In its newly published financial results for the quarter ending September 30, 2024, Bally’s has revealed its consolidated revenue reached US$629.974m, down 0.4 per cent on the Q3 2023 figure of $632.477m.
The revenue from North America Interactive segment was up at $45.679m from $29.567m the previous year, but international interactive revenues were down at $230.937m from $243.884m, and revenue from casinos and resorts was $353.358m, down from $359.026m.
Net loss for the quarter was $247.855m against a loss of $61.802m in Q3 2023. Adjusted EBITDAR was $166.333m.
“During the quarter, we secured a critical $940m construction and financing arrangement with Gaming & Leisure Properties (“GLPI”) which positions the company to move forward with the construction of our flagship permanent casino in the heart of downtown Chicago, America’s third largest city,” said Robeson Reeves, Bally’s CEO.
“Early in the fourth quarter, we also completed the controlled demolition of the Tropicana hotel towers in Las Vegas, moving the A’s one step closer to the start of stadium construction and allowing Bally’s to plan for the broader redevelopment of the site.
“Upon completion, the Chicago and Las Vegas development projects feature unique positioning in their respective markets and represent two attractive additions to our portfolio that we expect will drive positive shareholder returns.
“Casino and resorts revenue of $353m in the quarter reflects the generally stable domestic regional gaming environment, although we saw flow-through decline relative to the prior year period. Results at our Chicago Temporary Casino have moderated to a somewhat consistent monthly level and we are focused on running our Chicago operations with database growth in mind.
“In Rhode Island, local bridge construction continues to disrupt traffic during peak periods which again impacted visitation and revenues at our flagship Lincoln property. In Atlantic City, previously noted turnover in our relationship marketing team had an adverse impact on results in the quarter which included the second half of the market’s all-important summer season. Primarily reflecting these impacts, and lower-than-expected hold in Kansas City, third quarter segment adjusted EBITDAR declined 15 per cent year-over-year.”
