Bally’s Interactive Business Boosts Revenue to $2.45 Billion in 2023

Bally’s Corporation reported a significant 8.6% increase in revenue, reaching $2.45 billion in 2023. The surge was largely attributed to the expansion of its interactive business, both in North American and international markets. Despite challenges, such as the need to streamline operations, the company managed to reduce its net loss for the year.

Throughout 2023, Bally’s undertook several strategic initiatives to bolster its position in the market. This included the optimization of its workforce, with a 15% reduction in its North American interactive division early in the year. Additionally, the company made key partnerships and expansions, such as outsourcing its sports betting technology and venturing into the UK's online gaming sector.

Alongside its interactive endeavors, Bally’s also made strides in its land-based activities. The opening of a temporary casino in Chicago and a partnership with the Oakland Athletics franchise for a new ballpark highlight the company's diversification efforts. CEO Robeson Reeves expressed optimism about future growth, particularly in New York, where Bally’s aims to establish a new casino.

Despite operational challenges, Bally’s showcased a promising financial performance in 2023. Gaming revenue surged by 7.9%, while non-gaming revenue also saw a notable increase of 11.7%. Looking ahead to 2024, the company anticipates further growth, projecting revenue between $2.50 billion and $2.70 billion, along with adjusted EBITDA in the range of $655.0 million to $695.0 million.