Bally's Swings to 1Q Loss Despite Online Gambling Strength

Dow Jones05-02

By Ben Glickman

Bally's swung to a sharp loss in the first quarter despite surging revenue in its relatively small online-gambling business.

The Providence, R.I.-based casino operator and online-gambling company reported a loss of $173.9 million, or $3.61 a share, in the quarter ended March 31, compared with a profit of $178.3 million, or $3.24 a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 97 cents.

Revenue rose 3.3%, to $618.5 million, falling short of the $625.9 million expected by analysts polled by FactSet.

Casinos and resorts revenue was up 4.1% in the quarter, while international interactive revenue was down 4.4%. The company's North American interactive business, which includes online gaming, had a 70% increase in revenue.

Bally's said revenue in its casino and resorts segment were negatively affected by January weather and the pending shut down of its Tropicana Las Vegas site.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

May 01, 2024 16:43 ET (20:43 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2432665813?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-05-02 04:43","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2432665813","market":"other","top_or_hot":-1,"title":"Bally's Swings to 1Q Loss Despite Online Gambling Strength","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<pre>\n \n</pre>\n<p>\n  By Ben Glickman \n</p>\n<pre>\n \n</pre>\n<p>\n  Bally's swung to a sharp loss in the first quarter despite surging revenue in its relatively small online-gambling business. \n</p>\n<p>\n  The Providence, R.I.-based casino operator and online-gambling company reported a loss of $173.9 million, or $3.61 a share, in the quarter ended March 31, compared with a profit of $178.3 million, or $3.24 a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 97 cents. \n</p>\n<p>\n  Revenue rose 3.3%, to $618.5 million, falling short of the $625.9 million expected by analysts polled by FactSet. \n</p>\n<p>\n  Casinos and resorts revenue was up 4.1% in the quarter, while international interactive revenue was down 4.4%. The company's North American interactive business, which includes online gaming, had a 70% increase in revenue. \n</p>\n<p>\n  Bally's said revenue in its casino and resorts segment were negatively affected by January weather and the pending shut down of its Tropicana Las Vegas site. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Ben Glickman at ben.glickman@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  May 01, 2024 16:43 ET (20:43 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Bally's Swings to 1Q Loss Despite Online Gambling Strength</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBally's Swings to 1Q Loss Despite Online Gambling Strength\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-05-02 04:43 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>By Ben Glickman \n\n\n \n\n\n  Bally's swung to a sharp loss in the first quarter despite surging revenue in its relatively small online-gambling business. \n\n\n  The Providence, R.I.-based casino operator ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4150","symbol_name":"赌场与赌博","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2432665813","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2432665813","pubTimestamp":1714596180,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Bally's swung to a sharp loss in the first quarter despite surging revenue in its relatively small online-gambling business.The Providence, R.I.-based casino operator and online-gambling company reported a loss of $173.9 million, or $3.61 a share, in the quarter ended March 31, compared with a profit of $178.3 million, or $3.24 a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 97 cents.Revenue rose 3.3%, to $618.5 million, falling short of the $625.9 million expected by analysts polled by FactSet.Casinos and resorts revenue was up 4.1% in the quarter, while international interactive revenue was down 4.4%. The company's North American interactive business, which includes online gaming, had a 70% increase in revenue.Bally's said revenue in its casino and resorts segment were negatively affected by January weather and the pending shut down of its Tropicana Las Vegas site.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4150":"赌场与赌博","BALY":"Bally Corp"},"translate_title":"尽管在线赌博实力强劲，Bally仍跌至1Q亏损","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BALY":0.9},"content_text":"By Ben Glickman \n\n\n \n\n\n  Bally's swung to a sharp loss in the first quarter despite surging revenue in its relatively small online-gambling business. \n\n\n  The Providence, R.I.-based casino operator and online-gambling company reported a loss of $173.9 million, or $3.61 a share, in the quarter ended March 31, compared with a profit of $178.3 million, or $3.24 a share, a year earlier. Analysts polled by FactSet expected a per-share loss of 97 cents. \n\n\n  Revenue rose 3.3%, to $618.5 million, falling short of the $625.9 million expected by analysts polled by FactSet. \n\n\n  Casinos and resorts revenue was up 4.1% in the quarter, while international interactive revenue was down 4.4%. The company's North American interactive business, which includes online gaming, had a 70% increase in revenue. \n\n\n  Bally's said revenue in its casino and resorts segment were negatively affected by January weather and the pending shut down of its Tropicana Las Vegas site. \n\n\n \n\n\n  Write to Ben Glickman at ben.glickman@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  May 01, 2024 16:43 ET (20:43 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.22.4","shortVersion":"4.22.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2432665813"}