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State of Play
- Bally’s reported a 5.4% increase in Q3 revenue, boosted by casino expansions and online growth, yet Wall Street remains cautious.
- Despite solid performance, its stock underperforms compared to other casino operators, reflecting tempered analyst confidence.
Bally’s revenue reached $663.7 million in Q3, a 5.4% year-over-year increase. The rise was largely fueled by a 12.1% jump in sales from casinos and resorts, supported by the opening of new Queen properties.
Although Bally’s reported more revenue in Q3, its stock continues to underperform compared to other operators in the casino industry.
Online operations remained stable, with UK online revenue growing 8% and North America Interactive revenue, which includes Bally Online Casino, increasing 13.1%. Additionally, Bally’s acquired a majority stake in Intralot for €2.7 billion, which could potentially add €1.1 billion in annual sales.
The company also plans to achieve $15 million in cost savings and awaits the outcome of its application for a Bronx casino license.
Investors remain skeptical
Bally’s growth signals a positive expansion, but unresolved challenges remain. The stable online revenue and casino sales rise suggest ongoing engagement from bettors, yet stock market caution indicates skepticism about the company’s future upside.
Bally’s valuation lags behind that of competitors considered more bullish, which may influence investment and operational strategies. The pending Bronx license is a key variable impacting Bally’s US market footprint and long-term growth prospects. If Bally’s is awarded the downstate casino license, that will be a major boon for the company and investors.
The final decision on the three New York downstate casino licenses is expected to be made within the next year, if not sooner, in 2026. Following that, the focus will shift to legalizing New York online casinos. There is no doubt that Bally’s will seek to enter that potentially massive industry if and when that finally comes to fruition.
Investors and players should monitor market reactions to these developments and compare Bally’s performance with that of its more aggressive rivals. The broader online casino and retail casino industry trend shows robust digital growth paired with cautious investor sentiment.
Based on reporting by Finimize.
