Bally's Corporation has recently released its annual report, providing detailed insights into its operations and financial performance. Bally's Corporation, a casino-entertainment company, operates through Casinos & Resorts, North America Interactive, and International Interactive segments. The company owns and manages casinos, a golf course in New York, a horse racetrack in Colorado, and has access to OSB licenses. Bally's also owns a sports betting platform and iCasino platform, as well as engages in online gaming operations. The company was formerly known as Twin River Worldwide Holdings, Inc. and changed its name to Bally's Corporation in November 2020. Bally's Corporation was incorporated in 2004 and is headquartered in Providence, Rhode Island.
During 2023, the company continued to grow its business by actively pursuing new gaming opportunities and reinvesting in its existing operations. In the Casinos & Resorts segment, Bally's Corporation announced a binding deal with the Oakland Athletics of Major League Baseball to site their new ballpark on a portion of its Bally’s Las Vegas property. The company also opened its temporary casino at the Medinah Temple in Chicago, Illinois and is on track to break ground to develop a permanent flagship destination casino resort in downtown Chicago, Illinois. Additionally, the company opened its property expansion at Bally’s Kansas City and Bally’s Twin River, providing enhanced amenities to improve the customer experience. Bally's Corporation also acquired Bally’s Golf Links at Ferry Point in the Bronx, New York.
In the International Interactive and North America Interactive segments, the company rolled out its new Bally Bet sportsbook app with new partners, Kambi and White Hat Gaming, in seven US states. It also launched iGaming app in Pennsylvania and Bally Casino, an iGaming app, and Bally Bet Sportsbook & Casino, its first combined casino and sportsbook app. The company anticipates launching a new iGaming app in Rhode Island following the legalization of iGaming in Rhode Island. These steps continue to position Bally's Corporation as a prominent, full-service, vertically integrated iGaming company, with physical casinos and online gaming solutions united under a single, leading brand.
Bally's Corporation also provided detailed financial information, including key performance indicators such as consolidated Adjusted EBITDA and segment Adjusted EBITDAR. The company uses these measures to analyze the performance of its business and as determining factors for performance-based compensation for members of its management team. In 2023, the company reported total revenue of $2,449.1 million, marking an increase from $2,255.7 million in 2022. The company also reported income from operations of $104.0 million for the year ended December 31, 2023, compared to a loss from operations of $293.0 million in 2022.
Today the company's shares have moved -0.8% to a price of $13.36. For more information, read the company's full 10-K submission here.
