Published
OnlineCasinoFinancialIndustryResults

Bally’s generates $2.3bn in revenue for FY2022

Bally’s has announced FY2022 revenue of $2.3bn, after generating $576.7m for Q4. Its full-year results were up 73% year-on-year, although Q4 results were only up 5% by comparison.  

ballys fy2022
Listen To Article

The fourth quarter of 2022 saw Bally’s record a net loss of $487.5m, greater than their overall losses for the year which stood at $425.5m.  

The company attributes these losses to a non-cash goodwill and asset impairment charge of $464m paid out in the fourth quarter. 

Elsewhere, adjusted EBITDA for Q4 was at $145.8m and $548.5m for the full year, while adjusted EBITDAR for Q4 stood at $164.4m and $601.8m for 2022.  

Bally’s incoming CEO and current President of its Interactive division, Robeson Reeves, said: “We are pleased to have achieved record results in both our Casinos & Resorts and International Interactive segments.  

“Our core businesses continue to generate fantastic cash flows. UK revenue grew 12% organically in the fourth quarter as regulations continue to play through, while in December, Asia saw positive year-over-year organic growth, proving that our initiatives to maintain a competitive advantage in that market are effective.

“We remain committed to taking a deep dive approach in North America to ensure that investments we make in sports have a near-term path to profitability.” 

Reeves’ comments on Bally’s approach to the US marked a slight change of tune from his comments for the release of its preliminary results for Q4 – in which he called US Interactive results “unacceptable.” 

However, the “deep dive” commitment Reeves refers to is a restructuring plan for the Interactive business, which Bally’s hopes will ensure investments made “in sports have a near-term path to profitability.” 


Casino News Sponsor
Premium+ Connections
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Flutter
Galaxy Gaming
Churchill Downs Incorporated
Oddsworks
Follow Us

Global Gaming Awards Asia-Pacific: Going live

The Global Gaming Awards Asia-Pacific are set for their firs...

Preview: SiGMA Asia 2024

SiGMA’s annual Asia summit comes back to Manila – signif...

Company profile: Praxis Tech

Being payments ready in Asia - A call to action for iGaming...