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Bally’s Revenue Up In Q4 2023 And Full Year As It Readies For RI Online Casinos

Written By Katarina Vojvodic on February 26, 2024 - Last Updated on February 29, 2024
Bally's Casino In Atlantic City

Bally’s Corp. (NYSE: BALY) shared its financial results for the fourth quarter and full year ending Dec. 31, 2023.

Robeson Reeves, chief executive officer of Bally’s, said in its Q4 2023 news release:

“Bally’s completed a successful 2023 with healthy results across all our business segments. Revenues in the fourth quarter grew 6.1% year-over-year to $611.7 million, reflecting continued growth in our Casinos & Resorts, International Interactive and North America Interactive segments. For the full year, revenues grew 8.6% versus 2022.”

Fourth quarter 2023 results and operating highlights

In its latest financial report released on Feb. 21, Bally’s Corp. emphasized the following results:

  • In Q4 2023, consolidated revenues of $611.67 million represent a 6.10% annual increase. The figure is still a 3.30% decrease compared to Bally’s Q3 2023 revenue of $632.5 million. Revenue rose 8.60% for the entire year compared to the 2022 full-year results.
  • Casinos & Resorts segment, reaching $342.3 million in the fourth quarter, saw a 7.2% yearly rise in revenues
  • The International Interactive division generated nearly $236.0 million in revenues, up 2.1% year-over-year from Q4 2022
  • North America Interactive vertical revenues reached almost $33.4 million, a notable 26.9% annual rise from the same time last year

Key improvements also include the initiation of 24/7 operations at the Chicago Temporary Casino property starting on Dec. 27. The property reached a record $10 million GGR for a first full month of round-the-clock operations in January.

George Papanier, Bally’s president, said: “Our operating team continues to refine all aspects of the Temporary Casino, while we simultaneously move forward with the financing and planning for the Permanent Casino.”

Bally’s also repurchased 5.8 million shares of common stock for $68.6 million.

Tropicana Las Vegas will close its doors on Apr. 2 as the company prepares to welcome the Las Vegas A’s to the Tropicana site and potential future development.

Bally’s gets ready for Rhode Island online casino launch

Bally’s is preparing for the launch of online casinos in Rhode Island within the North American interactive segment set for Mar. 1, 2024. It will be the only entity in the state operating famous Bally’s online slots and table games with a third-party partner, Stakelogic.

Paul Grimaldi, a spokesperson for the Rhode Island Department of Revenue (RIDOR), recently confirmed the scheduled launch date of Rhode Island online casinos. Once RI online casinos go live, the state will join other six legal US online casino markets:

  1. Connecticut
  2. Delaware
  3. Michigan
  4. New Jersey
  5. Pennsylvania
  6. West Virginia

The Bally’s online casino app is available in Pennsylvania, New Jersey and Delaware.

Photo by Seth Wenig, File / AP Photo
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Katarina Vojvodic

Katarina Vojvodic is a lead writer for PlayUSA who lives in Toronto. Vojvodic provides coverage of the US gambling industry with a focus on US online casinos. Previously, she covered Ontario’s online gambling industry for Vojvodic holds a master’s degree in journalism from the University of Belgrade. Outside working hours, she can be found near the water with her husband and their two kids.

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