iGaming and casino operator Bally’s Corporation has reported first quarter 2026 consolidated revenue of $755.7m, representing year-on-year growth of 28.3%, supported by expansion across its casinos, online gaming and interactive divisions.
The company stated that growth during the quarter was driven by contributions from the acquisition of Queen Casino & Entertainment completed in February 2025, the integration of Intralot’s B2C operations and increased wagering activity across its North America Interactive business.
Casinos & Resorts revenue reached $379.7m in Q1 2026, up 8.1% year-on-year. Bally’s cited contributions from the Queen transaction alongside operational growth at properties including Bally’s Baton Rouge, which completed its landside transition in December 2025, and Marquette, which moved landside in February 2026. The company also reported growth at its Chicago and Quad Cities operations, partially offset by increased competition in Shreveport and Dover.
Segment Adjusted EBITDAR for Casinos & Resorts increased 1.2% year-on-year to $96.2m. Bally’s stated that higher revenues were partially offset by competitive pressures and additional shared services costs allocated from the corporate division.
Bally’s Intralot B2C revenue totalled $239.9m during the quarter, increasing 31.0% year-on-year. The company attributed the performance primarily to growth in the UK online market and the addition of Intralot’s B2C business following the transaction completed in late 2025. UK online revenue increased 10.5% in constant currency terms, supported by higher new player volumes, while Spain recorded stable performance with 1.7% year-on-year growth in constant currency.
The Bally’s Intralot B2B division generated revenue of $74.0m in Q1 2026 following the integration of Intralot’s B2B and B2G operations. Bally’s noted that the legacy Intralot B2B business recorded broadly flat EBITDAR performance despite lower US lottery activity during the quarter.
North America Interactive revenue increased 35.9% year-on-year to $60.5m, reflecting growth across sportsbook, online casino and other wagering verticals within Bally’s iGaming operations. The segment recorded a negative adjusted EBITDAR of $7.1m, representing an improvement of $0.9m compared to the prior-year period. Bally’s stated that customer retention initiatives, revenue growth and cost management measures introduced by the new North America Interactive leadership team contributed to the performance.
During February 2026, Bally’s entered into a new $1.1bn credit facility due in 2031 and completed the sale and leaseback of the Lincoln Casino Resort real estate assets with GLP Capital L.P. The company used proceeds from the Intralot transaction, the new financing arrangement and the sale-leaseback agreement to fully repay its previous $1.47bn term loan due in 2028.
The company continues to expand across land-based gaming, lottery and digital iGaming operations following its recent acquisitions and financing restructuring activities.
Robeson Reeves, Bally’s Chief Executive Officer, commented, “We delivered solid first quarter results across the enterprise and continue to make progress on growing and diversifying our global footprint, delivering on operational synergies and strengthening our balance sheet. We believe economic conditions in areas where we operate remain stable and are confident in our ability to leverage our operational expertise and capital resources to deliver on our highly anticipated growth projects.
“Domestically, we continue to make substantial progress on Bally’s Chicago – the only casino in the city limits of Chicago and the largest in the state of Illinois. In April, we celebrated the “topping out” of the project with the completion of the structural steel. 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.
“Following the official receipt of our Gaming Facility License from the New York State Gaming Commission, we are thrilled to move forward with Bally’s Bronx. Representing a $4.0 billion investment, this integrated resort is the largest private development in the borough’s history. During the first quarter, we finalized critical capital allocations and land acquisitions to pave the way for construction. This included the $500 million statutory New York license fee payment, a $115 million contingent consideration for the golf course concession, and the securing of approximately 16 acres of parkland designated for the resort’s footprint. Expected to open by 2030, Bally’s Bronx will be a world-class destination delivering broad community benefits. The 3-million-square-foot facility will feature a premier gaming floor, a luxury 500-room hotel, a 2,000-seat event center, and an 18-hole golf course. As a landmark project for the region, it will drive tremendous local opportunity – creating thousands of jobs and delivering over $765 million in dedicated community benefits.
“We also 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. Construction of the A’s stadium is well underway to support the team’s 2028 season opening, while we are in active discussions with potential partners for exciting entertainment and retail offerings.
“On the interactive side, Bally’s Intralot saw strong performance, particularly in our UK region and B2C business. We are now over seven months into the integration of Bally’s International Interactive and Intralot and the teams have come together well, sharing common strategy and priorities while tracking in line with our synergy plan. While the higher UK remote gaming duty went into effect on April 1st, our UK business has been robust, and we remain confident in the gaming tax increase mitigation plan we disclosed last year. In this regard, during the first quarter we saw increasing active player numbers and grew revenue 10.5% year over year in constant currency.
“In the fourth quarter of 2025, following confirmation of suitability by Australian regulators, Bally’s converted its loan to The Star Entertainment Group Limited (“Star”) into a 38% equity interest. Bally’s management team is lending valuable expertise and support to Star and we’re seeing both revenue and cost initiatives gain good traction. In early May, Star announced the full refinancing of its prior debt with a US$390 million facility from WhiteHawk Capital Partners, substantially increasing the company’s liquidity and setting the stage for a continued recovery.
“In summary, our strategic initiatives are creating a scaled, growing, global omni-channel provider of retail and online experiences and we are aggressively pursuing and executing on the many growth opportunities before us.”
