Bally’s Corp reports record $314.8m in revenue for Q3 amid Gamesys acquisition
Bally’s Corporation has reported a record-setting $314.8m in revenue for Q3 2021, rising by $198.2m for a 170% increase year-on-year.
The American gaming giant saw significant growth in Q3, with its retail casinos segment bringing $301.6m in revenue for an all-time quarterly high, or $106.5m in Adjusted EBITDAR, exceeding Q3 2020’s $43.5m figure.
This all came despite several natural disasters, including two hurricanes and wildfires in Nevada, negatively impacting Bally’s earnings to the tune of $6m. Moreover, sales from its North America Interactive division doubled from last quarter to $11.4m.
In addition, the company acquired software development firm Gamesys on 1 October after they reached an agreement in April that would see Bally’s pay $25.46 per share. Gamesys also experienced record-setting revenue in Q3 at $278.6m, though it’s results are not included in Bally’s most recent quarterly report. However, according to Lee Fenton, the company’s CEO, they will be from Q4 2021.
“On 1 October 2021, Bally’s completed its transformational acquisition of Gamesys Group — a strategic combination that further advances Bally’s global, data-driven, omni-channel strategy,” remarked Fenton.
“As a result, our business is evolving from a regional casino operator into an industry leader in retail, sports, media and iGaming, which will see us harness a set of assets that provides a formidable platform for growth as a digital-first leader in global gaming entertainment.
“Gamesys had record revenue and Adjusted EBITDA on a constant currency basis for the quarter, which will be consolidated into Bally’s results starting with the fourth quarter.”
Bally’s Q3 results come during a big push from the company to expand its position in the US, having recently submitted a bid for a casino licence in Chicago.
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