said. "Excluding revenue from ... divested markets and licensing revenue recognized, International Interactive revenue grew 7.7% year over year.”