Home Economy Economic Activity Bally’s sees Q2 losses widen to $228M

Bally’s sees Q2 losses widen to $228M

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PBN Staff

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08/12/2025

BALLY’S CORP. posted a second-quarter loss of $228 million, widening the $60 million deficit it reported a year ago before finalizing its merger with The Queen Casino & Entertainment.

PROVIDENCE – Bally’s Corp. posted a second-quarter loss of $228 million, widening the $60 million deficit it reported a year ago before finalizing its merger with The Queen Casino & Entertainment. The company, which is based in Providence and operates Rhode Island’s two casinos, on Monday reported a loss of $3.76 per diluted share after

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PROVIDENCE – Bally’s Corp. posted a second-quarter loss of $228 million, widening the $60 million deficit it reported a year ago before finalizing its merger with The Queen Casino & Entertainment. The company, which is based in Providence and operates Rhode Island’s two casinos, on Monday reported a loss of $3.76 per diluted share after reporting a loss of $1.24 per share the year prior. Revenue totaled $657 million, up from $621 million in the same quarter a year ago. Casinos and resorts revenue of $393.3 million rose 14.7% year over year, primarily reflecting the addition of four regional gaming properties from The Queen Casino & Entertainment earlier in 2025. In July 2024, Bally’s agreed to accept a buyout offer from hedge fund Standard General L.P. in a deal that valued the casino operator at $4.6 billion. The hedge fund merged Bally’s into the regional casino chain The Queen Casino & Entertainment – a Standard General affiliate – on Feb. 7. “Our second quarter results reflect milestone achievements and marked progress on our continued business transformation as the new Bally’s 2.0,” said Bally’s CEO Robeson Reeves. “Construction is in full swing at our permanent gaming and entertainment destination resort in Chicago. The resort will feature approximately 3,400 slots, 170-plus table games, a 500-room hotel tower, 3,000-seat theater, 10 food and beverage venues and a river-side public park.” Revenue for the company’s North American Interactive segment rose 21.5% year over year to $56.5 million. The company said this reflects the addition of the Queen interactive business and strong growth in from both iGaming and online sports betting. “We are currently live with iGaming in New Jersey, Pennsylvania, Rhode Island and Ontario,” the company stated in its 10-K report. “The BallyBet sports offering is live in 13 states, including New Jersey and Ontario, as we continue to focus on productive marketing and optimizing our cost structure.” Bally's Corp. also said Monday it expects to close the sale of its international interactive business to a Greek-based gaming company, Intralot S.A. in the third quarter. The cash and stock deal, reached on July 2, is valued at about $3.18 billion. Following the transaction, Bally’s said it will become the majority shareholder of Intralot, while the cash proceeds are expected to enhance Bally’s liquidity and significantly reduce its 2028 secured debt. “This transaction is transformative for Bally’s as we unite our outstanding gaming and data technology with Intralot’s exceptional expertise in lottery,” Reeves said. “Together, we are creating a unique proposition that will pave the way for a new era of innovation and growth across the entire gaming spectrum.”