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Bally's Corporation (NYSE:BALY) traded lower in the postmarket session on Wednesday after Q4 results disappointed investors.
The company reported revenue rose 7.2% in the Casinos & Resorts segment to $342.3M. Interactive revenue was up 2.1% during the quarter to $236.0M. Revenue in the North America Interactive segment grew 26.9% to $33.4M/
EPS for the quarter was -$5.11 vs. -$8.87 a year ago.
CEO Robeson Reeves said Bally's (BALY) saw a strong performance across much of the portfolio, as properties exceeded the market GGR comp for revenue performance in 7 of the company's 10 markets. Of note, Atlantic City delivered its first full year of profitable Adjusted EBITDAR under Bally's (BALY) ownership. In Chicago, BALY continued to incorporate customer feedback to improve the guest experience.
"Further, we remain optimistic about the robustness of the market and the long-term potential for both the Temporary Casino and our Permanent Casino. We believe our Casinos & Resorts assets are well positioned to continue to increase market share and we will responsibly invest in growing our database to drive top-line results."
Looking ahead, Bally's (BALY) expects the adjusted EBITDAR loss for the North American Interactive segment to narrow. Bally’s (BALY) expects to generate full year revenue in a range of $2.5B to $2.7B vs. $2.66B consensus and adjusted EBITDAR in a range of $655M to $695M. The full year guidance was noted to include the impact of severe winter weather on January results in the Casinos & Resorts segment followed by stabilization thus far in February, as well as the impact the closure of the Tropicana Las Vegas will have on the 2024 year-over-year comparisons. The outlook also includes continued growth in the International Interactive business and the launch of iGaming in Rhode Island in our North America Interactive segment.
Shares of Bally's (BALY) were down 1.88% in postmarket trading and are down more than 25% on a year-to-date basis.