Fri, Aug 2, 1:33 PM (88 days ago)
Bally’s Corporation reported a net loss of $60.2 million for Q2 2024, compared to a net loss of $25.7 million in Q2 2023. Total revenue for Q2 2024 was $621.7 million, up 2.5% from $606.2 million in Q2 2023, driven by increased gaming revenue, particularly from the new Bally’s Chicago property. However, this was offset by a decline in non-gaming revenue due to the closure of Tropicana Las Vegas. Operating expenses rose slightly to $616.1 million from $600.2 million. The company’s effective tax rate for Q2 2024 was 2.4%, down from 52.8% in Q2 2023. Bally’s also announced a strategic construction and financing arrangement with GLP to fund the Bally’s Chicago project. Adjusted EBITDA remained flat at $130.1 million. The company continues to focus on strategic growth and integration of recent acquisitions.