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Bally's Corporation (BALY+0.17%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing includes financial statements for the quarter, showing total revenue of $629.974 million, a slight decrease from $632.477 million in the same quarter the previous year. The decrease is attributed to lower non-gaming revenue despite an increase in gaming revenue.
Gaming revenue increased by 2.9% to $523.906 million, driven by the inclusion of Bally's Chicago temporary casino and expanded operations in North America Interactive.
Non-gaming revenue decreased by 14.2% to $106.068 million, primarily due to lower hotel and food and beverage revenues.
Operating expenses increased, resulting in a loss from operations of $157.655 million compared to income from operations of $37.236 million in the previous year. This was impacted by a $150 million loss on sale-leaseback related to the Bally's Chicago project.
Interest expense, net, increased to $73.975 million from $70.630 million, reflecting higher interest rates.
The company reported a net loss of $247.855 million for the quarter, compared to a net loss of $61.802 million in the previous year.
Adjusted EBITDAR for the Casinos & Resorts segment decreased to $100.442 million, while International Interactive increased to $90.030 million. North America Interactive reported an adjusted EBITDAR loss of $10.976 million.
Cash provided by operating activities was $76.178 million, while cash used in investing and financing activities was $191.081 million and $75.708 million, respectively.
Bally's continues to focus on its strategic growth projects and integration of acquired assets, including the ongoing development of Bally's Chicago.
The company remains in compliance with all applicable covenants under its credit facilities and continues to manage its exposure to interest rate and currency exchange rate risks through derivative instruments.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bally's Corporation quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.