Bally’s growth driven by new regional casinos bought from The Queen

Summary

Bally’s reported third-quarter revenue of $663.7m, up 5.4% year‑on‑year, with casinos & resorts revenue rising 12.1% to $396.1m. The uplift in casino revenue was driven largely by the addition of four regional properties acquired from The Queen earlier in 2025. UK online revenue grew 8%, while international interactive revenue fell 6.9% largely due to last year’s divestiture of the Asia interactive business. North America interactive revenue rose 13.1% to $49.9m.

Management highlighted strong Adjusted EBITDAR performance at Vicksburg, Kansas City and the Queen Baton Rouge — the latter benefiting from a 2023 landside relocation that is still boosting share. Bally’s expects the landside conversion of Bally’s Baton Rouge to complete in Q4 with material improvement in 2026.

A major strategic move: Intralot S.A. completed its acquisition of Bally’s International Interactive business for €2.7bn (€1.53bn cash plus 873.7m Intralot shares). Post‑deal, Bally’s holds a 58% stake in Intralot, used part of the cash to pay down roughly $1.3bn of secured debt, and says the combined Intralot entity should generate about €1.1bn annual revenue with EBITDA margins above 39%.

Key Points

Q3 revenue: $663.7m, +5.4% year‑on‑year; casinos & resorts revenue $396.1m, +12.1%.
Casino gains driven by acquisition of four regional properties from The Queen earlier in 2025.
UK online revenue +8%; International interactive revenue -6.9% (impact of Asia divestiture).
North America interactive revenue $49.9m, +13.1% YoY — Rhode Island and online sports betting contributing.
Strong Adjusted EBITDAR at Vicksburg, Kansas City and the Queen Baton Rouge; landside conversion at Baton Rouge to finish in Q4 with material improvement expected in 2026.
Intralot acquisition: €2.7bn deal, Bally’s receives €1.53bn cash + shares and holds 58% of Intralot; roughly $1.3bn of secured debt paid down from proceeds.
Cost‑saving programme targeting >$15m annual savings by optimising corporate and casino overheads.
Major development projects ongoing: Chicago riverfront resort (first funding $125.4m from GLPI), Bronx 16‑acre resort proposal approved by local advisory committee, and plans for Bally’s Las Vegas on the former Tropicana site.

Context and Relevance

This update matters for investors and industry watchers: Bally’s is reshaping itself through M&A, asset conversions and large-scale developments while cutting debt and overheads. The Intralot transaction is especially material — it creates a scaled international iGaming and lottery operator with strong EBITDA margins and cross‑selling potential. Combined with local property gains and big development plans in Chicago, the Bronx and Las Vegas, Bally’s is positioning for both retail and online growth.

Why should I read this?

Quick take: if you follow gaming, casinos or investor moves in the sector, this is worth your minute. Bally’s isn’t just reporting better numbers — it’s executing a big strategic pivot (Intralot deal, debt paydown, property conversions and major new resorts). That mix changes risk/reward and could reshape market competition in several US cities and in international iGaming.

Source

Source: https://g3newswire.com/ballys-growth-driven-by-new-regional-casinos-bought-from-the-queen/