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Bally's (BALY) investor relations material
Bally's Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Completed merger with Queen Casino & Entertainment, expanding the casino portfolio and geographic footprint, with Parent and affiliates now owning 73.8% of common stock.
Revenue reached $657.5 million in Q2 2025, up 6% year-over-year, driven by the Queen merger and strong segment performance.
Entered into a transaction agreement to sell International Interactive business to Intralot S.A. for €2.7 billion, expected to close in Q4 2025, making the company the majority shareholder of Intralot.
Continued focus on integrating acquired assets, investing in strategic growth projects, and expanding omni-channel gaming presence.
North America Interactive revenue increased 21.5% year-over-year, supported by iGaming and sports betting expansion.
Financial highlights
Q2 2025 revenue increased 6% year-over-year to $657.5 million; six-month revenue up 1% to $1.03 billion.
Net loss for Q2 2025 was $228.4 million, compared to a net loss of $60.2 million in Q2 2024.
Adjusted EBITDA for Q2 2025 was $129.2 million, nearly flat year-over-year.
Casinos & Resorts revenue rose 14.7% year-over-year in Q2 2025, driven by Queen acquisition; International Interactive revenue declined 10.2% due to prior asset sales.
Q2 2025 Casinos & Resorts revenue: $393.3 million; International Interactive: $206.1 million; North America Interactive: $56.5 million.
Outlook and guidance
Proceeds from the Intralot transaction are expected to be used to pay down revolver and secured debt, enhancing liquidity and reducing 2028 secured debt.
Permanent Bally's Chicago casino expected to open in 2026, with construction funding secured through a $940 million agreement with GLPI.
Ongoing construction of Chicago resort and pursuit of a $4 billion Bronx casino project, contingent on license approval.
Ongoing focus on cost efficiencies, operational improvements, and strategic capital deployment in regulated iGaming markets.
Focus remains on operational efficiencies, cost management, and integrating Queen properties.
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