Bally’s Corporation Reports Q1 2023 Financial Results
Bally’s Corporation has reported its financial results for the first quarter ended March 31, 2023.
The company achieved revenue of US$598.7 million (£473.8m), representing a 9.2 percent, YoY, increase and net income of $178.3 million (£141.74m) compared to US$1.9 million (£1.51m) in 2022.
Bally’s Adjusted EBITDA also increased by 10.2 percent, YoY, reaching $126.4 million (£100.55m).
In addition to its financial success, Bally’s announced partnerships with Kambi and White Hat Gaming to support the relaunch of Bally Bet, its sports betting platform.
Gaming revenue hit US$486.9 million (£387.07m) and non-gaming revenue was US$111.8 million (£88.87m) during the quarter. Meantime, the company repurchased one million common shares for US$19.8 million (£15.74m).
Said Bally’s CEO Robeson Reeves: “We are pleased to have achieved strong results across all three of our segments, Casinos and Resorts, International Interactive and North America Interactive.
“Overall our iGaming business is generating positive returns and we are very optimistic about the future of this business.
“We are also excited about our recently announced partnerships with Kambi and White Hat Gaming to support our relaunch of Bally Bet, our online sports betting platform, fulfilling our promise to partner with best-in-class technology providers to get this business back up and running in an effective and efficient manner.”