Bally’s has posted group-wide revenue of $589.2m (£446m) for Q1 2025, marking a 4.7% year-on-year (YoY) decrease, with the slump attributed to an 18.3% decline in the operator’s International Interactive division.
The Rhode Island-based company’s topline figure is down from the $618.5m generated in the opening quarter of 2024.
On the online front, Bally’s International Interactive efforts were hamstrung by the divesture of its Asia-facing online operations in Q4 of last year.
The operator parted ways with its Asia-based igaming business in an undisclosed deal to a new company formed by the division’s current management team, offloading certain intellectual property in exchange for licence fees and royalties.
In turn, the first full quarter since the deal has prompted a notable slump in International Interactive revenue, dropping to $191.7m from Q1 2024’s total of $234.6m, while adjusted EBITDAR for the segment fell 7.7% YoY to sit at $77.1m.
Excluding its Asia operations, Interactive revenue for the reporting period actually ticked upwards, growing 7.7% YoY, as Bally’s shifts its online focus to European markets “that continue to demonstrate solid growth characteristics and deliver attractive margins”.
In the UK, online revenue climbed 4.9% YoY, a rise attributed to “strong player retention and monetisation”, said Bally’s bosses.
The addition of Queen Casino & Entertainment’s (QC&E) interactive business, following the move to take Bally’s into private hands after it accepted a $4.6bn deal from Standard General last July, bolstered revenue within Bally’s North America Interactive, which rose 12.5% YoY to $44.5m following the QC&E merger.
The continued ramp-up of its Rhode Island Interactive operations also aided growth, as construction issues with Bally’s retail locations in Rhode Island sparked an uptick in the amount of local residents turning to its online offering.
Despite this, the North America Interactive segment posted an adjusted EBITDAR loss of $8m, a marginal improvement from the $9.1m loss posted in the corresponding period last year.
BallyBet Sportsbook is currently active in 11 US states, while the operator’s igaming offering boasts a presence in New Jersey, Pennsylvania, Rhode Island, and Ontario.
Its land-based casinos and resorts (C&R) revenue produced an improved performance, producing growth of 2.6% YoY, totalling $351.2m.
C&R adjusted EBITDAR followed a similar trajectory, climbing 6.3% compared to Q1 2024, totalling $95.1m in the opening three months of this year.
Reflecting on the first quarter of the year, Bally’s CEO Robeson Reeves said: “Early in the 2025 first quarter we completed a series of transactions with QC+E and Standard General, which has further expanded our scale and positioned the company for compelling long-term growth as we added four regional gaming properties with attractive growth opportunities.
“Following the completion of these transactions, Bally’s expanded its domestic gaming portfolio and is deploying a range of best operating practices from both our legacy properties and Queen’s operations.
“These initiatives are focused on driving operating efficiencies, profitable top-line growth and improving operating margins while we simultaneously focus on growing our International Interactive business and optimising the results of our North America Interactive segment.”
In the early stages of Q2 2025, Bally’s announced a A$300m (£145.4m) investment in Star Entertainment Group, though the operator will now only pay A$200m as the remaining A$100m is covered by Investment Holdings, Star Entertainment’s largest shareholder.
Bally’s investment translates to a 38% ownership stake in the Australian gambling and entertainment company.
On the deal, Reeves noted: “The opportunity to take a significant equity stake in Star and influence its future is consistent with Bally’s historical operating strategy, and we are confident and optimistic that, similar to past situations, we can deploy our disciplined operating and financial practices to strengthen Star and create new value for Bally’s shareholders.”
For the second successive quarter, Bally’s has opted against hosting an earnings call to dissect its results.
The release of Bally’s Q1 results has had a marginal impact on the operator’s stock value, which currently sits at $11.55 per share in pre-market trading today, representing a 3% climb from its previous close of $11.24.
The post Bally’s group revenue falls as International Interactive arm suffers 18% YoY decline first appeared on EGR Intel.
Operator sees topline figure slump as online efforts outside of the US hindered by divesture of Asia-facing business late last year
The post Bally’s group revenue falls as International Interactive arm suffers 18% YoY decline first appeared on EGR Intel.