Bally's Corporation reported total revenue of $2.45 billion for the fiscal year ending December 31, 2024, a marginal increase of 0.1% compared to $2.45 billion in 2023. The company's gaming revenue rose by 3% to $2.05 billion, driven primarily by the inclusion of the Bally’s Chicago temporary casino, which contributed approximately $96.5 million. However, this was partially offset by a decline in revenue from the Tropicana Las Vegas property, which closed in April 2024, resulting in a revenue decrease of about $77.8 million. The company experienced a net loss of $567.8 million, significantly higher than the $187.5 million loss reported in the previous year, largely due to increased impairment charges and a decline in operational performance.
In terms of operational changes, Bally's completed several strategic initiatives, including the acquisition of The Queen Casino & Entertainment, which added four properties to its portfolio. The company also launched the Bally Bet Casino iGaming app in Rhode Island, expanding its interactive gaming presence to 13 U.S. states and Ontario, Canada. Additionally, Bally's executed a $940 million financing arrangement with Gaming & Leisure Properties for the construction of its permanent casino in Chicago, with construction expected to commence in early 2025. The company also divested parts of its international interactive business, resulting in a pre-tax loss of approximately $27.8 million.
Bally's reported a total employee count of approximately 10,000 as of December 31, 2024, with 3,442 employees covered under collective bargaining agreements. The company continues to focus on enhancing customer engagement through its Bally Rewards loyalty program, which aims to unify rewards across its casino and interactive platforms. The company’s international operations, particularly in the UK, contributed significantly to its revenue, with approximately 28% of total revenue derived from international markets.
Looking ahead, Bally's management expressed cautious optimism regarding future growth, emphasizing the importance of expanding its interactive gaming segment and enhancing customer experiences at its physical properties. However, the company acknowledged potential risks, including economic uncertainties, regulatory challenges, and the competitive landscape in the gaming industry. The management's outlook remains contingent on the successful execution of its strategic initiatives and the overall recovery of the gaming market.
About Bally's Corp
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