Key points:
- Bally’s Q4 2024 revenue declined by 5.1% year-on-year to $580.4m, with full-year revenue remaining flat at $2.45bn
- North America Interactive was the only segment to report growth, increasing 24.4% to $41.5m in Q4 2024 and 58% year-on-year to $177.9m for FY2024
- Bally’s completed transactions with The Queen Casino & Entertainment and Standard General, expanding its domestic casino footprint
Bally’s Corporation reported a 5.1% year-on-year decline in Q4 2024 revenue, generating $580.4m.
The company’s total revenue for FY2024 remained flat at $2.45bn, reflecting a marginal 0.1% increase from the prior year.
The revenue decline in Q4 was primarily attributed to a 5.2% decrease in Bally’s Casinos & Resorts segment, which reported $324.4m in revenue during the quarter.
Meanwhile, International Interactive revenue fell by 9.1% to $214.5m, despite 11.3% growth in the UK market.
Bally’s noted that this decline was largely due to the divestiture of its Asia-based interactive distribution business.
North America Interactive reports strong growth amid platform transition
Bally’s North America Interactive segment was the only business unit to post revenue growth in Q4 2024, increasing 24.4% to $41.5m. For FY2024, the segment’s revenue surged by 58% to $177.9m.
Despite this strong revenue performance, Bally’s reported an adjusted EBITDAR loss of $12.3m for the North America Interactive division during Q4, citing platform migration issues that impacted short-term results.
Bally Bet’s expansion into Tennessee and the launch of the Monopoly Casino app in New Jersey were identified as key drivers for the segment’s revenue growth.
Casinos & Resorts segment performance and market challenges
Bally’s Casinos & Resorts segment generated $324.4m in revenue during Q4, marking a 5.2% decline. Adjusted EBITDAR for the segment fell 14.6% to $80.9m, as higher operational costs and weaker performance in some markets contributed to lower earnings.
The company reported mixed results across its casino properties. Rhode Island’s Lincoln property saw lower foot traffic due to ongoing local bridge construction, while Atlantic City’s turnover in its relationship marketing team impacted player retention.
Bally’s noted stronger performance in Kansas City, where a newly opened high-limit gaming area contributed to revenue gains.
Bally’s Chicago temporary casino continued to underperform against company expectations, although executives stated that customer sentiment toward the permanent casino development remains positive.
In December, Bally’s received final approval from the City of Chicago for its master plan, allowing construction on the permanent site to move forward.
International Interactive revenue falls despite UK market growth
Bally’s International Interactive revenue declined by 9.1% to $214.5m in Q4 2024. However, UK revenue grew by 11.3% (7.9% on a constant currency basis), driven by improved player retention and revenue optimisation efforts.
The company’s decision to divest its Asian and certain international interactive distribution businesses has impacted revenue but is expected to streamline its focus on regulated European markets. Bally’s reported that excluding the divested businesses, International Interactive revenue would have grown by 12.9%.
Expansion of domestic casino portfolio through strategic transactions
In early 2025, Bally’s completed its previously announced transactions with The Queen Casino & Entertainment and Standard General, expanding its casino operations across multiple US markets.
The four Queen casino properties generated $57.6m in revenue during Q4 and $225.2m in revenue for FY2024. Bally’s has highlighted that the Belle of Baton Rouge and Casino Queen Marquette properties are undergoing landside conversions, which are expected to enhance long-term revenue growth.
Looking ahead: Bally’s focus for 2025
Bally’s CFO Marcus Glover stated: “As we close out 2024 and begin 2025, our team is working diligently across multiple fronts to optimise our cost structure, enhance the efficiency of our operations, adopt certain best practices from Queen and set the stage for significant long-term value creation.”
Bally’s previously reported that Q3 2024 revenue declined by 0.4% to $630m, despite strong growth in the North America Interactive segment. The company has continued to restructure its digital operations, including the sale of its Asian business, to focus on US and European markets.
With construction now underway at its permanent Chicago casino and redevelopment plans in Las Vegas progressing, Bally’s is positioning itself for long-term growth, despite near-term financial pressures.
The company expects improvements in its North America Interactive division as platform integration issues resolve and anticipates further stability in its Casinos & Resorts segment as ongoing projects reach completion.
