Q3 2024 Bally's Corp Earnings Call Transcript
Key Points
- North America Interactive segment revenue grew by 55%, showcasing strong performance in this area.
- UK interactive business achieved a 12% increase in revenues, indicating robust growth in this market.
- Adjusted EBITDA margins for the International Interactive segment improved by approximately 400 basis points year-over-year.
- Significant agreement with gaming and leisure properties to fund the construction of a flagship casino in downtown Chicago, enhancing future growth prospects.
- Aspers Casino acquisition in Newcastle offers an opportunity to expand Bally's brand presence in the UK and leverage the online player database.
- Overall third quarter revenues declined slightly by less than 1% year-over-year to $630 million.
- Casinos and Resorts segment saw a 2% decrease in revenue, indicating challenges in this area.
- International Interactive segment experienced a 5% revenue decline due to non-UK operations.
- Rhode Island and Atlantic City faced ongoing headwinds, impacting revenue and property-level margins.
- Adjusted EBITDA for the Casino and Resorts segment decreased by 15% from the previous year, reflecting profitability challenges.
Good day and welcome to the Bally's Corporation Third Quarter, 2024 Earnings Conference Call at this time.
(Operator Instructions) Please be advised that today's conference is being recorded. (Operator Instructions)
I would now like to turn the call over to Charlie Diao, senior Vice President and Treasurer for Bally's. Please go ahead Sir.
'--
Good afternoon and thank you for joining us on today's call, the earning release and presentation that accompany this call are available at the investor relations section of our website at www.ballys.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 forward-looking statements.
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