Ballys Corp (FRA:358)
€ 15.9 -0.3 (-1.85%) Market Cap: 654.43 Mil Enterprise Value: 5.16 Bil PE Ratio: 0 PB Ratio: 1.81 GF Score: 82/100
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Q2 2024 Bally's Corp Earnings Call Transcript

Jul 31, 2024 / 08:30PM GMT
Release Date Price: €15.7

Key Points

Positve
  • Second quarter revenues increased by 3% year over year, reaching $622 million.
  • North America interactive segment saw a substantial 95% revenue growth.
  • UK business generated a 9% revenue growth increase.
  • Adjusted EBITDA margins improved by approximately 130 basis points year over year.
  • Secured $940 million in strategic construction and financing arrangement for the Chicago casino project.
Negative
  • International interactive segment saw a 7% revenue decline due to non-UK operations.
  • Rhode Island properties were impacted by the Providence bridge disruption, affecting traffic and visitation.
  • Atlantic City faced challenges due to turnover in the relationship marketing team.
  • Adjusted EBITDA for the Casino & Resorts segment decreased by 10% year over year.
  • North America interactive segment incurred an adjusted EBITDA loss of approximately $7 million.
Operator

Please standby. We're about to begin. Good day, everyone, and welcome to the Bally's Corporation Second Quarter 2024 earnings conference call. At this time, all participants are in a listen only mode. (Operator Instructions) Please be advised that today's conference is being recorded. I'd now like to turn the call over to Mr. Charlie Diao, Senior Vice President and Treasurer for Bally's. Please go ahead, sir.

H.C. Charles Diao;s Corp;Senior Vice President;Finance and Corporate Treasurer
Bally

'--

Good afternoon and thank you for joining us on today's call. The earnings release and presentation that accompanies this call are available in the Investors Relations section of our website at www.bally.com. With me today are our Chief Executive Officer, Robeson Reeves; our President. George Papanier; and our Chief Financial Officer, Marcus Glover.

Before we begin, we would like to remind everyone that comments made by management today will contain

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