Mon, Mar 17, 8:52 PM (41 days ago)
### Summary of Bally’s Corporation (BALY) 2024 Annual Report **Financial Performance:** - **Revenue:** $2,450.5 million (2023: $2,449.1 million, 2022: $2,255.7 million) - **Net Income:** $(567.8) million (2023: $(187.5) million, 2022: $(425.5) million) - **Operating Expenses:** $2,708.8 million (2023: $2,345.1 million, 2022: $2,548.7 million) - **Earnings per Share:** $(11.71) (2023: $(3.51), 2022: $(7.32)) **Strategic Overview:** - **Growth Initiatives:** Expansion of Bally’s Chicago, integration of Queen Casino & Entertainment Inc., and strategic partnerships. - **Market Position:** Bally’s aims to be a premier, integrated, omni-channel gaming company. **Future Outlook:** - **Growth Strategy:** Focus on expanding gaming opportunities, reinvesting in existing operations, and leveraging technology. - **Risk Factors:** Economic challenges, regulatory pressures, and competitive landscape. **Financial Condition:** - **Liquidity:** Adequate cash balances and operating cash flows to meet funding needs. - **Debt:** $3.37 billion of total indebtedness, with $608.4 million available under the Revolving Credit Facility. **Market Position Changes:** - **Acquisitions:** Integration of Queen Casino & Entertainment Inc. and strategic partnerships. - **Expansion:** Continued development of Bally’s Chicago and other growth initiatives. **Risk Factors:** - **Economic:** Sensitivity to reductions in discretionary consumer spending. - **Regulatory:** Extensive laws, regulation, and licensing requirements. - **Operational:** Dependence on effective payment processing and technology infrastructure. **Notable Financial Metrics:** - **Adjusted EBITDA:** $495.6 million (2023: $527.3 million) - **Adjusted EBITDAR:** $370.5 million for Casinos & Resorts (2023: $429.0 million) - **Capital Expenditures:** $199.8 million (2023: $311.5 million)