Traffic Jams Are Denting Bally's Profits -- Market Talk

Dow Jones05-02

1839 ET - A partial bridge closure in Providence, R.I., is spelling trouble for Bally's. CEO Robeson Reeves says with 1Q results that construction on the Washington Bridge in Providence has hampered access to its Twin River casino, a major driver of profit in the company's casinos and resorts segment. Half of the Washington Bridge has been closed since December due to worries about structural issues, leading to extensive traffic delays in the area. Officials have since said the bridge, one of the major access points to Providence from east of the city, will need to be demolished and replaced. Bally's swings to a loss in 1Q. Shares fall 2.7% after-hours. (ben.glickman@wsj.com; @benglickman)

(END) Dow Jones Newswires

May 01, 2024 18:39 ET (22:39 GMT)

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