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Read Full BioBally’s is looking to accelerate its omni-channel ambitions further still, as the operator aims to make further strides to becoming a “digital-first leader in global gaming entertainment”.
This comes after the group last month completed its $2bn acquisition of Gamesys Group, whose tech platform, it was said, would enable the continued expansion of its interactive offerings in North America, including real-money gaming options in online sports betting and igaming.
This was subsequently followed-up with the purchase of Manchester-based Degree 53, as well as the group outlining its ambition for a $1.6bn Chicago-based casino resort earlier this month.
Lee Fenton, who became CEO of Bally’s following the aforementioned merger, noted: “On October 1, 2021, Bally’s completed its transformational acquisition of Gamesys Group – a strategic combination that further advances Bally’s global, data-driven, omni-channel strategy.
“As a result, our business is evolving from a regional casino operator into an industry leader in retail, sports, media and igaming, which will see us harness a set of assets that provides a formidable platform for growth as a digital-first leader in global gaming entertainment.”
The comments come amid publication of the company’s third quarter report, which shows that revenue increased 169.9 per cent year-on-year, as net loss closed at $14.74m from 2020’s $6.72m, and adjusted EBITDA increased 105.1 per cent to $77.97m (2020: $38m).
Retail casinos revenue was a record high of $301.6m, with net income up 123.5 per cent to $49.4m versus 2020’s $22.1m, as adjusted EBITDAR surged to $106.5m (2020: $43.5m).
For the year-to-date, revenue climbed 204.1 per cent to $774.77m (2020: $254.69m), as net loss swung from $749,000 to record a Q3 income of $137.74m.
Fenton continued: “This quarter, retail casinos had $301.6m of revenue and $106.5m of adjusted retail casinos EBITDAR. The quarter was negatively impacted by approximately $6m of losses related to natural disasters, including two hurricanes and wildfires in Nevada.
“North America Interactive sales doubled from last quarter at $11.4m, with adjusted EBITDA of -$5.5m, which was in line with our expectations. Adjusted EBITDA for the company of $78m includes $11.4m of rent expense and $11.1m of corporate expense.
“Gamesys had record Revenue and Adjusted EBITDA on a constant currency basis for the quarter, which will be consolidated into Bally’s results starting with the fourth quarter.”
