Bally’s Q2 revenue rises 5.8% to $657.5 million driven by Casinos & Resorts and U.K. Online operations

Bally’s Corporation posted a 5.8% rise in second-quarter revenue to $657.5 million, as growth in its Casinos & Resorts and U.K. Online businesses offset declines from the divestiture of its Asia interactive operations last year.

Revenue from the Casinos & Resorts segment jumped 14.7% to $393.3 million, driven by the addition of four regional properties from The Queen Casino & Entertainment, which Bally’s acquired in February. North America Interactive revenue climbed 21.5% to $56.5 million, returning to profitability with adjusted EBITDAR of $2.5 million from a $2.2 million loss a year earlier.

International Interactive revenue fell 10.2% to $206.1 million due to the Asia exit, but excluding those operations rose 10.0%, helped by an 8.8% increase in U.K. online revenue and continued growth in Spain after the easing of marketing restrictions.

“Our second quarter results reflect milestone achievements and marked progress on our continued business transformation as the new Bally’s 2.0,” Chief Executive Robeson Reeves said.

The company is pressing ahead with several high-profile projects, including its permanent Chicago resort - planned to feature about 3,400 slots, more than 170 table games, a 500-room hotel, and a 3,000-seat theatre - and a proposed $4 billion casino in the Bronx, pending a New York City gaming license. “If Bally’s prevails in securing a New York City gaming license, our casino resort has the potential to be the largest private investment in the borough of the Bronx’s history,” Reeves said.

In July, Bally’s agreed to sell its International Interactive business to Intralot S.A. for €2.7 billion ($3.14 billion) in cash and stock, a deal that will make it the majority shareholder of the Greek lottery and gaming technology firm.

The transaction, expected to close in the fourth quarter, is aimed at enhancing liquidity and reducing debt due in 2028. “This transaction is transformative for Bally’s as we unite our outstanding gaming and data technology with Intralot’s exceptional expertise in lottery,” Reeves said.

Bally’s also completed a AUD $200 million ($133 million) strategic investment in Star Entertainment Group, with the potential to increase its stake to 38%, in line with its strategy of investing in underperforming operators to create shareholder value.