Novice operaterja

ZDA – V rekordnem četrtletju je družba Bally zvišala napoved EBITDAR

Bally’s has overcome severe weather conditions to raise its EBITDAR guidance for the full year, having generated revenue of $598.7m, an increase of 9.2 per cent year-over-year, in its first quarter.

Robeson Reeves, Bally’s Chief Executive Officer said: “We are pleased to have achieved strong results across all three of our segments, Casinos & Resorts, International Interactive and North America Interactive. Notably, our Casinos & Resorts segment saw continued momentum across the portfolio, generating record first quarter revenues of $328.8m and Adjusted EBITDAR of $105.1 million, despite the impact of severe weather conditions that occurred in Lake Tahoe throughout the quarter and in Evansville in late March. International Interactive revenue also remained strong, increasing 7.2 per cent overall, primarily driven by increased revenue activity in the UK totaling 9.6 per cent on a constant currency basis. We are also pleased that, on April 27, the UK Government released its White Paper review of the 2005 Gambling Act. After four years of ongoing consultation, we are hopeful this will now bring some clarity for UK gambling operators. 

“In addition, North America Interactive significantly outperformed as cost-savings initiatives took hold faster than anticipated. We continue to be iGaming first and are executing extremely well in New Jersey where our market share surpassed four per cent, well on our way to achieving our 6-8% longer term goal. As Ontario continues to progress, we look forward to our Pennsylvania launch in May as well. We are also closely monitoring the iGaming bill that was recently introduced into the Rhode Island legislature. Overall, our iGaming business is generating positive returns and we are very optimistic about the future of this business.

“We are also excited about our recently announced partnerships with Kambi and White Hat Gaming to support our relaunch of Bally Bet, our online sports betting platform, fulfilling our promise to partner with best-in-class technology providers to get this business back up and running in an effective and efficient manner.” 

George Papanier, Bally’s President, added: “Importantly, our portfolio’s near-term capex cycle has peaked for our Casinos & Resorts segment as several of our growth projects have come to or are nearing completion. This includes an upgrade of our flagship Bally’s Twin River in Rhode Island, which was completed in April, and our Kansas City expansion that will conclude in July. We look forward to the opening of the Chicago temporary casino in late summer 2023, which is on track and on budget. We are also advancing the full build of our Bally’s Chicago permanent facility, which is slightly ahead of schedule and on budget for opening in the summer of 2026. There is significant consumer demand for this project, and we couldn’t be more excited to begin producing results.”

Bally’s is raising the low end of its Adjusted EBITDAR guidance range it provided on February 13, 2023, for the year ending December 31, 2023, to a new range of $665m to $700m, including a range of $40m to $50m of Adjusted EBITDA losses in North America Interactive and before approximately $124m of rent expense (cash rent of $119 million). Revenue estimates remain in the range of $2.5bn to $2.6bn. We are also reducing our 2023 capital expenditure guidance from $170m to $160m, with maintenance capital expenditures at the casinos of $50m, growth capital expenditures at casinos of $70m and lowering software development costs (SDC) to $40m.