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{"id":19554,"date":"2021-11-04T15:48:27","date_gmt":"2021-11-04T15:48:27","guid":{"rendered":"https:\/\/onlinegamblingdaily.com\/ballys-sets-revenue-record-with-170-increase-in-q3\/"},"modified":"2021-11-04T15:48:27","modified_gmt":"2021-11-04T15:48:27","slug":"ballys-sets-revenue-record-with-170-increase-in-q3","status":"publish","type":"post","link":"https:\/\/onlinegamblingdaily.com\/ballys-sets-revenue-record-with-170-increase-in-q3\/","title":{"rendered":"Bally’s sets revenue record with 170% increase in Q3"},"content":{"rendered":"
\n

B <\/p>\n

ally\u2019s Corporation<\/a> <\/strong>reported Thursday its financial results for the third quarter 2021<\/strong>, ended on September 30, with <\/span>record revenue of $314.8 million, a 169.9% increase<\/strong> in a year-over-year comparison. <\/strong><\/span><\/p>\n

Net loss was of $14.7 million, in contrast to net income of $6.7 million for the comparable period; while Adjusted EBITDA accounted for $78 million, an increase of $40 million compared to 2020.<\/strong><\/span><\/p>\n

The company\u2019s retail casinos segment revenue hit a record of $301.6 million,<\/strong> while their net income was of $49,4 million,<\/strong> versus $22.1 million for the comparable period. Adjusted Retail Casinos EBITDAR was $106.5, in contrast to $43.5 million in 2020.\u00a0<\/strong><\/span><\/p>\n

These figures came despite natural disasters striking during this period, which included two hurricanes and wildfires in Nevada. <\/strong>However, sales from its North America Interactive division doubled from last quarter to $11.4 million.\u00a0<\/strong><\/span><\/p>\n

The company also acquired software development firm Gamesys on October 1st<\/a>, after reaching an agreement in April that would see Bally\u2019s pay $25.46 pers share. <\/strong>Gamesys revenue of $248.6 million consists of a record high on a constant currency basis. Net loss and Adjusted EBITDA were $8.7 million and $83.8 million, respectively. The company\u2019s results, however, are not included in Bally\u2019s report. According to the company\u2019s CEO, Lee Fenton, Gamesys<\/a>\u2019 numbers will be included in Q4.\u00a0<\/strong><\/span><\/p>\n

In an official press release, Fenton said: “On October 1, 2021, Bally’s completed its transformational acquisition of Gamesys Group – a strategic combination that further advances Bally’s global, data-driven, omni-channel strategy. As a result, our business is evolving from a regional casino operator into an industry leader in retail, sports, media and iGaming, which will see us harness a set of assets that provides a formidable platform for growth as a digital-first leader in global gaming entertainment.”<\/span><\/p>\n

“This quarter, Retail Casinos had $301.6 million of revenue and $106.5 million of Adjusted Retail Casinos EBITDAR. The quarter was negatively impacted by approximately $6 million of losses related to natural disasters, including two hurricanes and wildfires in Nevada\u201d, he added.\u00a0<\/span><\/p>\n

\u201cNorth America Interactive sales doubled from last quarter at $11.4 million, with Adjusted EBITDA of ($5.5) million, which was in line with our expectations. Adjusted EBITDA for the Company of $78.0 million includes $11.4 million of rent expense and $11.1 million of corporate expense. Gamesys had record Revenue and Adjusted EBITDA on a constant currency basis for the quarter, which will be consolidated into Bally’s results starting with the fourth quarter\u201d, he concluded.\u00a0<\/span><\/p>\n

In Nevada, Bally\u2019s is\u00a0acquiring<\/a>\u00a0the\u00a0Tropicana Las Vegas<\/strong><\/a>\u00a0from Gaming and Leisure Properties, which is\u00a0expected to close in early 2022.<\/strong>\u00a0The Rhode Island-based company already operates\u00a014 casinos<\/strong>, has sportsbooks in the United States with its\u00a0Bet.Works<\/strong>\u00a0subsidiary, and daily fantasy sports games through subsidiary\u00a0Monkey Knife Fight.<\/strong><\/span><\/p>\n<\/p><\/div>\n\n

\n\n\t\t\n
    \n\t\t\t <\/ul>\n <\/div> \n","protected":false},"excerpt":{"rendered":"

    B ally\u2019s Corporation reported Thursday its financial results for the third quarter 2021, ended on September 30, with record revenue of $314.8 million, a 169.9% increase in a year-over-year comparison. Net loss was of $14.7 million, in contrast to net income of $6.7 million for the comparable period; while Adjusted EBITDA accounted for $78 million,<\/p>\n","protected":false},"author":4,"featured_media":19555,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5720,1],"tags":[],"class_list":{"0":"post-19554","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ballys","8":"category-online-gambling-news"},"yoast_head":"\nBally's sets revenue record with 170% increase in Q3 - Online Gambling Daily<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/onlinegamblingdaily.com\/ballys-sets-revenue-record-with-170-increase-in-q3\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bally's sets revenue record with 170% increase in Q3 - Online Gambling Daily\" \/>\n<meta property=\"og:description\" content=\"B ally\u2019s Corporation reported Thursday its financial results for the third quarter 2021, ended on September 30, with record revenue of $314.8 million, a 169.9% increase in a year-over-year comparison. 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