Bally’s Corporation has published its financial results for the first quarter of 2025, reporting total revenue of US$589.2 million (£445.55m) across both pre- and post-merger periods, representing a 4.7 percent decrease compared to US$618.5 million in Q1 2024 (£467.59m).
The quarterly results reflect the impact of recent structural changes, including the completed transactions with Standard General and The Queen Casino & Entertainment. The company noted continued investment in the construction of its permanent casino facility in Chicago, with ongoing support from Gaming and Leisure Properties, Inc. (GLPI).
Revenue from Bally’s Casinos & Resorts segment reached US$351.2 million (£265.51m), marking a 2.6 percent increase year-on-year. North America Interactive generated US$44.5 million (£33.64m), up 12.5 percent from the same period last year, as the company continues to grow its digital presence in the region.
International Interactive operations, however, reported revenue of US$191.7 million (£144.94m), down 18.3 percent from Q1 2024.
The decline was attributed to the divestiture of the Asia-facing segment in 2024. Yet excluding the impact of this divestiture, International Interactive revenue increased by 7.7 percent. Within the international division, UK online operations saw a 4.9 percent rise in revenue, year-on-year.
Star Burst
In early Q2 2025, Bally’s also confirmed a strategic capital investment in Australia’s Star Entertainment Group, which boasts integrated casino resorts in Sydney, Brisbane, and the Gold Coast tourist hotspot.
The first-quarter report provides a segmented view of revenue distribution between February 8 and March 31, 2025 (post-merger) and January 1 to February 7, 2025 (pre-merger).
In this time, the Casinos & Resorts segment generated US$226.9 million (£171.52m) and US$124.3 million (£93.95m) respectively; while International Interactive contributed US$112.8 million (£85.25m) and US$79 million (£59.71m). North America Interactive brought in US$27.6 million (£20.86m) and US$16.9 million (£12.77m) during the respective periods.
Growth Strategy
Bally’s continues to execute on its multi-market growth strategy across land-based, online casino, and iGaming operations.
Commented Bally’s CEO Robeson Reeves: “Early in Q1 2025 we completed a series of transactions with The Queen Casino & Entertainment (“Queen”) 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.
Initiatives
“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.
“C&R segment Adjusted EBITDAR grew 6.3 percent, year over year, to US$95.1 million (£71.87m) reflecting the addition of the Queen properties in the post-merger period from February 8, 2025 to March 31, 2025.
“Despite the macro-economic headlines as a result of trade policies, to date in the second quarter, we continue to see relative stability across our C&R operations.
