Bally’s Corporation has reported preliminary financial results for the fourth quarter and full year ended 31 December 2025, with growth in its igaming and interactive segments contributing to overall revenue increases.
The company recorded total revenue of $746.2m for the fourth quarter, representing a year-on-year increase of 28.6%. Bally’s North America Interactive segment, which includes igaming and sports wagering operations, generated $62.3m in revenue during the quarter, up 55.4% compared with the same period in 2024.
Across the full year, Bally’s reported total revenue of approximately $2.44bn based on preliminary figures. The igaming and online betting segment in North America contributed $196.3m over the period, reflecting continued expansion in regulated markets.
Bally’s also reported growth within its Bally’s Intralot B2C division, which includes international igaming and sports betting operations. The segment generated $236.5m in revenue during the fourth quarter, an increase of 13.9% year-on-year, supported by activity in markets including the UK and Spain and the integration of Intralot’s B2C business.
In October 2025, Bally’s combined its International Interactive business with Intralot, creating Bally’s Intralot S.A., a business focused on igaming and lottery operations. Bally’s holds a 58% controlling interest in the entity and consolidates its financial results. The combined structure now reports across four segments: Casinos & Resorts, Bally’s Intralot B2B, Bally’s Intralot B2C and North America Interactive.
The company also highlighted several operational developments during the period, including the opening of a renovated land-based entertainment complex in Baton Rouge following a $160m redevelopment, and the award of a licence from the New York State Gaming Commission to develop a casino resort in the Bronx.
In addition, Bally’s entered into a new $1.1bn credit facility due in 2031 and completed a sale and leaseback transaction involving its Lincoln Casino Resort, using proceeds alongside cash from the Intralot transaction to repay an existing $1.47bn term loan.
The preliminary results are subject to revision pending the completion of internal reviews and audit procedures. Bally’s confirmed it will file an extension for its annual report on Form 10-K, with finalised results to be published at a later date.
The results reflect ongoing growth in Bally’s igaming and interactive operations as the company continues to expand its presence across regulated markets while integrating its lottery and igaming activities through the Bally’s Intralot structure.
Robeson Reeves, Bally’s Chief Executive Officer, commented, “Our fourth quarter completed a successful and truly transformational year for Bally’s. In 2025, we reshaped and expanded our portfolio both domestically and internationally, online and in retail, while strengthening our balance sheet and positioning the Company for near- and long-term growth.
“Domestically, we have made substantial progress on Bally’s Chicago – the only casino in the city limits of Chicago and the largest in the state of Illinois. The permanent casino will feature approximately 3,400 slots, over 170 table games, a 500-room hotel tower, a 3,000-seat theater, ten food and beverage venues and a river-side public park.
“In December, the New York State Gaming Commission issued a Gaming Facility License to develop Bally’s Bronx. Bally’s Bronx is a $4.0 billion integrated casino resort project, the largest private development in the borough’s history. Expected to open by 2030, it is anticipated to be a 16-acre attraction with 3 million square feet of gaming facilities, a 500-room hotel, a 2,000-person event center and a cultural destination. We are both excited for and committed to the Bronx project, which is a tremendous opportunity for the local community, with over $765 million of community benefits and thousands of jobs.
“We continue to move forward with our development of Bally’s Las Vegas on the former Tropicana site, sharing a 35- acre campus with Major League Baseball’s Las Vegas Athletics. This multi-phased project will feature an exciting mix of sports, casino, retail, dining, and immersive entertainment experiences with over 500,000 square feet of space and direct access to the ballpark. With construction already underway to support the A’s 2028 season opening, Bally’s Las Vegas is set to redefine the retail, dining and entertainment experience in the heart of the Strip.
“In 2025, we expanded our retail holdings internationally with an investment in The Star Entertainment Group (ASX: SGR, “Star”), Australia’s second largest gaming operator with three casinos that had come under distress. In the fourth quarter, following confirmation of suitability by Australian regulators, Bally’s converted its loan to Star into a 38% equity interest. With a proven track record of revitalizing underperforming businesses, Bally’s is excited to lend its expertise to Star and contribute to its successful turnaround as a leading operator in the Asia-Pacific region.
“On the digital interactive side, we became the majority shareholder of Bally’s Intralot and created a global iGaming and lottery champion with enhanced scale, diversification, and a highly complementary product offering across B2C, B2G and B2B channels.
“In summary, our strategic initiatives of the past year have created a scaled, growing, global omni-channel provider of retail and online experiences. We continue to demonstrate strategic and prudent use of our capital resources and balance sheet to drive growth and returns for our stakeholders. Combined with our operational expertise and longterm vision, we are aggressively pursuing and executing on the many growth opportunities before us.”
