The CEO of Bally’s Corporation, Robeson Reeves, declared the company’s UK operations gave a considerable boost to the company’s newly released Q1 2024 figures.
On a consolidated basis, revenues in the first quarter grew 3.3 per cent year-on-year to US$618.5m, with a revenue from casinos and resorts of $342.3m, up 4.1 per cent. Adjusted EBITDAR was $148.1m.
“Bally’s is off to a solid start in 2024, driven by revenue growth in our casinos and resorts and North America Interactive segments,” said Reeves. “While International Interactive revenues fell 4.4 per cent year-over-year in the aggregate, our core UK interactive operations grew revenues 12 per cent - seven per cent on a constant currency basis - as our strategies play out reflecting the initiatives we adopted in contemplation of the white paper implementation in the UK. On a consolidated basis, revenues in the first quarter grew 3.3 per cent year-over-year to $618.5m.
“Casinos and resorts revenues rose 4.1 per cent year-over-year inclusive of the contribution from the Chicago Temporary Casino and the winding down of the Tropicana Las Vegas. Adjusted EBITDAR for the segment declined, due to the impact of weather in January and adverse hold in several markets.
“Furthermore, construction to the Providence Bridge in Rhode Island impacted access to our largest casinos and resorts profit center at Twin River, and we also saw an impact from the continued deleveraging of operations after announcing the pending shut-down of the Tropicana.”
Marcus Glover, Bally’s chief financial officer, concluded: “Our financial results for the first quarter of 2024 demonstrate the strength of our diversified business segments. Bally’s operating teams remain focused on reducing expenses and enhancing operating efficiency.
“We are evaluating all business areas and implementing initiatives to streamline or centralise operations where it makes sense. Overall, we made progress on several of these initiatives in the first quarter and are looking forward to the promising opportunities that lie ahead."
