PROVIDENCE – Bally’s Corp. reported a $14.7 million loss in the third quarter of 2021, or 30 cents per diluted share, a decline from a $6.7 million profit one year prior, or 22 cents per diluted share, the company said Thursday.
Quarterly revenue totaled $314.7 million, an increase from $116.6 million one year prior. Of the total revenue for the quarter, $227.6 million was from gaming revenue.
The Providence-based casino and gaming company has undergone a massive transformation in recent years, driven by acquisitions of both casino properties and online gaming and betting platforms.
The company noted that it had completed its multibillion-dollar acquisition of Gamesys Group on Oct. 1., one day after the close of the third quarter. Gamesys is an online software development and gaming business.
The acquisition of Gamesys “further advances Bally’s global, data-driven, omni-channel strategy,” Bally’s CEO Lee Fenton said. “As a result, our business is evolving from a regional casino operator into an industry leader in retail, sports, media and iGaming, which will see us harness a set of assets that provides a formidable platform for growth as a digital-first leader in global gaming entertainment.”
Fenton was previously the leader of Gamesys but took on the role of CEO of Bally’s following the acquisition.
Bally’s says it now has roughly 10,000 employees.
Acquisitions, integration and restructuring costs in the third quarter totaled $6.8 million in the quarter, compared with $2.7 million one year prior. Advertising, general and administrative costs rose $98 million year over year to $142.9 million.
The company also said it experienced $6 million of losses related to natural disasters, including two hurricanes and wildfires in Nevada.
The company recently announced that it had submitted a bid to operate Chicago’s only casino license and to build a $1.6 million casino, venue and hotel complex.
