CEO Robeson Reeves highlighted progress in Bally’s major initiatives in Chicago and Las Vegas
Bally’s Corporation has shared its financial results for the third quarter of 2024 showing a small drop in revenue but keeping its market strength amid ongoing growth and hurdles.
Bally’s Reports $630M Q3 Revenue, Highlights Growth Amid Mixed Regional Results
The casino and entertainment company reported total revenue of $630 million for the three months ending September 30, a slight 0.4% fall compared to the same period in 2023. This small decrease shows Bally’s steady performance during a time with mixed results across regions and continuing expansion.
Segment-specific data showed revenue from the Casinos & Resorts division dropped by 1.6% reaching $353.4 million. The North American Interactive segment experienced a big jump of 54.5% compared to last year amounting to $45.7 million. The International Interactive division saw a decline of 5.3% bringing in $230.9 million. However, the UK segment grew well increasing by 11.8% because more users got involved and each user brought in more money on average.
CEO Robeson Reeves pointed out advancements in Bally’s key projects in Chicago and Las Vegas. The company got $940 million to build its long-term casino in downtown Chicago and has started getting ready. It is tearing down the Tribune site, which shows it is set to start building in 2025. The short-term casino at Medinah Temple, which opened last year, has seen 1.3 million people come through its doors. It is also built up a list of over 113,000 customers, which helps Bally’s position in the city.
Bally’s Envisions a Bright Future with New Casino Development and Major Investments
In Las Vegas, the company is planning its future casino on the Tropicana site after the old hotel towers came down in a controlled demolition. This project goes hand in hand with the construction of a $1.5 billion, 33,000-seat baseball stadium for the Athletics. Bally’s wants to open some of its casino facilities by the time the team starts playing in 2028. The site will have a 90,000-square-foot gaming area, 1,500 slot machines, and hotel rooms that will be built step by step.
Despite a net loss of about $248 million for the quarter, Reeves felt hopeful about Bally’s future. He based this on growth in North American operations and smart moves in the UK.
These moves included buying Asper’s Casino Newcastle to combine its online and land-based gaming services. CFO Marcus Glover recognized some problems in Rhode Island. There, traffic issues hurt the main Lincoln property’s results. The Atlantic City casino struggled due to staff changes in the marketing team, which affected summer season outcomes.
