Bally’s Q1 2025 earnings are in, and the numbers reflect some important changes. Total revenue for the quarter dropped 4.7% year over year, landing at $589.2 million. The decrease is linked to a major business move: Bally’s sold its Asia interactive business in 2024, which impacted the latest results.

  • Total revenue dropped from $618.5 million to $589.2 million year over year, mainly due to the divestiture of the Asia interactive unit. Without that divestiture, international interactive revenue would have shown a 7.7% increase. Casinos & Resorts revenue rose 2.6% to $351.2 million.

  • North America Interactive grew 12.5% year over year to $44.5 million. This came from the addition of Queen’s interactive business and a stronger Rhode Island digital offering. Bally’s digital presence now spans New Jersey, Pennsylvania, Rhode Island, Ontario, and 11 states for sports betting.

  • International Interactive revenue fell 18.3% to $191.7 million. But U.K. operations saw a 4.9% increase due to better player retention. Spain also showed growth as advertising restrictions eased.

  • The Casinos & Resorts segment’s Adjusted EBITDAR rose 6.3% to $95.1 million, driven by Queen asset contributions. CEO Robeson Reeves noted that legacy properties outperformed market growth in seven out of twelve jurisdictions. Weather and new competition affected some regions, but improvements are expected in Atlantic City.

  • Bally’s announced a strategic AUD $300 million investment in Star Entertainment Group in April. The actual commitment was later reduced to AUD $200 million after Star’s main shareholder joined the round. Bally’s could end up owning 38% of Star through convertible notes and subordinated debt.

  • Bally’s recast its segments to reflect a shift in strategic focus. A part of North America Interactive is now reported under Corporate & Other. This helps align resource allocation and management oversight more closely with growth goals.

  • Adjusted EBITDAR for International Interactive fell 7.7% year over year to $77.1 million. Excluding divested markets and licensing revenues, the segment posted solid growth. Bally’s now concentrates its international operations on regulated European markets.

  • Bally’s had $209.7 million in cash at quarter-end, up from $171.2 million at the end of 2024. Long-term debt climbed to $3.43 billion, reflecting the issuance of new secured notes and changes in deferred financing costs. Capital expenditures for the quarter totaled $46.9 million.

Read more news here.